Does this sound familiar... You get your 13th-month pay or end-of-the-year bonus after all your hard work, and then poof! In the blink of an eye, it’s gone!
You might be tempted to take a well-deserved vacation or just have some fun, but those bonuses can disappear quickly without proper planning! How about using that extra cash for something that will benefit you wholly in the long run?
Not sure where to start? Don’t worry; we have got you covered with the best 3 ways to spend your bonus wisely!
Let’s get started!
1. Learn New Skills
As a freelancer, you must stay in the know with all things digital and remote work oriented. If you are looking for work with new clients, they will want to know that you are up to date with your field’s latest tools and skills.
Some areas to improve or educate yourself in include:
Workplace Platforms: Slack, Trello, Hubspot, Zendesk, Etc.
You might consider websites like BenchPrep that help remote workers learn everything from excel to improved grammar skills. Other sites such as LinkedIn Learning have thousands of courses that can improve your freelancing skills.
Becoming an expert by improving your skills and using new tools can sometimes have upfront costs. Whether it be time away from booking clients to teach yourself or yearly program costs, using your bonus for this purpose is a wise investment!
2. Invest Your Bonus
Employers will often set up investment options for their employees in traditional workplace settings. As freelancers, investing is largely in our hands, but where to begin? Whether you are located in Los Angeles or Manila, there are options for investing in your area.
You can choose to invest in retirement, your career, education, emergency funds, etc., as long as you do it wisely and understand how to handle your taxes as a freelancer. A big mistake many freelancers make is forgetting to set aside their money for things like taxes and retirement, so when the bonuses come around, plan to use them effectively!
3. Curate Your (Home) Office
Finally, a fun way to spend your bonus that also helps your work! A study by Princeton University found that highly cluttered areas made it nearly impossible for subjects to focus on work tasks.
As remote workers, your house isn’t just your home; it’s your office as well! Spending a little extra cash making it the office of your dreams isn’t just about the room’s aesthetics, though.
Make your workspace conducive to productivity and focus by eliminating distractions, stocking supplies, and finally, adding a little luxury like a new work desk or chair!
Thinking of Your Future
These tips are just the jumping-off point. Your bonus... Your future! As a freelancer, your future is dependent on the choices you make now, so make the choices that feel right for you.
Are you a freelancer and a client on the platform? Then, check this article out to learn why you should consider not only getting but giving bonuses as well!