5 Things to Do with your Bonus or Tax Refund Check

It’s tax season and many are looking forward to their refund check, but if you’re like me you’re looking forward to that Bonus check baby. This time of year is great but it may be overwhelming for some receiving a lump sum amount that is much larger than your paycheck, budgeting it correctly and not looking back like where did all my money go! Don’t be overwhelmed boo.. I’m here to help because I’ve been that person to blow a check and not be able to pinpoint exactly where it went! Most recently my tax refund check! I haven’t gotten one in a while but with starting my own business last year a got a little something back… but ask me what I did with it… Go ahead ask me… lol   Chile I have not the clue where that money went, so I made sure that when I got my bonus check I’d have a very well thought out plan for my money. Keep on reading for my 5 tips!

1.      TITHE…period, that’s it!

I make it a point to give God his 10% because without him I know for a fact I wouldn’t have received the blessing of an awesome job with amazing bonus benefits. So, before I do anything else, I give my 10% to the Lord.  If that’s not your thing… do you but remember GIVE and he’ll give it BACK to you! 😊

2.      Savings and Investments

This one is pretty self-explanatory. Come up with an adequate amount according to your goals to put in your savings account. I currently have a goal amount to put into my savings for a down payment on a new home by June and my bonus check will allow me to hit this goal by the first week of March and still have some money to play around with as well… Ain’t God good? So, consider putting some funds into your personal savings and retirement accounts, kids’ college funds, and/or possible a down payment for a house.

3.      Pay Off Debt

I know you have your debt snowball set up right? Go ahead and tackle your smallest debt and get one step closer to financial freedom. Check out this debt snowball article on my site!

4.      Travel

BOOK THE TRIP SWEETIE… That’s it!

5.      Be a Blessing to Someone Else

God has blessed you so consider being a blessing to someone else. Whether it’s supporting a friend’s company, helping a friend or family member that you know is in a tight spot, or giving to your favorite charity decide to help someone whether big or small.

 With Love,

Jasmine Kaye