Diwali is just around the corner, and people are busy preparing for the festival of hope, light, and prosperity. People all around spend a fortune to buy gifts for their loved ones. Several corporates also offer gifts or gift vouchers to their employees. However, the most important one is the Diwali bonus. In this article, we aim to provide one of the most efficient ways to utilise your Diwali Bonus.
Everyone eagerly awaits for their bonus around this time. The whole year we strive to work hard to get some extra appraisals and benefits, but this additional bonus offers us much more than that. So how can one use this to achieve some financial gains? Individuals often treat a bonus as a windfall gain and hence view it differently from savings and regular income. Several plans are made to utilise this yearly benefit.
Utilising money for pleasure is desired by everyone. This is indeed one of the reasons why we earn in the first place. However, one must not forget that this festival is also accompanied with spendings of no use. One must try to not splurge our hard-earned money on unwanted possessions, rather efficiently use the same. They must remember that they have several goals in life for which they are working. Now that you are almost done with all your shopping and other expenditures, you have the opportunity to make the most optimum use of your Diwali Bonus.
You should consider investing your bonus in an ‘Additional SIP’ to earn better returns and accumulate wealth in the future. This is the one of the best opportunities to give a push to your future earnings.
Systematic Investment Plan, commonly known as SIP aims to provide considerable returns over time. SIP is a way to invest in mutual funds. Under SIP investment, an individual invests a particular amount at regular intervals in their desired mutual funds for a defined period of time. The specified amount gets debited from the investor’s bank account and is credited into the mutual fund scheme. The investment amount can be as low as Rs 100 each month. The periodicity of the SIP intervals can be daily, monthly, weekly, quarterly, annually, etc. SIPs also provide users with an additional SIP option, wherein one can invest some extra amount in the ongoing SIP investment giving it additional units to gain some more earnings.
It usually takes time to make an additional purchase of SIP investment due to lack of lump sum money in hand. And now, when you are receiving the big benefit of Diwali Bonus, then why not put it in good use to gain significant earnings. Expenses are never ending, but if you become firm on your decision, then you have the potential to earn much higher returns on mutual fund investments. Happy investing.