Receiving a raise is an important achievement, and managing the additional income wisely is crucial. Avoiding lifestyle creep—where luxuries become necessities—is essential. Start by saving for emergencies and paying off high-interest debts, which can provide financial relief. Revisiting your budget to identify waste and setting up an investment plan for retirement is also advised. Additionally, consider creating a vacation fund for enjoyment and giving to causes you care about, all while making valuable home improvements to increase your net worth.
Lifestyle creep can make expenses that once felt like luxuries seem like necessities.
A monthly budget can help you separate wants from needs.
If you're carrying debt, do yourself a favor and focus on paying it off before you become accustomed to earning more money.
Life doesn't have to be all work. Reward yourself by starting a vacation fund.
Collection
[
|
...
]