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Getting a 13th cheque this December? Here are some key tips on how to spend it

17 November 2019 1:11 PM
Tags:
Money
Debt
Paul Roelofse
wealth
financial planner
bonus
13th cheque

Whether you get a 13th cheque or not, financial guru Paul Roelofse advises that people budget wisely as the festive season looms.

As the festive season approaches, many people will be receiving 13th cheques or bonuses from their employers.

Financial planner Paul Roelofse shares his advice on how to best spend your 13th cheque and how to budget wisely over the holiday period.

Put some of it aside

It's important to save a portion of the money first and then decide on what the rest will be spent on, Roelofse explains.

It starts off with an attitude. Wealthy people don't look for ways to spend, they look for ways to make wealth out of money.

Paul Roelofse, Certified financial planner

Save first and then spend the rest.

Paul Roelofse, Certified financial planner

Cut down your debts

Roelofse suggests that reducing debts should be top of the priority list when spending the remainder of the money.

Look at your bond, look at your personal secured loans, and your overdrafts, credits cards. Allocate some of your 13th cheque towards it. It will give you peace of mind.

Paul Roelofse, Certified financial planner

Listen to the expert financial advice on Weekend Breakfast with Refiloe Mpakanyane:


17 November 2019 1:11 PM
Tags:
Money
Debt
Paul Roelofse
wealth
financial planner
bonus
13th cheque

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