Bonus season is upon us! It really makes this the most wonderful time of the years. But as you know from my golden handcuffs post, you may be feeling some pressure to spend that bonus on something big for yourself or on holiday gifts, because hey, you deserve it! WRONG - Well, half wrong. You DO deserve to be rewarded for you hard work. But why not reward yourself in the form of a big deposit into your own net worth?! Here's a few issues you might have this season and some friendly advice to make the most of your plump holiday paycheck:

1. Gift Giving to Others

It's the of the year to spread some cheer! My guess is that you have one of two concerns when it comes to gift giving.

1. My friends and family know how much I make and I'll look cheap if I don't spend a lot on them, or

2. My friends and family are also high income earners and I'll look cheap if I show up with weak ass gift compared to the ones I receive!

Both of these concerns are ill-informed. First, while I've explained many times on Twitter (@fine_freedom) why I've found value in hiding my FIRE plans at work, those reasons do not apply to my friends and family. Why is this relevant? Because by preaching that I'm on this path to FI, my friends and family all know that I've embraced frugality and anyone that knows me well would know it would be crazy for me to blow huge sums on holiday gifts. By talking about high savings for a sound financial future, the subtle message that I don't spend a ton on these sorts of things also gets relayed. As for you? GET TALKING! Tell your parents, SO, aunts, uncles, cousins, etc. about how excited you are to save as much as possible so you can be there for your family in the future!

If you come from money, well first, kudos, because you're probably debt-free and living that good life. But second, THE SAME ADVICE STILL APPLIES. Both of these concerns center around the fear that your family and friends will be blindsided by your reasonably priced gifts when they expected the high roller you are to drop some high end swag under the tree (or menorah or festivus pole or what have you). To address this, you shouldn't focus on the gift, but on the expectation. Since telling everyone you're not spending a lot this year may come off in a cheap-ish way, I've found preaching your financial goals sends the same message in a much more positive light.

2.  Gift Giving to Yourself

So what's it going to be if you're a mid level associate about to get an extra $40k post tax? A boat, a car, rennovate the house, giant vacation, upgrade the condo situation? All fun options to think about, until you compare them to the best option - stashing it away like the BONUS money it truly is. This is especially true if you're still dealing with student loans. How you could receive this much money and still leave biglaw after five years with debt is nothing short of mind boggling. 

If you've got a big expense you've been planning for - a home down payment, a wedding or engagement ring, care for a new child, etc. - by all means think of your bonus as an extra push to get you there faster. But just because it's labeled "BONUS" doesn't mean you have to think of it as "fun money" and spend it on something you wouldn't otherwise buy because "you weren't expecting it." The fact is most associates think of the bonus as part of their pay, so if you're using it to plan for your financial future, you really shouldn't call it "fun money" when it actually hits your account. 

Moral of the story is, take your SO out to happy hour to celebrate the big chunk of savings that just mushed your goals closer to the near future instead of the far future. You'll be thanking yourself down the line - trust me.

3. But What Will I Tell the Others!?

Uh, tell them to mind their own business? JK, but it would be just great fun to say that to that one partner you can't stand, amirite? The beauty about keeping work life separate from home life is that, frankly, no one will know the difference no matter what you say. Is it right to lie? Should you have to? Of course not. But the goal is to keep you in this high paying job as long as you want to be there, so if your partner asks what you did with your bonus say whatever you think will make them happy. Be vague if possible - bought some gifts, paid some loans, saved some. And hey, maybe I'm being too harsh on unnamed partner, if you're comfortable with them, by all means say you decided to invest as much as you could. It is a bonus after all. 

The main point here is that worrying about what your colleagues will think should be a complete non factor when it comes to spending your hard earned money - and that is equally true for your bonus. And remember, have a happy holiday season (when you're not billing of course!)