3 Smart Ways to Use Your Holiday Bonus

Holiday BonusMore than half of employers (54%) said they planned to give holiday bonuses in 2015, up from 47% in 2014, according to a new survey from CareerBuilder. (Sadly, only 14% plan to give more than last year.) If you happen to be one of their lucky employees, perhaps you’re wondering how to put that cash to use. Fortunately, we have some ideas.

1. Sock It Away

Study after study highlights Americans’ poor saving habits.  Read More…

This article has 13 Comments

  1. Umberto Muhn

    Depending ont he amount we are talking about i'd recommend parking it in the TFSA. Recall in 2015 it was $10K limit. Although Trudeau's Liberals dropped it back to $5500 for 2016 and the forseeable future you can still use that $10k, if you hadn't done so in 2015.

    At least that is where i'd park it.

  2. Jesus Kirkendall

    We just treat ourselves with traveling. Without it we'd burn out with the routine grind of work life.

  3. Harris T

    I might be the minority here but we get our bonus in spring not christmas. I think it depends on the field of work.

  4. Ricardo T

    The one thing we as Canadians have a habit of not doing is paying down our credit card debts. The most common thing we do is spend. I do wonder if every business is in kahoots to only give bonuses around this time so that it ensures the economy gets boosted — people always spend it.

  5. Griffin L.

    Wait! So jobs give holiday bonuses? I'm working at the wrong jobs. 🙁

  6. Corbin C.

    Adam you have a poor understanding of economics. Trickle Down economics, popularized by America's 80's president distroyed the US middle-class and put most of their wealth in the hands of the 1%.

  7. Stewart B

    Oh how the companies are so merciful that they have boosted bonus from 47 to 54.

  8. Adam

    I am still not a fan of mid-size to big corporations giving out bonus. The money should remain in the company or just be distributed among the upper echelon of executives.

    From my opinion the lower workers tend to get a bit lazy and not work as hard when they are given more than they deserve (their take home pay). Trickle-down has worked better historically.

  9. Leonard Felton

    It talks about stocking it in a high-yeild savings account. The problem is what is there?

  10. Nicklaus Gillham

    My job gives out bonus by way of stock options. We get distributions of 0.4 shares per 1 point in performance. It's a bit complicated to explain the point system. So sad day for us we can't convert this into actual take home pay for the holidays. But i guess in the long term its a good thing.

  11. Vinnie Schiffmacher

    Well for many people bonuses aren't all that much. Better to spend it then being miserly about it.

  12. Eli

    Wait we are entitled to free money? how do i get in on this? 🙂

  13. David

    Start a small business with it! I knew a friend that did just that on a dare. It turned out well and he is quite successful. All from a dare.

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