Don't make these 3 mistakes with your end-of-year bonus

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Don't make these 3 mistakes with your end-of-year bonus
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Don't make these 3 mistakes with your end-of-year bonus (via CNBCMakeIt)

this year, it's OK to treat yourself and spend some of it on something you want. But before you go blow the whole thing, take a few minutes to consider the smartest way to spend the extra cash.Trying to show up your friends

Living up to your friends' or coworkers' standards is tempting, especially when you're feeling flush. But if you make a habit out of choosing where to eat, what to wear, and what gadgets to buy based on what your friends do, you can end up wrecking your budget and blowing through your bonus.when dealing with any windfall: Put 50% of the money straight to savings, perhaps in an emergency fund or a long-term savings or investment account.

If you're paying off debt, another option is to use 80% of the bonus to make an extra payment on your student loans or outstanding credit card balance and the remaining 20% on something for yourself, like a nice dinner out or a new pair of shoes. With this method, you get both immediate gratification of spending some on yourself and the long-term benefits of paying off more of your debt.— it can even be more important than how much you spend in total.

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