Sometime, you may have an extra income or extra bonus beside your monthly income. In addition, this may due to the winning of the lotto or some cash prize from the competition. How could we handle this extra money?
They are several way to manage this money:
a. If you don't have any goal to use this money, it is better to save it in the bank or deposit in the fix deposit before the subsequent investment or debt payment. We tend to have a habit that if we have many cash inside our wallet, we may spend it without any proper planning.
b. You can use the money to buy the necessary items in your life.
c. Treat it as a special purpose spending, such as buying magazine, or books for mental invest ment. Besides than that, you can buy some gift as to strengthen your relationship with your relatives.
d. Use it to pay back the debt, especially the credit card debt.
e. Use it to do investment in mutual fund or investment in stock market if the extra money is enough to do so.
They are several way to manage this money:
a. If you don't have any goal to use this money, it is better to save it in the bank or deposit in the fix deposit before the subsequent investment or debt payment. We tend to have a habit that if we have many cash inside our wallet, we may spend it without any proper planning.
b. You can use the money to buy the necessary items in your life.
c. Treat it as a special purpose spending, such as buying magazine, or books for mental invest ment. Besides than that, you can buy some gift as to strengthen your relationship with your relatives.
d. Use it to pay back the debt, especially the credit card debt.
e. Use it to do investment in mutual fund or investment in stock market if the extra money is enough to do so.
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