Have extra money coming in? Here are ways to put your money to work for you now, so you can potentially reap the rewards down the road. Many companies provide some form of incentive compensation as part of their overall compensation package. In fact, 84% of organizations used variable pay based on an employee’s performance in 2019, according to a recent survey by WorldatWork, an association of human resource professionals.1 Many companies also offer spot bonuses and raises during the year to recognize good work and motivate employees to continue to drive results.
If you’re fortunate enough to see a boost in your paycheck—whether it’s through a bonus, raise or promotion—it may be very tempting to spend this extra cash on a new electronic gadget or fun vacation, but using your bonus on long-term, big picture goals may lead to greater happiness in the long-run.
What should you do with your extra compensation? Start with the basics. Focus on two important objectives: catching up and getting ahead. Here are five strategies to put your money to work for you now, so you can potentially reap the rewards down the road.
READ THE FULL ARTICLE BY DAVID CHISHOLM IN THE 2022 SPRING EDITION OF GAMING & LEISURE MAGAZINE.