Bonuses are often a cause for celebration and recognition of a job well done. In most cases, bonuses are performance-based and are essentially given to encourage employees to work hard. Think of it as a reward for exceptional achievement at the workplace.
Bonuses are often unexpected income that you do not plan for, and they might come in different forms. Whether your company offers it as cash or stock options, it is crucial to create a plan for this new money that you did not anticipate. But it is also nice to treat yourself too.
Here are some smart ways to spend a bonus that are also rewarding.
1. Invest in Comfort
Investing money is always a good idea. Some big purchases can be daunting, especially those that lead to comforts, like a couch or mattress. Use the bonus money to invest in your comfort at home and buy something you know will make your life easier and more enjoyable. Depending on how much money you have to spend, you can explore a range of comfort items.
For instance, you can choose to invest part of your bonus in a high-quality, comfortable mattress. Explore the advantages of a latex mattress or look into luxury bedding to upgrade your sleep experience. This is the perfect time to treat yourself while investing in your home.
2. Go on Vacation
While there are numerous ways to spend a bonus, you can use yours to take that trip you have wanted to take for a while now. This can be a luxury vacay on a beach, an adventure to a foreign country, or simply a weekend stay at a B&B.
There are many ways to get away for a bit that can fit a range of budgets. Taking a vacation away from work often comes with many health benefits and can also help improve your work-life balance.
3. Improve Your Finances
It is typical for many to spend their bonus on the fine things in life once they get the check. It is okay to spend the extra money on whatever you want, but remember that saving is always smart. While this may not feel like a “rewarding” option for all, it may be a great reward for some.
Investing in your retirement, placing it in your savings, pay off debt are some of the many ingenious ways to save money or improve your finances. Having healthy finances, like low debt and savings, can help you to make more rewarding purchases in the future. This is more of the long-term goals rather than the short-term gains approach.
4. Shop for Yourself
A bonus is a reward, and you should not be afraid to use part of it on something that makes you happy. So, go on a shopping spree and buy your dream shoes or that watch you have wanted for years.
Pampering oneself helps them stay motivated and able to regain perspective. It usually helps boost confidence, self-command, and overall productivity at the workplace.
You can also make purchases that will motivate or improve your lifestyle, like a fun workout outfit or a meal plan subscription. You can also consider things you want around the house like art are new decor for a particular room.
5. Have a Spa Day
Go the ultimate relaxation route with a spa day. But not that this is not only about getting pretty nails and enjoying other superfluous luxuries, as spa treatment can significantly benefit your work-life balance.
Massages are a great way to relieve stress and get you rejuvenated for the road ahead. Other spa treatments like body scrubs often help to increase circulation and reduce blood pressure. Get multiple services while at the spa and take a whole day treating yourself. Afterward, you will feel more relaxed and motivated to work even harder.
Spending Your Bonus to Reward Yourself
A bonus is a financial compensation offered to employees to complement their income and reward exceptional achievement. But it is not guaranteed income, as some companies often give bonuses depending on overall business success.
This does not mean that you should exclude it from financial budget plans. Planning for it in advance will give you the best chance to make the most out of all your bonuses. While this unexpected monetary perk can be good for your financial health, it would be best if you remember to use part of it on things that make you happy.