The thought of appraisal always comes with the fascinating dreams which we live in our fantasy world. An exotic holiday in the Bahamas, that Gucci dress and the Jimmy Choo stilettoes, the clink of the champagne in the weekend parties and the list is endless. But, appraisals are usually a one-time affair.
Most of the corporate houses HR policies motivate their employees with the benefit of appraisals as well as a bonus. This is the usual human instinct to derive pleasure in spending money since it is an immediate up- gradation from the self – esteem to self – actualization phase. And once the money is spent, we are always back to the first square and trapped in that vicious circle within the square.
Hence, what if, you can pursue your dreams and don’t need to wait for appraisals or bonus. All you need to do is use your appraisal money in a smarter way to live your dreams throughout the year.
A little bit of smart planning can actually take you towards your much desired extravagant life. If you’re getting your bonus as well as appraisals, spend 10% of that for that feel – good factor. And invest rest of the money on a smart financial tool. Actually, there is one thing for sure that you don’t need your appraisal money for maintaining or upgrading your lifestyle. Your salary is enough for that, or it would be never enough. So, plan it right so that it actually adds value in your life.
Smarter ways to invest your bonus and appraisal money
SIP
You have the option to start a SIP for INR 500 for flexible tenures. Trust me, if you are stuck by wanderlust and traveling is your dope, SIP is worth giving a shot.
Lump-sum
Usually, your bonus comes as a lump-sum amount. Usually, there are certain financial goals which demand lump – sum amount. For instance, down –payment for your new house or car. If you are in the advanced stage of your life, then may be you have to pay the session fees. Lump-sum sounds perfect to take you closer to your financial goals.
Equity
If you are yet to explore the magic island of equity, then you are actually missing out on the simple tricks of making your money work smarter than ever. Start investing in the Equity market and back it by the free advisory of 5nance.com, and see the potential of your portfolio getting nurtured over the period of time.
Health Insurance
In the midst of everything, don’t forget to take care of your Health. A small investment in health insurance will turn out to be a fried forever in the long run. You will also enjoy the tax benefits on the premium amount.
ELSS
ELSS is the acronym for Equity Linked Saving Schemes. These are the smart tax-saving investment options with better returns to support your long term plans.
Our aspirations and dreams are the driving force, which persuades us towards a financially independent life. With a good corpus, we can easily plan for vacations, pursue new hobbies, opt for wealth creation for better nurturing of kids, arrange the down – payment for that penthouse etc. Different people have different aspirations and pursuing them becomes a bit easier with a proper financial planning.
To enjoy the fruits of appraisal throughout the year, check out the packaged offering from 5nance.com. Do your goal – planning and align your investments to live your much-desired life which you actually deserve.
