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Thought Question - money habits?

post #1 of 38
Thread Starter 
"You just got a raise" - so what would you do with an extra $300 - $500 a month (per month)?
post #2 of 38
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
post #3 of 38
Get more Ocicats
post #4 of 38
Put it in savings.
post #5 of 38
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!
post #6 of 38
Pay off all my debt (credit cards, loans, ect.) with the extra money a month.
post #7 of 38
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
post #8 of 38
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
post #9 of 38
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.
post #10 of 38
Thread Starter 
True, but the point is that you need to know WHERE that extra money is going
post #11 of 38
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.
post #12 of 38
I'd go shopping!
post #13 of 38
(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 )
post #14 of 38
Originally Posted by marie-p View Post
(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 )
Oh haha, that one is actually easier for me. I'd move and find another job
post #15 of 38
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.
post #16 of 38
Extra payments toward *principal only* on my mortgage, student loan and car.
post #17 of 38
I could finally have nice things.
post #18 of 38
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.
post #19 of 38
Save it. I pinch a penny so tight that Lincoln's eyes bulge. I'm cheap.
post #20 of 38
Put it in our money market (account for land/house downpayment)

Speaking of raises, I just got one, too
post #21 of 38
1. Increase my 401K contributions
2. Put half of the remaining into savings
3. Use the other half to fund spay/neuters in a high kill area of Virginia.
post #22 of 38
Save for a house first. I could use some new clothing and things like that. Plus I just found out they are discontinuing my china pattern next year so I'd really want to get that now. (That is important to me. I've always dreamed of a pretty dining room with nice elegant china, and now I have half a set!)
post #23 of 38
I actually did recently get quite a decent size raise. I'm planning on paying off some debt initially, then I'm going to up my 401K contribution. I'm only 29 and I'm trying to save into my 401K as much as I can - we can't count on Social Security to be there when we retire, can we?!
post #24 of 38
Pay off debts, when that's finished put it aside in savings until I have a good nest egg so to speak to live off for a few months if I were to loose my job. Then I'd move to a place where I can have a cat safe fenced in garden so Nikita could go outside and be safe.
post #25 of 38
Stick it in my savings accounts to gain interest
post #26 of 38
This has actually happened to me within the last couple of months due to a change in jobs with higher pay and more hours, my take home pay is over £500 more a month than it was previously

I actually don't know what to do with myself now, I'm used to living on a very low income, I seem to have a psychological inability to spend money on myself, and so I'm not spending most of that money, although I am using some of it to get my debts paid off and I aim to be debt free (besides the mortgage) within the next 3 years. I am putting some aside for a rainy day but I don't have any investments or anything like that, it's more a case of sticking what I have left at the end of each week under the mattress
post #27 of 38
holy shnikeys that's a humongous raise!!! I'll be getting something akin to that, as soon as my garnishment is paid off I'll be taking home $600 more a month but anyway, if I got that big of a raise, I think I'd buy myself a couple nice things, like a new washer/dryer set and an elliptical machine, then start socking away at least half of it for savings
post #28 of 38
I'd pay off all my debts and work on the house. (and of course, spoil the kitties)
post #29 of 38
Is that gross or net? Makes a difference...

At this point, every cent extra would go to my dentists. After they get paid off, I'd start paying down credit card debts. I'd rather pay credit card debts first, but my teeth don't give a darn about my priorities.
post #30 of 38
Hmm...either put it in savings or use it to help pay off our mortgage and/or cars, which would lower our interest a little.
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