I've been fortunate to have a job that allows me to continue working from home during the pandemic. I've been doubly fortunate that said job pays a bonus during this time of the year. In this post, I discuss how that check is going to use, without going into specific numbers.
First off, I'm using a fifth of my check for fun money. I plan on taking a fifth of the fifth for playing the lottery. After that, I'm planning on taking my family out for dinner. I'll keep some cash on me should I think of something else to do/get.
Next, I should have plenty to pay off both credit cards. The payments I already had set aside for them will instead go to my emergency fund.
From there, the remainder will be split into three categories: my emergency fund, my student loans, and my moving fund. The emergency fund will see a good boost from this bonus, in addition to the money previously marked for my credit cards. Paying extra on my student loans will help me push down the monthly payment needed to pay them off in the original ten years. And of course, I'm continuing to push toward my down payment goal.
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