Learn how to prioritize what to do when you receive a bonus.
- Once in a while a pile of cash might fall into your lap.…Usually, this comes from a bonus at work…or from a tax refund and at some point in our lives…most people will get this terrific surprise.…In fact, eight out of 10 Americans get a tax refund…so it's not as uncommon as you'd think and with a windfall…there's a huge temptation to spend it all.…We've all seen the ads for those new phones,…TVs, cruisers, cars.…I understand the thrill of that shiny new purchase…but I'd suggest very strongly that you curb that urge.…
So what can you do instead?…Right now, before you get your money,…think about what you should do with the money,…not what you want to do with it.…Take a second to look at where you are financially…and figure out now what your greatest financial needs are…and commit to using the money…where it will have the biggest impact.…Interestingly, in the US, spending on medical care jumps 30%…after a tax refund is received.…So if you're one of those people…who have deferred medical care,…make sure you take care of yourself first.…
Skill Level Intermediate
Financial Wellness for Couples and Familieswith Amanda Clayman1h 7m Intermediate
Personal Finance Tips and Trickswith Jane Barratt2h 58m Intermediate
Your Money Management
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