Thought Question - money habits?

"You just got a raise" - so what would you do with an extra $300 - $500 a month (per month)?

buy my kitties the cat tree ive been wanting to get them the really big one that is like 190ºº...and take my husband out to dinner
this is the tree

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Put it in savings.

Put it in savings for a bengal, if I am lucky to have one already, then to save for traveling! I love going to see new places around the world. I would also have to spoil the kitties!

Pay off all my debt (credit cards, loans, ect.) with the extra money a month.

I would pay down existing debt first, then make sure at least half would automatically go in savings and then pay cash for more items instead of using CC. If it was Neil he would (and has) save the entire raise

Hmm... well immediately my yearly savings target would increase about $5k. Then the rest I would use to get Shami this sweet cat tree:


And maybe I might do something for my car, or get another gun

Speak to your banker about investing it and don't touch it.

You lived without it so just pretend you don't have it and stick it in the bank.

A raise doesn't automatically mean you have to find ways to spend that extra money.

True, but the point is that you need to know WHERE that extra money is going

Mostly I would increase my savings and my donations to charity.

I would also consider moving to a larger apartment, but that's not a top priority.

I'm not a big spender and I'm perfectly happy with that.

I'd go shopping!

(by the way, that's not a really though question. If you want to make it hard, you have to ask "what would you do with $300 LESS a month )

Originally Posted by marie-p

(by the way, that's not a really though question. If you want to make it hard, you have to ask "what would you do with $300 LESS a month

)

Click to expand...

Oh haha, that one is actually easier for me. I'd move and find another job

First off: That's a very good raise. Are you hiring?

Secondly it depends on the situation. If I had just gotten out of a financial stresser, more than likely I would need new clothes.

However if I were financially stable before, I would increase my 401K if I weren't at the max and/or begin to stuff it away for a new house.

Extra payments toward *principal only* on my mortgage, student loan and car.

I could finally have nice things.

I DID just get a raise but, it's only about $100 per month. Since I'm saving toward buying a house, that's just bit more toward that.

Save it. I pinch a penny so tight that Lincoln's eyes bulge. I'm cheap.