From investing in UITFs, Axie, and language courses, here are some options on where to spend your 13th month pay

'Tis the season an employee's 13th month pay comes in. With that extra money, you can do a lot of things—buy Christmas presents, pay off debts, invest, or extend help to those in need.

There are many investment options out there where you can get financial returns such as the usual unit trust investment funds (UITFs), mutual funds, equity funds, and insurance. These investment options have varying rates of return depending on how much risk you can stomach, but most, if not all, beats the alternative of stowing your cash under your pillow or in a saving's bank, where inflation will inevitably eat up your money's purchasing power. Just be sure to gauge the vehicle that will suit your risk profile.

Be sure also to ask about the lock-up period as most of these products have a corresponding window where investors may be allowed to pull out their investment, outside of which a penalty may be imposed. If you already have an existing relationship with a bank through your savings account, it may be good to leverage on that goodwill to inquire about their investment products.

Then, there are more trendy and contemporary options like cryptocurrencies, Axie Infinity, and NFTs, but since they are relatively new, they tend to be volatile. Though there have been a number of anecdotal testimonials of people who have made reasonable returns from these new investment options, one should still take time to do one's own research, and you should never put in money that you can't afford to lose.

But investing doesn't always necessarily mean putting your money into getting gains. For instance, investing in yourself provides returns in different ways like improving your career prospects, building your confidence, and opening doors for new opportunities.

Here are a few smart ways to use your 13th month pay toward investing in yourself.

Upgrade your gadgets

Reliability should be your top priority when buying gadgets. You should always think about its lifespan and how long it can serve you. Who wants to shell out big money on something that's only usable for a year or two?

Laptops, smartphones, and cameras with good specs usually come with a higher price tag but for the most part, a lot of these pack future-proof features, which make them usable for the next five or more years, which may more than make up for your hefty initial investment. 

Check your mental health

Aside from your physical health, your mental wellbeing should be a priority. One way to invest in your mental health is by seeking therapy. Despite the taboo and misconceptions around it, seeing a therapist isn't just for people in distress. Checking on your mental health should be just as normal as going to a dentist or a physician.

"The benefits of therapy extend far beyond periods of crisis," said Ryan Howes, Ph.D., a California-based psychologist. “Many people want more than to be ‘not depressed.’ They wonder what they can do to be the happiest, most productive, most loving version of themselves.”