Paying off debt
Age: 33
Hometown: Las Vegas
Profession: Lawyer
Bonus: $10,000
Over the past three years my debt has become much worse because I had a house that was very difficult to sell. The house sold but in order to not make a short sale I had to borrow a significant sum. While I was making the hefty mortgage payment I was pretty much living off my credit card. Now, I've been concentrating on paying the credit card portion of my debt.
How I'll spend it: Unlike previous years when I might be tempted to shop or upgrade my computer, this year's bonus is going straight to paying off a chunk of debt. As much as I'd like to have it as "fun money," that isn't happening this year. In past years when I'd gotten bonuses I'd blow it on frivolous things I wanted but definitely didn't need. This year, I put it all toward my credit card debt, except $300 or so, which went toward a very small treat.
NEXT: Paying a bill
