As government servants in Brunei receive their annual bonuses today, the season presents an opportunity for both celebration and financial reflection.
In an interview with the Bulletin, civil servants and university lecturers shared insights on how to make the most of this once-a-year windfall, emphasising the importance of financial discipline and planning.
A lecturer in the Malay Studies Programme at Universiti Brunei Darussalam (UBD) Dr Najib Noorashid encouraged prudent spending, noting that the bonus is a reward for hard work and dedication. “With a significant sum comes the need for equally significant self-control. Spend it wisely and responsibly,” he adviced.
He highlighted the value of using the bonus to address important priorities, such as clearing debts, investing in personal development, supporting loved ones, or contributing to those in need.
“This could be an opportunity to pay off outstanding bills, reward yourself, or share with family. At the same time, don’t forget to save for the future and establish a financial safety net,” he said.
Reflecting on his personal approach, Dr Najib shared that a portion of his bonus is allocated to supporting his mother. “An immediate portion goes to my mum, who is under my care. This amount is slightly more than her usual monthly allowance. The rest I divide between saving for future needs, such as travel, and setting aside some for myself,” he explained.
Meanwhile, a lecturer in UBD’s English Studies programme Dr Mayyer Ling binti Mohammad Tony Ling emphasised the need to prioritise financial stability. She underscored the importance of planning expenditures carefully. “The next bonus will only come in December next year. Start by setting aside funds for emergencies and topping up savings or investments. Plan your spending to focus on needs, such as household necessities, bills, or school fees, before indulging in personal wants,” she said.
Dr Mayyer also provided valuable insights for parents, highlighting the significance of creating a financial safety net for their families.
“Real investments may not provide immediate high returns, but they grow steadily over time, ensuring stability when children are older,” she noted.
She suggested contributing to education savings plans, gold savings, or fixed deposits as ways to secure long-term benefits.
For parents with school-going children, Dr Mayyer recommended prioritising educational expenses, such as books, tuition fees, uniforms, and extracurricular activities.
“Additionally, consider upgrading essential home items that support family well-being,” she added.
She cautioned against impulsive spending and overcommitting to unnecessary loans.
“The biggest mistake is splurging on non-essential items without proper consideration. Resist peer pressure to match others’ spending habits, especially during festive seasons like December holidays, New Year, Ramadhan, and Hari Raya,” she advised.
A government servant Siti Nadiah Wahidah binti Haji Saini echoed these sentiments, advocating for financial discipline and mindful spending. “You need to be frugal and disciplined in planning your finances wisely. Save at least 15 per cent of your bonus for emergencies,” she recommended. She also emphasised the benefits of investing in value-adding assets. “Bonus funds can be used to purchase assets that add value to your financial position, such as gold,” she said.
At the same time, Siti Nadiah cautioned against spending driven by impulse. “Many people shop without consideration and spend beyond their needs. To avoid this, monitor your expenses and plan your finances. Before making a purchase, ask yourself if it’s a need or a want,” she advised. The collective advice from these professionals highlights the importance of approaching the bonus season with a balance of self-reward and financial prudence.
By prioritising savings, investments, and thoughtful spending, Bruneians can use their bonuses to not only enjoy the present but also secure their financial future. – Fadley Faisal
