Comments on: Don’t let a pay increase put your finances in jeopardy

By: Fabulously Broke

Fabulously Broke — Mon, 03 Mar 2008 16:20:22 +0000

Great tip

I actually budget based on my original salary even though I get raises/bonuses (I wait until I get the $$) and then I just make it “EF” designated so I don’t miss it

By: JEM

JEM — Fri, 29 Feb 2008 15:15:23 +0000

I just got my annual raise and it goes into affect next payday, I already firgured it out and its only 40 bucks more every two weeks…very under whelming, we have been living fine on we make now, the 80 bucks a month will go into the 401k, not that it will make that much difference, but this is great advice.
Now hubby will get a 10% raise in September, that will be more exciting and we may upgrade our lives a little but we will try to save most of it.

By: Matt

Matt — Fri, 29 Feb 2008 13:57:19 +0000

Getting raises in the past has been very sobering - most of the time I was barely able to notice the fact that my paycheck went up at all. Very sound advice not to spend the money before you have it.

By: Tread Softly

Tread Softly — Thu, 28 Feb 2008 19:59:25 +0000

This has been a real challenge in our house in the past and present. It’s hard for me not to start fantasizing every time Darling applies to a job and mentions a potential new salary. The moment he’s employed again, we’ll start updating our wardrobes and looking to purchase camping supplies and start talking about buying a scooter again…If we can survive on a single income, why take on more (unnecessary) financial responsibilities rather than stash the excess away in a high-interest savings account?

By: plonkee

plonkee — Thu, 28 Feb 2008 19:11:41 +0000

This is good timing. Our annual pay rises are posted on the 1st April and I need to remember that even if it’s a good amount, it’s not going to be all that much every month.

Fortunately, since we are paid monthly, I’ll have got over the excitement by the time I actually find out what my new take home salary is.