Thursday, August 31, 2006

Pay Hikes: Spent on Arrival

New position, new paycheck and the money is already spent. I've done that. I'm getting better with birthday checks and other windfalls. My Strategy: I stash away or carry the check in my purse until I have time to make the deposit in my savings account. It's a new system and it's working.

(My birthday was in July and I still haven't touched the check from my Aunt.)

On the topice of pay raises: MSN Columunist MP Dunleavey has a good piece today about getting more mileage from pay increases. Her suggestions are helpful: set priorities, avoid upgrades, tinker with the budget.


prlinkbiz said...

It's so true- This is why you can have people who make hundred of thousands of dollars a year- even millions- who still live pay check to paycheck! For me, if I don't give myself access to it, I don't spend it.

Frugal Duchess: Sharon Harvey Rosenberg said...

Thanks for your comment.
You'r right. I once interviewed a banker who told me that I would be surprised at the number of allegedly high-net worth individuals who live from paycheck to paycheck.