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Zhi Finance » My salary has increased by 10%, How to use this money?

My salary has increased by 10%, How to use this money?

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Know what to do with the increased salary to make the money work. Just think about spending more money to eat, drink and play. Even if the salary is increased, it will not play a big role in your family in the long run. Use your money in a planned way. Over time, it will have a significant impact on your family status.

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See which of the following situations can best reflect your situation, and follow the corresponding guidance to maximize your salary increase.

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1. Debt ridden: Maybe you have too much debt. Every month you have to pay off your credit card debt, car loans, or even one or two payday loans with every penny you bring home. It’s hard to make ends meet. Then take some money out of the rising wages to repay the minimum amount of debt, such as the payday loan, and quickly reduce the monthly debt repayment situation.

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2. Living from hand to mouth: If you are always thrifty and have no debt, you just don’t save much and don’t have a house. Now the most important thing to consider is buying a house. Save the extra money as a down payment; Seriously consider keeping the family in a stable state.

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3. The house is very shabby: if you just bought a house and can’t do much else at the moment, or even haven’t participated in the 401 (k) retirement benefit plan or saved money for your child’s college education, it’s time to join the 401 (k) retirement benefit plan and/or save money for your child’s college education.

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4. Still driving a broken car: People who have been driving the same car for ten years want to go out and buy a brand new car with loans. It’s easy to buy a car with a dealer. Don’t hurry to do so. Save the money for six months, take this cash, sell the old car at the same time, and replace it with a car that you will be happy to drive for several years. Then, while saving money, you will wait for a good car that is very exciting to drive. Please pay for the car yourself!

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5. Happiness: If everything is under your control, you have paid off your car loan, and you have saved your pension and your children’s college money normally, then think about how to do good with your money. When you are blessed, it is also a great opportunity to bring blessings to others.

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Although the above situations may not fully reflect your situation, you can listen to some suggestions and see how to use the money you have made. When making decisions, we should work for the welfare of the family from a long-term perspective, so as to gain the most happiness. Spending money to watch more basketball games or go to the famous steakhouse “Apple Honey” for a few meals will not bring stability to the family’s future needs. What you want is for your children to grow up in a stable family, get excellent grades, go to college, grow up physically and mentally healthy, and appreciate their parents’ efforts. Imagine the future you really want, and then let go to create it.

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