It's that time of the year again. You're eagerly awaiting your Christmas bonus, but you're not too sure what to do with it. You might have some ideas, but we've found a great list of things to spend it on that will make your life much more rewarding than if you just spent it on material things
With everything seeming so digital these days, it can be easy to forget about the importance of physical products. We think this list is a good reminder that less money doesn't always mean less happiness!
In today's world where the average person spends over 50 hours each week commuting and raising children, spending time at home with the family has never been more important. Spending time at home with loved ones is only going to become more and more difficult as our population ages. This is why it's important to invest in that condo lifestyle!
Even if you've got a house and a mortgage, there's still no reason not to find ways to make your home more family-friendly. For example, with the rising cost of childcare, it might be a good idea to invest in a second kitchen for your kids! You'll be able to make them breakfast for school in the morning and spend more time with them during the day rather than being stuck at work.
Many families have been forced into building an addition onto their homes simply because they need more space. With condo living, this is easier than ever! You don't have to worry about where in your house you can put an extra room or how much square footage you'll lose by adding on. You can easily turn any walk-out basement or attic into another room that you can use as a home office, playroom, home gym, or whatever else you want to make it useful.
If you're ready to move into a new condo, there are plenty of ways to save money with the purchase. Check out this article for some ideas on how to do it! "How to save money on your next condo purchase"
And now time for our favorite part of the list. The things you should do when you get your Christmas bonus so that it doesn't just go back into your wallet and make another year's vacation payment! That's right, we're talking about investing!
Whether you're young or old, it's never too early to start investing. If you subscribe to a regular savings plan and start early on, it won't be long before your investments really do add up. And for those who are starting out later in life, it's still never too late! You can always open a new retirement account as soon as you get your Christmas bonus. The earlier you start, the better!
One way you can invest right away is by starting a matched retirement plan with your employer. You'll agree to put in a certain amount of money every paycheque, and your employer will either match it or contribute their own money. Never turn down free money!
Buying stocks isn't just for the big boys. In fact, with online trading you can do it from the comfort of your own home! The great thing about this is that it doesn't take any special training to do (assuming you're up on some of the basics). Your biggest decision is which stocks to buy, but that's still a lot easier than running an actual business.
If you don't have a 401k or similar retirement account with your employer, you still have options. There are tons of retirement plans from major companies and other financial institutions such as Vanguard, Schwab, and Charles Schwab. You'll just need to decide which one works best for you. If your work doesn't offer one, then you can always open an individual retirement account at a bank or credit union.
There are many things that could qualify as investments that aren't exactly stocks and bonds. For example, many people consider their home investment as well as their car. If you've got a mortgage or a car loan, it could be a good idea to make this an asset. Maybe you'll even qualify for some home equity loan interest!
If you're thinking about selling your current home, there are lots of ways to do it for more money. The best way is by finding an investor who is willing to make a good deal on your house. By becoming a landlord, you'll be able to make money off of your home rather than paying rent elsewhere. This way, you can have the best of both worlds!
If you're thinking about buying a condo, keep in mind that there are lots of ways to get it for less. Buying in bulk can be so much cheaper than buying one at a time. Whether it's investing with a friend or co-worker or buying online, there are many other options besides the traditional real estate agency.
Many people have heard of investing through rental properties before but were unsure where to start. One of the best ways is to buy a condo unit that can be rented out. There are many advantages to condo living that make this a great idea!
For one thing, you'll have the peace of mind in knowing your property is fully maintained by someone else. If something breaks, it'll get fixed right away and you won't have to worry about it. You also won't have to worry about finding renters and making sure you're being paid on time. Also, if your renter causes any damage, you can use your condo insurance plan to fix it! Alternatively, using a house insurance plan often means that your renter will pay for any damage they cause.
Probably the biggest benefit of condo living is the low maintenance costs. With a house, you need to make a lot more compromises to keep it running smoothly. For example, if you're an avid gardener you'll need to put things away so that it doesn't get out of control. In a condo, you don't have any of these problems! Even if your house has a swimming pool, hot tub and spa, you won't have to worry about any of it! You can happily ignore all the maintenance that comes with those things because there's someone else taking care of them for you.
So in conclusion, there are lots of great things to look forward to at Christmas time. You have to do some work in order to make sure you don't end up with anything. Hopefully, you'll agree that it's definitely worth it!
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