4 Ways to Make a Bigger End-of-Year Bonus
Got a holiday bonus coming? That's fantastic news – but there's no need to settle for however much your boss is giving you. Why not take that bonus and make it grow? If you get a $2,000 bonus and use it for one of the below purposes, you can increase its value by $236.80 to $736.80 within a year – and that's just based on average results.
Credit card debt is incredibly expensive. As of September 2017, the average credit card interest rate has risen to 16.15%, despite low overall interest rates. So if you're stuck with a bunch of credit card debt you can't get rid of, you're paying through the nose for it – which is where your holiday bonus can really help. Use your bonus to pay off $2,000 worth of credit card debt that would have been charged 16.15% interest compounded monthly, and you'll save around $348 in interest over the next 12 months.
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Source: Fool.com
