What To Do With Christmas Bonuses? Yes, Plural With The -es

In some industry, employees are fortunate enough to receive bonuses this Holiday Season. People have been saving more because of the recession which started in 2007. But despite the unfavorable economic landscape, one can't help but celebrate and that includes spending money on gifts.

I love giving gifts and I love receiving gifts more! The part I dislike most is choosing the gift. Shopping eats up a lot of my time so instead of tiring myself in search for the perfect gift, I just give them cash or gift certificates. This, in my opinion, is the practical way of gifting.

Now, going back to gifts, the bonus kind you receive from a year of hard work. What do you do with the excess money? Two things: save and pay off debts.

I save a big chunk of the money I receive and pay down my credit card debts. While it's tempting to splurge more during the holidays, I have learned that the urge shall pass. There will be other sales in the future and since retail hasn't been doing well in the recession, the promos will be all year round. There's no need to rush in buying stuff. And as for paying off loans and debts, if I have more than enough money saved, I pay a hefty amount on my credit card.

I'd rather enjoy life's simple pleasures than be cash-starved after the holidays. This has been a common trend among my peers. I'd love the idea of wealth but not the one-day rich kind. I've been there and I know how it's like. Well, enough said. I hope you enjoy the Holidays and your bonus or bonuses!