A reader sent me an e-mail asking for my advice. After I checked to make sure this person didn’t mean to send it to a real financial blogger, I decided I should give my brand of “Southern Fried Advice”, for what to do with a Bonus .
Here is a list of things you could use your bonus for, read afterwards for my comment competition:
- Get a tattoo
- Get a new car (because you deserve it)
- Go on a fantastic vacation
- Go to the Casino
- Loan it to a relative
- Make a pile of it and set it on fire 🔥
As you can see these will leave you with no money at the end, and various degrees of pain. How (where #1 would be the dumbest) should this list be ordered? (leave a comment or add other lame-brained ideas for this bonus)
OK, enough of me making up stuff that makes me laugh, what should you do with a bonus? It is found money, so you didn’t have any plans for it, so of course you should first, foremost, absolutely, completely, totally and emphatically pay off debt!
If this is “found” money, and you had no plans for it then you will not miss it when you pay down debt with it, won’t you? If you don’t get the bonus right away, that is when it gets hard, because that is when you start the rationalization about how you “deserve” something, trust me, you deserve to be out of debt more than any trinket, or vacation.
I still can’t get over someone asked me for advice, the world is becoming a very peculiar place.
Another tip, big money in 20 years is going to be in tattoo removal, or erasable tattoo technology.