Got Diwali bonus, don’t spend it on unnecessary purchases, use it like this.

Uses of Diwali Bonus: On the occasion of Diwali, crores of employees have received Diwali bonus from the company. But, are you using it correctly? Actually, after getting Diwali bonus, most of the people spend this money on household expenses, but this thinking is not right. Because, you don’t know the proper use of this Diwali bonus. You can earn good amount from this bonus amount. Let us tell you great ways to use Diwali Bonus…

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Prepayment of loan

Diwali bonus can be used for prepayment of any type of loan. The advantage of this will be that it will reduce the principal amount of your bank loan, thereby reducing the EMI amount in future.

Bank FDs in children’s names

A part or whole amount of Diwali bonus can be invested in bank fixed deposit. You will get good annual interest on FD and the amount will increase till next year. Also, in the long run, this increased amount will be useful for children’s education and marriage.

A safe investment in gold

You can also use the Diwali bonus to buy gold. Investing in gold is considered to be the most beneficial and safe investment. The special thing is that this jewelery fulfills the wishes of both hobby and investment. Anyway, buying gold on the occasion of Diwali is considered very auspicious.

Contingency fund

At what point in life do you need money? Having an emergency fund is very important in such a situation, so you can use the bonus money and keep it in your bank account as an emergency fund.

Tags: Diwali Gift, Investments and returns., Investment Tips