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5 Ways to Spend Your Sign-On Bonus

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Receiving a sign on bonus is a great benefit that many employers are not offering to attract top talent. If you are in this position, it might be difficult to decide what to do with the extra cash. This article will list five great ideas of what you should to do improve your quality of life with your bonus.

Schedule a Weekend Getaway

Starting a new job probably means you wont have any vacation time, but you will likely have two days off, at some point, over the next month or two. Use your bonus to take a trip to Niagara Falls. It is beautiful this time of year.

Photo by <a href="https://unsplash.com/@biancablah?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText">Bianca Ackermann</a> on <a href="https://unsplash.com/s/photos/niagra-falls?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText">Unsplash</a>
Photo by Bianca Ackermann on Unsplash

Pay off Bills

The best idea for your long term quality of life is to pay down your debit with your bonus. It may not seem like a fun idea but when you are debt free you will feel less stress and more happiness so it’s always a good idea to do the responsible thing, even if it’s not as much fun as a weekend getaway.

Invest in Yourself

Education has been getting a bad rap in the media lately. Education costs are rising and students are not getting a return on their investment. This is true that there many scam artists who will try to take your money for some type of “education program”. Do your due diligence and look for educational programs that really interest you. Check out what is being offered at your local community college. Earning a degree will enrich your life in ways that you could have never imagined. It will improve your life to learn something new.

Save for Something Amazing

Do you want the new sports car or to remodel your kitchen? Your bonus could be an opportunity to start saving for something amazing. Go to the bank and open up a savings account and set up to have a certain amount withdrawal from your check each pay period. If you set the process up now, you wont even miss the money from your check.

Open an IRA or Buy Digital Currencies

Everyone hopes to someday have the opportunity to retire. With some of the changes being purposed to social security, if you are far from retirement the chances seem less likely that SS will exist for you. Therefore, using your bonus to secure your future with an IRA or for the risk-taker, buying a little Bitcoin could help to enhance your quality of life in the long run. It is always best to seek the advice of a finical advisor before making any kind of investment.

I hope this helps you put your money to good use as you are on your way to living your dream life.

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Kathleen Houlihan is a leader in workforce innovation and she is the Founder of an agency that reimagines talent acquisition and optimizes the system for candidates and employers. Her company, Dream2Career, provides human-centric ROI solutions that filter-in candidates who exceed expectations in the workplace.

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