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"Until and unless you discover that money is the root of all good, you ask for your own destruction. When money ceases to be the tool by which men deal with one another, then men become the tools of men. Blood, whips and guns – or dollars. Take your choice – there is no other – and your time is running out." — Francisco d'Anconia's speech about money in Atlas Shrugged by Ayn Rand
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Welcome to Money $ Liberty, where personal finance and personal freedom collide. If you haven't visited before, please take a look at what this site is all about. Feel free to look around and make comments. Enjoy!

What to do with a bonus

curtis — 9 February 2008 - 7:35am

I found out last week that I am getting a 10% bonus this year, which is really, really cool. I should see it in my next check, and so over the past week I've been thinking about what to do with it.

It really isn't that hard of a decision for me. I could go get a new LCD TV and a wii, or maybe schedule a vacation (what's that again?). But of course, that wouldn't be the responsible thing to do *sigh*.

I haven't given any debt updates recently, and part of that is because we've got into some trouble over the last couple months. Firstly, back in November and December I had to put new tires on both mine and my wife's cars (~$800 total), and then I had another $700 or so of work that needed to be done to my car to pass inspection. On top of that, I bought new MacBook laptops for my wife and I for Christmas, and put them on my 0% credit card. Admittedly, buying the laptops was partly in anticipation of receiving a bonus.

So, essentially I've done what one should never do and spent my bonus before I had it, or even knew definitively that I was getting one. It worked out for me this time, since my bonus should just about cover the outstanding balance on my card (and just in time, since my 0% rate is about to expire). It would have been a very bad situation, though, had I not received a bonus this year, or had it been less than I was hoping for.

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