Each year every employee get a bonus based on last year's profits and personal performance. There is always a buzz around the workplace as people wait for their reviews to see how much they are going to receive and what they will spend it on after the taxman has taken his piece.
In previous years I’ve bought a cheap £700 car, used the money to go on holiday, bought a new PC and lots of other gadgets.
Can you guess what I’m spending the money on this year? That’s correct, weight loss surgery. Ha, no it’s my debt.
While it would be great to spend the bonus on something fun or upgrade my mobile the sensible and wise thing to do is spend it on debt. I’ve developed a good habit to put all spare cash and extra earning into reducing my financial liabilities.
It’s easy to forget that the reward for working and hitting targets is earning your wage and even easier to waste it on buying things that you think you need.
