Your annual bonus can give you a breather in January

Getting your annual bonus or 13th check is a highlight and should definitely go with some spoiling yourself. Taking a portion of the money and using it for some education expenses that you know will be coming up, can give you a breather in the long month of January.

Some ideas on how to let your bonus work for you in January:

  1. Buy back-to-school stationery now. The list can be quite long and even if you just buy some of the basics now, this will still free up money for other expenses in January. 
  2. Pay your school fees one month in advance. This way you don’t have to pay in January. Some schools give a big discount if you pay the school fees for the entire year by January. If it’s at all possible, it’s a great opportunity to save. 
  3. Put away some money for school uniforms or buy some of the things you know that your child won’t outgrow in the next 2 months, like socks, ties, caps etc.
  4. Most extra-mural activities are payable at the beginning of a term. Pay one or two of them in advance. 

If you have an education savings policy put something extra in from your bonus. This will give your savings a boost and help you stay ahead of inflation.  
You might also want to read about why you shouldn’t try to keep up with the Joneses.