Question

Each quarter I get 2 checks that aren’t payroll. One is a production bonus and one is a dividend check. Do I handle these as I would a paycheck? Or just straight put them to debt?  

Answer 1

You could do either one . If it were me and I had debt I would put the whole check to debt as soon as I got it

Answer 2

I'd say it depends on your goals and what step you are on. If you don't have your EF in place then I would probably start there. If your current goal is debt payoff then I would apply it to debt.  

Answer 3

They are income for Tracking purposes but not budgeting purpose. I would pay bills and make sinking funds (if you already have your emergency fund)

Comments

@saboteur this is what I thought.  

Answer 4

My husband gets a yearly bonus & dividend. Because we have debt, we're putting 100% to debt.  

Answer 5

I give all bonuses and tax refunds their own tracker. Our paychecks cover all of our bills so the extra money that comes in fills our sinking funds, goes to debt, or buys anything that is high on our wish lists but wasn't priority enough to buy throughout the month (for example with our taxes my husband is getting a couple new polos, I need a new pair of jeans because mine have holes, my favorite flip flops broke a couple months ago, my son needs a couple new tees, and we wanted a new bookshelf for our living room. These all could have been purchased but they weren't "needs" so they wait until extra income comes in. )