If you are like me, you already have a list of the things you intend to do with the 13th month salary.

However, the economic climate this year has affected the certainty of this revenue for many. While some employers have announced their inability to pay at all, some have offered to pay half of what it should have been, while a lucky few might get their full bonus as expected. Whatever category you belong to, it is time to map out a plan that will help you maximise the situation.

If you are getting your full 13th month…

Congratulations, you are one of the lucky few. However, this is not a time to splurge. You might not be able to indulge in the usual buying spree December is known for because the purchasing power of the Naira is almost half what it used to be. Consider the following tips.

• Look out for creative & affordable ways to celebrate the holidays with your family, see our suggestions here.
• Save a substantial amount of that money towards next year. January is often a dry month and no one can tell if the economy will pick up next year or not.
• Maximise your savings by investing in a Money Market Fund which guarantees that you will enjoy competitive returns in the new year.

If your 13th month is slashed…

Congratulations to you too, half a loaf is better than none. Think of the money as a good foundation for next year.

• Plan your year-end activities on your regular income, as if you did not get a bonus at all.
• Look out for creative inexpensive ways to celebrate the holidays with your family. See our suggestions here.
• Save a substantial amount (if you cannot save all) towards next year.
• Maximise your savings by investing in a Money Market Fund that guarantees competitive returns for you.

If you are not getting 13th month at all…

Do not let this weigh you down, choose to look on the brighter side – the fact that you have a job and steady income flow is reason enough for gratitude.

• Creatively draw up a budget for year-end expenses.
• Focus on preparing for the holidays with a percentage of your November salary. Whatever can be bought in advance can be purchased with that percentage.
• Decide on the percentage of your salary (Both November & December) you will save towards next year.
• Maximise your savings by investing in a Money Market Fund that guarantees competitive returns for you in the new year. You could set up a direct debit order for both months to ensure disciplined and consistent saving.