Very few people would take their entire paycheck and spend it all on a three-week Europe tour. After all, there are bills and loans to be paid, and mouths to be fed. But a year-end bonus feels like a windfall, a reward for all the hard work you put in – and an invitation to splurge as you wish. But is it really? Your bonus is part of your earned wages for the year, and all bonuses received (be it your 13th-month bonus or performance bonus) are taxable. Should you then be treating money from your bonus that differently compared to money from your paycheck? Instead of splurging all of that bonus, make a plan to allocate it wisely in line with your long-term financial goals, while still setting aside some money to enjoy the fruits of your labour. Here’s how to make the most of it. Prepare for a...