Optimism for holiday bonuses fairly low

Maybe it’s just pessimism but just 22 percent of people responding to a recent survey expect to receive a holiday bonus this year.

The survey, conducted for Bankrate by Princeton Survey Research Associates International (PSRAI) – certainly showed what workers would like to see in their holiday stockings.

Their No. 1 wish would be for a higher salary in 2016 (39 percent wanted this), followed by better health insurance (18 percent), a better work/life balance (16 percent), a new job (10 percent) and more vacation time (9 percent).

Of those who do expect a holiday bonus or raise, the most popular plan for that extra money is to increase savings (35 percent), followed by paying down debt (22 percent), keeping up with bills (19 percent) and buying holiday gifts (17 percent).

If you are getting a bonus or raise, consider the overall impact on your finances – including taxes – before you spend any of it. Otherwise, feel good that your work is valued enough to warrant this treatment.

Give yourself a bonus – save regularly

If you start a regular savings plan at the beginning of the year and don’t touch that money you’ll have a nice bonus you gave yourself at year’s end. Travis Credit Union has various ways you can save money for both short- and long-term goals. Visit www.traviscu.org to learn more about how we can help you with your personal finances.

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