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!

Holidays: we have too much of it

In the month of December, almost half of the month is considered a holiday. Name it: official holiday, non-working holiday and special non-working holiday.

Officially, December 24 is the last business day of the month. People queue up at the banks for that last minute transaction and as for the businesses, expedite to close deals with their business partners.

I thought it's back to work on January 2, 2009. But alas, GMA declared it as a special non-working holiday. That's a total of 2 weeks of no work, no business and free vacation!

Employees marvel and celebrate on the extended vacation. Not all are on a holiday spree though. People who work in customer service oriented industries are exempted from the holidays i.e. call centers, department stores, supermarkets and the like. It's business as usual for them. The plus side of it is they get a higher pay rate for the days that are officially declared as holidays.

The long holidays for the business owners, on the one hand, means unnecessary delays and lost time to do what can be done supposedly for the month of December. Come January 5, it's rush, rush, rush. To close the year end books and to make up for the time lost during the holiday period. Having had worked for expats in my previous jobs, my bosses would frown at the thought of these holidays. The Philippines has too much holidays in their calendar, I'd hear them say this year in year out. It's true. No doubt it.

My thoughts on this abundance of holidays: I'm totally indifferent about it. My work doesn't follow the Philippines' calendar. So, all those double, triple pay rates doesn't apply to me.