ADVERTORIAL Smart ways to spend your annual bonus

2016-12-08 06:01
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DON’T let the year-end festivities swallow your annual bonus. Here are four ways you can spend (read: invest) it wisely this year:

• Put it into your bond

With the rand’s uncertain future and interest rates that are likely to increase, it’s always a good idea to spend your extra cash on your home loan. The sooner you can pay it off, the quicker you’ll be out of debt and the more you will save in interest. In addition, pushing cash into your home loan is a good way to build a financial buffer for the odd-chance of life throwing you a curve ball.

• Boost your home’s value

A home is that one asset that has the potential to grow in value over years. So give it added value by using your annual bonus for those renovations or repairs that you keep putting off or think are too expensive. Try: replacing your kitchen’s worn doors and handles, re-tiling your bathroom or replacing the broken shower door, giving your home a fresh lick of paint or providing your garden with a much-needed facelift. The return on investment will certainly pay off in the long run.

• Save for a deposit on a home

Whether you’re a homeowner or want to enter the market, being able to put down a decent amount of cash as a deposit will certainly make you a favourable candidate when applying for a home loan. More so, because you’ll have a sizeable amount of cash to put in, you’ll be able to take a smaller loan – just imagine the amount of money in interest that you’d save over 20 years. So, invest your annual bonus for the next couple of years into a solid savings account and, eventually, use it as a deposit towards that dream home. Now, that’s a good investment.

• Upgrade your home’s energy efficiency

Over the last year and a half, South Africans have certainly felt the effect of Eskom’s costly electricity increases. So, why not use your bonus to install or improve your home’s energy efficiency? Think about installing solar panels, replacing all your light bulbs with energy saving lights, upgrading that old geyser with a new one that uses less electricity and even insulating your home properly for those cold winter months. Some of these might be costly, but it’ll save you plenty of money in electrical bills and will add to the resale value of your home.

Contact Rawson Properties Hibiscus Coast on 039 315 1198 or 039 312 0267 (Uvongo Office) or

039 311 1206 (Port Edward). Rawson Properties Hibiscus Coast Lot 91, 84 Marine Drive, Uvongo, 4270.

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