Your MLM Bonus Check: 6 Things You Could Do with It

So, you’re getting a nice MLM bonus check each month…


You might be asking yourself, “what should I do with this new income stream?”

While I am NOT a financial planner or accountant, I simply want to share some ideas for you to think about.

DISCLAIMER: Please trust your own instincts and counsel with your CPA or financial planner before make any major financial decisions.  This is just my opinion.

Being smart with your money is very important.

Most people are not smart with their money.

Most people spend more than they make and have very little, if any savings.

Whether you make $100 per month with your MLM business or six figures per month, you need to be smart with your money.

Yes, you should enjoy your money, but you should also try to GROW IT and SAVE IT.

Use it wisely and make it multiply.

Listed below are six things you can do with your MLM bonus check.

# 1 Put Aside Money for Taxes

The tax man always comes first, whether we like it or not.

A lot of people in our industry don’t realize they will have to pay taxes on their end of year profits.

Just so you understand, your tax responsibility is determined by your end of year PROFIT, not the amount you received in your bonus check.

Many new distributors who make a good income with their network marketing business don’t save any money for tax time, and then they get stuck with a big tax bill they can’t afford.

Don’t let that happen to you!

I suggest you save 20 percent of each bonus check and put it in a separate savings account.

Use this money to pay your quarterly taxes, or at least keep the money in the savings account until AFTER you file your end of year taxes.

That way you have the money saved, in case you owe money for taxes.

It’s better to have the money saved and not need it than to owe money and not have it.

I don’t enjoy paying taxes either, but it is a responsibility that we all have.

mlm bonus check# 2 Re-invest in Your Business

This idea won’t sound sexy to most people.

My train of thought is that ALL businesses should reinvest at least 50 to 70 percent of their revenue back into their business for the first few years.

It takes time to build up a stable business of any kind.

Your business is like a baby.

You need to nurture and develop it if you want it to grow.

Yes, I know you need money now.

Everyone does.

But don’t be so shortsighted with yourself.

Invest back into your business for the first few years so you can grow it and build a STABLE business that pays you for many years to come.

How should you invest in your business?

You can invest in your education, your marketing, your team-members and your personal development.

Other Posts You Might Enjoy

  1. How to Manage the Money and Cash Flow in Your Business
  2. The Money is in the List
  3. The Money Producing Activities
  4. Preparing for Your Small Business Taxes
  5. 34 Ways to Get More MLM Leads

# 3 Build Up an Emergency Fund

Most people have very little money saved.

Most people in America are living paycheck to paycheck.

If their car breaks down, they are screwed.

If anything major happens, they don’t have a way to pay for it.

This is really sad.

Most people have more money in their pocket at age 18 than they do at age 65, after working for almost 50 years.

How crazy is that?

Take a percentage of your MLM bonus check and use it to build up an emergency fund.

Keep saving until you have at least a few months of living expenses saved up.

There’s nothing like knowing you have money in the bank, in case you need it.

You need to save for a rainy day, because it’s going to rain at some point in time.

# 4 Pay off Debt

Other than reinvesting back in your business, one of the best things you can do is pay off your debt, especially credit card debt.

Try to stay out of debt as much as possible.

I understand there is good debt and bad debt, but most people only have bad debt.

Pay off the car, loans and credit cards as quickly as you can.

Being debt free should be everyone’s goal.

It feels good to not owe anyone anything.

# 5 Invest for the Future

Take your MLM bonus check and invest it into your retirement account.

Create an IRA or 401k and start saving as quickly as you can, as much as you can.

Even if you are young now, you are going to want to retire one day.

You wake up one day and realize you are old.

When you’re young you don’t think about it.

The days go by slowly, but the years go by quickly.

Most people will never have enough money to retire with dignity.

Don’t let that happen to you.

Talk with your financial advisor and make a plan.

Even saving just $25 to $50 per month can really add up over a period of time.

# 5 Improve Your Lifestyle

This is what most people do with their MLM bonus check.

I am not against doing this, but most people do it way to soon.

Most people raise their expenses whenever they raise their income.


Yes, you have the right to do this.

It is your money.

It’s your MLM bonus check.

But, why not practice delayed gratification?

As I see it, improving your lifestyle should be the last thing you do, only after you have done the above listed things.

# 6 Help the Needy

I personally believe we all have the responsibility to give back and help the needy.

Why not take a percentage of your bonus check each month and donate it to charity, tithe, or help a cause you are passionate about?

I know most people won’t agree with this, but some of you will.

From personal experience, I’ve found that that the more I give the more I get.

It also feels good to give back and help other people.

Final Thoughts

There you have it folks.

These are six things to do with your MLM bonus check.

I would love to hear from you.

What are your thoughts?

What do you recommend and why?

Leave a comment below to let us know what you think.

Have a great day.

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Chuck Holmes


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SKYPE: mrchuckholmes

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