Skip to content

InvestEd Philippines is a duly registered Lending Company with SEC registration No. CS201629776 and Certificate of Authority No. 2714.
Please remember to study the Terms and Conditions before proceeding with the loan transaction.

Six Tips on How You Can Spend Your 13th Month Pay Wisely!

In the Philippines, 13th-month pay was started traditionally to support families at the time of holiday seasons. Later, a similar tradition is also followed as a 13th-month salary in other countries such as America, Germany, Brazil, Austria, Singapore, Italy, Costa Rica, Guatemala, and Nepal. There is a great importance of 13th-month pay to young employees or working students. They eagerly wait for this bonus and make several plans to use their 13th-month pay. It inspires them to think about different saving or investment themes. Here is a list of some ideas which will help young employees or working students to spend their 13th-month pay wisely.

Make an Urgent Fund

You can open a separate account to save money for and emergency case or any kind of urgent needs. You can deposit the money of 13th-month pay in your emergency fund. It will support you for unexpected or unforeseen events such as repairing electrical gadgets, sudden illness, gifting for an invitation, or even jobless condition. Budgeting is an effective way to save money by controlling your monthly expenses. Your saving money will help you to include money within your emergency account. You should make a target to save money.

There is no need to keep the full amount of your 13th-month pay in an emergency account. You can start the emergency account by investing a certain amount of this bonus. It will help you to make a habit of savings.

Invest for Your Personal Growth

You may be you’re the most important investment. Sometimes, you want to join the career-building courses. But, you haven’t fulfilled your desire due to the unavailability of sufficient money to make the courses. Then, you can spend your 13th-month pay to join in a specific course to develop your personal growth. By using a part of your bonus, you can purchase some books to enrich your knowledge. You can join a workshop, certificate course or a seminar to enhance your skill in a significant working area or education. It will help you to upgrade your resume by including your new skill or education. It will also expand your horizon and you will get more opportunities to increase your income.

Mold Your Hobby to Increase Income

Freelancing is a great strategy to increase your income. If your hobby is photography or if you have a talent for being a photographer, you can purchase a camera and accessories for photography. You can work as a freelancer of photography services on different occasions or events. If you are working as a graphic artist, content writer, software developer, or website designer, you can invest your 13th-month pay for buying a new laptop. It will allow you to work from anywhere to increase your income. It will be one of the most advantageous themes to increase your income by investing 13th-month pay.

Invest in a Profitable Mutual Fund

Most working students dream to earn passive income. You can invest your 13th-month pay in a profitable mutual fund. It will be one of the easiest investment themes by using your 13th-month pay. You will get a wide range of fund structures to choose by considering the risk factors of the investment and your personal goal. There are lots of finance companies and they have their fund managers who will help you to select the right or profitable mutual fund to invest your 13th-month pay wisely.

Think about Your Future Regarding Finance

If you invest your 13th-month pay to get involved within a life insurance scheme, it will be one of the wisest themes for future financial benefits. It is a great opportunity to build protection for you or your family. You can pay the first premium of the life insurance scheme by using your 13th-month pay. You should choose one of the best plans for the life insurance scheme according to your needs.

Make Payment for Debts

It will be an ideal decision if you make payment for debts by using your 13th-month pay. It will help you to save your expenses for interest according to your debts. You will help you to settle the amount of your credit card or personal loan. It will allow you to get relief by reducing your debts.

By following the above-mentioned ideas based on different advantageous themes, working students or young employees can spend their 13th-month pay wisely!

Secure your future with InvestEd! Fund your tuition, allowance, dorm, gadget and project expenses with our Student Loan Programs. Click here to apply!