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February 12, 2024

So you got a raise? Here's what to do with the money

  • Think about what you want to accomplish, then organize your finances accordingly.
    • By CHANELLE BESSETTE
    NerdWallet

    Whether it's a 5% increase or a 20% bump, a pay raise at work is an opportunity to take charge of your financial priorities. A small raise might not seem like much when it's broken down into a biweekly paycheck, but over time, that difference in income could provide a boost to your lifestyle or be put toward other financial goals.

    Whether you decide to pay off debt, pad your safety net, invest, give back, improve your quality of life or treat yourself, a raise is a good time to think about the direction of your financial life.


     
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