How Do I Stop My Bonus From Disappearing Into Small Expenses?

Speaker A00:00:37

Have you ever received extra money and instead of excitement, you just felt anxiety because deep down you're thinking, watch this disappear. Bonus refund, even a commission. And somehow two months later, you can't even point to what changed. Friend, extra money doesn't create progress.Intentional direction does. And today on the show, I want to make sure that when you get that bonus money, it doesn't vanish, but actually moves your life forward.I got some great ideas for you on today's show. Hey, friend. Ralph Estep Jr. Here.Welcome to financially Confident Christian, where every day my goal is to help you break that cycle of financial shame and live in confidence. And today we're going to talk about how to keep your bonus from disappearing into small expenses about you.But if you've ever been there, you know exactly what I'm talking about. Today's listener question just nails it. They wrote this, Ralph. I received a bonus. Instead of feeling grateful, I actually feel afraid.I've watched money slip through my hands before, leaving no real change behind. I don't want this to disappear into small expenses and end up right back where I started.I want this to actually move my life forward, to mean something. What's the wisest first step I can take so this money truly counts? And I appreciate that question. And I like what they ended that with.First step, because I could give you a book about what you could do, but I don't want to overwhelm you. But I want you to think about this. Windfalls need a plan before they need permission. So let's talk about that right now.So when you find one of these windfalls, commission, bonus, magic money, whatever you call it, pause before you even touch it. Don't immediately spend it. I'll give you a great example of this. I've been in tax work for a long time. Every tax season, guess what?My income goes up. Got a lot of people coming in every day today. As I record this afternoon, I got eight clients back to back.So it's real easy for me to bring some cash in right now. And for so many times I've looked at that as, hey, that's my bonus. It's easy to spend, isn't it? You might have felt the same way.You got this windfall of money. Oh, this is great. We can go do this and go do that. So first thing I'm going to encourage you to do is create a 72 hour buffer.Let the emotions settle. Because what I have found in my own life is that excitement leads to impulse, impulse leads to leakage. But wisdom Starts when you pause.So start by pausing. Second thing, protect a portion of that immediately before anything else. Decide this. What percentage moves in your life forward?Simple framework I'm going to give you right now. Here's a great idea. When you get those windfalls, tax refund, commission bonus, put 50% of it towards stability.That could either be paying down debt or building up your savings. Put 30% towards a strategic goal. Maybe you want to buy a home, maybe you're going to replace a car, whatever that looks like for you.And yes, put 20% towards enjoyment. It's okay to enjoy what you've had. You probably worked hard for that bonus. You can always adjust the percentages to meet your life.But the key is this. Assign the money before it assigns itself. Because if you don't assign it, guess what? It'll find a place to go. Amazon's gonna love you.The clothes store.Oh, they're gonna love you because you're gonna spend it little nickels and dimes here everywhere and then you're gonna look at a little bit later and you know where the money goes. So here's another encouragement I have for you. Use it for impact, not lifestyle creep. I get it. Small upgrades are tempting. New subscriptions.Oh, I can do this. Now it doesn't feel so tight. I got a little margin here. Hey, we can go eat out twice a week. This week I can. I don't have to do this pack of my lunch.I can do doober or doordash or Uber eats that convenience spending. And yes, they're temporary lifts to make you feel good. But instead of doing that, ask yourself this. What will reduce stress six months from now?Because it's easy to live in that moment right now. But think about where you're going to be six months around. Like the listener said today, Ralph, I don't want to be in this cycle forever.Maybe this is a great opportunity to pay down a high interest credit card. Maybe fully fund that emergency buffer, prepay that insurance bill. Maybe do some investment in a skill.See, in the end, it's all about impact over impulse. From a practical perspective, one thing I'm going to encourage you to do is move it out of your checking account quickly.Listen, checking accounts are spending zones. If the bonus sits there, it's going to dissolve. So instantly transfer it to savings or to debt payment or even a separate account.I love separate accounts because that distance creates discipline and that's what you really need. But don't forget to celebrate intentionally. You won't hear this on a lot of financial guru shows. You're allowed joy in your life.You're allowed to spend on yourself. I did a show a few weeks ago about go buy something for yourself, but choose it, plan it. Hey, if you think 20% is for enjoyment, enjoy it.Enjoy it fully. Go do all the things that meet that 20%. Because here's the thing, friend, guilt free celebration is healthier than accidental waste.So in the end, I want to leave you with this. Direct it, don't drift it. So here's your win for today. Before today ends, I want you to sign every dollar of that bonus on paper.Maybe you've got a tax refund due. You're like, hey, Ralph, I just went to the tax guy, we're getting a refund. Don't wait. Plan that out right now. Not in your head on paper.Write it down. 50% Goes here, 30% goes there, 20% goes there. That clarity will prevent disappearance, which leads me to today's Bible verse.If you've listened to the show, I've probably used this one a dozen times, but it fits it. It's Proverbs 21:5. Listen, if you want guidance and things from the Bible to how to do things right, read the book of Proverbs.But this is Proverbs 21:5. The plans of the diligent lead to profit as surely as haste leads to poverty. What is it telling us? Diligence, not speed, not emotion.Diligence turns extra money into lasting progress. Well, let's pray right now. Lord, we just want to thank you right now for your provision.And I want you to right now to help my friend steward this bonus wisely. Protect them and all of us from that impulse spending and from that feeling of guilt.And God, guide us towards decisions that create lasting stability. Give us discipline to pause and clarity, to plan and enjoy.Lord, in using what you've given us, well, let this be a turning point in all of our lives. Not another cycle. And we ask this in the precious name of Jesus. Amen, friend. I just want to encourage you.Extra money becomes progress when you give it purpose. And you can do that. You can make your money have a purpose. And if you've got questions about your finances, I would love to answer them this.My heart is for answering questions. You can send us a question by going to financiallyconfidentchristian.com/questionWe'll put a link in the show notes, but again, that's financiallyconfidentchristian.com/question. I just want to thank you for joining me today. I want to encourage you. I want to build you up to stay financially savvy. May God bless you.Don't ever forget the provision he's given you in your life. And you have a great day today.