Read Time: 3-minute article Smart ways to use your bonus This content is categorized as: Build financial knowledge If you receive a bonus check from your employer this year, it’s important to take a look at your overall financial picture to make sure you’re taking the best advantage of that extra cash: 1. Pay down debt If you have high-interest, non-mortgage debt such as a car payment, student loan or credit card debt, this is a great place to apply your bonus — potentially saving thousands of dollars in interest long term. The average U.S. household owes more than in credit card debt, with the average interest rate over on unpaid balances. Using these example amounts, paying only the minimum balance each month could cost you close to an additional in interest and take you more than 18 years to pay off — almost doubling the cost of
