I've gotten some of those big raises. The lion's share went into paying off debt and increased investments. We still live like college students in many ways. We could spend more, but having things just doesn't interest us. We do a lot with a local cat adoption agency, that's our big spending "vice".
2 weeks ago | 5
I have everything set to percentages. So if pay goes up, more gets invested at a dollar amount but the percentage stays the same. And then evaluate as necessary, because don't need to overfund the 401k or IRA
2 weeks ago | 2
A raise 😂, not sure if that exists too much as of now, let alone even having a job, definitely not
2 weeks ago | 1
I had a 28% raise when child support dropped off. Credit card spending ceased, repayment began.
1 week ago | 0
I do 50/30/20 so I stick with the percentages and let the amount in each percentage go up
2 weeks ago | 0
Goes into savings for a down payment.... Or put down a down payment if it''s enough. 😆
2 weeks ago | 0
I don't think I've ever gotten a real raise, mostly just inflationary raises, which then get eaten into by inflation
2 weeks ago | 0
They raise pay and then they raise insurance that eats the pay raise. You also pay more in taxes. The more you make, the more they take.
2 weeks ago | 0
For me personally it will help me build my emergency funds because currently half my monthly income goes to mortgage.
2 weeks ago | 0
I already live a good life with the money I make, so for me, it is going into investments. One of my investments made over 15% and that will be the one I am investing it in.
2 weeks ago | 0
Vincent Chan
You get a promotion with a 20% raise. What happens to the extra money?
Let me know in the comments how you'd handle a big pay increase!
2 weeks ago | [YT] | 73