Editorial

Bonuses for spending WHAT?

Another spending spree this yuletide season or the coming year-end. By tradition, this happens but let us put rationale in spending. Spending for what and then lose the dime.

For government employees, they started to receive their 14th month pay since November 15. The 14th month pay and other benefits are exempted from taxation, provided they do not exceed P90,000. All government employees will also receive P5,000 cash bonus. Those in the private sector usually receive their counterpart sometime the middle of December or before Christmas day.

December is month of merriments, it’s in the family and closest of relatives. There will be gift giving, special celebrations, and special purchases of whatever desire and want that are afforable. It is also moment for class reunions, hence, additional expenses. All these spendings come from the bonuses and when January comes there could be no dime to keep. 

Spendings are associated with celebrations we so cherish out of tradition, some of these have binding on the families. We relate with each other more during this festive occasions, reminding each other of our ties and social attachment. Families and close relatives come together to renew the social bonding. Spending, therefore, is a means of reaching out to each other and reminding each other that “we are still here.” This is worth spending but not really that lavish so we still have tomorrow.

But how much do we have to spend for the yuletide season? For wage earners whose income are fixed rather than progressive, we have to put rationale on expenditures. There are days we need cash for emergencies.

Bonuses are extra sums for the pocket and it is best we take spare for the eventualities… meaning we have to keep an amount as savings. In monthly budgeting, putting a sum as savings is a rationale move. In receiving bonuses, savings are spare when the dry days come.

Yes, we spend for the holidays but we have also to spend for emergencies. Bonuses serve as extras for special spending and consider savings as deposit for future spending… for dire needs. It would be a sigh of relief to know we have a sum for the coming days we need it most. Make savings be your own bonus for certainly the necessity will come.

A friendly reminder --- don’t waste bonuses.