New Delhi, Nov. 7 -- Have you received a Diwali bonus of Rs.10,000 from your employer? Before spending the festive windfall, consider whether you should use it to clear outstanding credit card dues or start a mutual fund systematic investment plan (SIP) to build long-term wealth.

Here's what an expert suggests and how the numbers compare for each option.

Vedant Gupte, Co-Founder and CEO of investment platform Trackk, said Diwali bonus is a rare chance to reset your finances, and the smartest first move is almost always clearing any revolving credit card balance.

"Card interest can run upwards of 36% a year, a rate no mutual fund reliably beats, so paying it off is a guaranteed return no SIP can promise. Think of it as investing in your...