Comments on: Put Your Savings in Hyperdrive, Part 6: Make Your Raise Invisible http://www.consumerismcommentary.com/put-your-savings-in-hyperdrive-part-6-make-your-raise-invisible/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Tue, 29 May 2012 02:26:10 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Colin Joss http://www.consumerismcommentary.com/put-your-savings-in-hyperdrive-part-6-make-your-raise-invisible/comment-page-1/#comment-134639 Colin Joss Mon, 28 Jan 2008 05:32:13 +0000 http://www.consumerismcommentary.com/2008/01/22/put-your-savings-in-hyperdrive-part-6-make-your-raise-invisible/#comment-134639 Margo, If I may suggest a further perspective.. I don't think there's not a percentage limit of how much you should save, unless you would probably want to take it easy and spend it on paid health postings like the gym memberships. Cheers Margo,

If I may suggest a further perspective..

I don’t think there’s not a percentage limit of how much you should save, unless you would probably want to take it easy and spend it on paid health postings like the gym memberships.

Cheers

]]> By: Margo http://www.consumerismcommentary.com/put-your-savings-in-hyperdrive-part-6-make-your-raise-invisible/comment-page-1/#comment-134158 Margo Sun, 27 Jan 2008 02:14:15 +0000 http://www.consumerismcommentary.com/2008/01/22/put-your-savings-in-hyperdrive-part-6-make-your-raise-invisible/#comment-134158 I'm feeling the pain of gas and groceries, and I already save quite a bit (20-25% of pay). My net pay increase is less than $100/mo each year, so I will probably use this year's raise to pay for a gym membership. I’m feeling the pain of gas and groceries, and I already save quite a bit (20-25% of pay). My net pay increase is less than $100/mo each year, so I will probably use this year’s raise to pay for a gym membership.

]]> By: Colin Joss http://www.consumerismcommentary.com/put-your-savings-in-hyperdrive-part-6-make-your-raise-invisible/comment-page-1/#comment-134051 Colin Joss Sat, 26 Jan 2008 02:39:45 +0000 http://www.consumerismcommentary.com/2008/01/22/put-your-savings-in-hyperdrive-part-6-make-your-raise-invisible/#comment-134051 Flexo, I think I am going to take your advice also following to adfecto suggestion, so it'll pay off even better. Thank's Flexo,

I think I am going to take your advice also following to adfecto suggestion, so it’ll pay off even better.

Thank’s

]]> By: Flexo http://www.consumerismcommentary.com/put-your-savings-in-hyperdrive-part-6-make-your-raise-invisible/comment-page-1/#comment-133760 Flexo Thu, 24 Jan 2008 14:57:08 +0000 http://www.consumerismcommentary.com/2008/01/22/put-your-savings-in-hyperdrive-part-6-make-your-raise-invisible/#comment-133760 Dave and Colin: These are both excellent strategies and will pay off down the road. Adfecto: Thanks for the affirmation! Dave and Colin: These are both excellent strategies and will pay off down the road.

Adfecto: Thanks for the affirmation!

]]> By: Colin Joss http://www.consumerismcommentary.com/put-your-savings-in-hyperdrive-part-6-make-your-raise-invisible/comment-page-1/#comment-133681 Colin Joss Thu, 24 Jan 2008 03:25:13 +0000 http://www.consumerismcommentary.com/2008/01/22/put-your-savings-in-hyperdrive-part-6-make-your-raise-invisible/#comment-133681 I like the salary raise calculation tip. My tip after the method above is applied, is to 'forget' the raise, and put them all in your savings. Colin Joss East Lothian, Haddington United Kingdom I like the salary raise calculation tip. My tip after the method above is applied, is to ‘forget’ the raise, and put them all in your savings.

Colin Joss
East Lothian, Haddington
United Kingdom

]]> By: Adfecto http://www.consumerismcommentary.com/put-your-savings-in-hyperdrive-part-6-make-your-raise-invisible/comment-page-1/#comment-133618 Adfecto Wed, 23 Jan 2008 16:48:11 +0000 http://www.consumerismcommentary.com/2008/01/22/put-your-savings-in-hyperdrive-part-6-make-your-raise-invisible/#comment-133618 Two different times in the past I have spent my promised bonus before it arrived. Huge problems resulted when the bonus never showed up. These two instances make the list of my Top 5 Dumbest Money Moves. Sure my employer "screwed me" but this situation isn't really their fault. It will take multiple years of applying the bonuses that actually do materialize toward debt to get back to square one. Let my mistake encourage you to follow Flexo's advice! Save your bonus or raise when it comes in and under no circumstances spend the money before it has hit your bank account. Two different times in the past I have spent my promised bonus before it arrived. Huge problems resulted when the bonus never showed up. These two instances make the list of my Top 5 Dumbest Money Moves. Sure my employer “screwed me” but this situation isn’t really their fault. It will take multiple years of applying the bonuses that actually do materialize toward debt to get back to square one. Let my mistake encourage you to follow Flexo’s advice! Save your bonus or raise when it comes in and under no circumstances spend the money before it has hit your bank account.

]]> By: Dave http://www.consumerismcommentary.com/put-your-savings-in-hyperdrive-part-6-make-your-raise-invisible/comment-page-1/#comment-133615 Dave Wed, 23 Jan 2008 16:00:23 +0000 http://www.consumerismcommentary.com/2008/01/22/put-your-savings-in-hyperdrive-part-6-make-your-raise-invisible/#comment-133615 I went thru this just the other day. And it was funny, as soon as I found about the raise from my manager my response was "time to tweak the 401k". Heh, he is only about 10 years older than me but apparently he doesn't think that way. But unlike you Flexo, I focusing straight on retirement. So I try to do a bit of reverse engineering. Take my old salary, give myself say an "x" amount of dollar raise, and then try to push the rest into my 401k. And it takes abit of massaging since it's not a direct correlation. Anyone know of a calculator that would do that in fact? I went thru this just the other day. And it was funny, as soon as I found about the raise from my manager my response was “time to tweak the 401k”. Heh, he is only about 10 years older than me but apparently he doesn’t think that way.

But unlike you Flexo, I focusing straight on retirement. So I try to do a bit of reverse engineering. Take my old salary, give myself say an “x” amount of dollar raise, and then try to push the rest into my 401k. And it takes abit of massaging since it’s not a direct correlation.

Anyone know of a calculator that would do that in fact?

]]> By: ChristianPF http://www.consumerismcommentary.com/put-your-savings-in-hyperdrive-part-6-make-your-raise-invisible/comment-page-1/#comment-133541 ChristianPF Tue, 22 Jan 2008 18:09:05 +0000 http://www.consumerismcommentary.com/2008/01/22/put-your-savings-in-hyperdrive-part-6-make-your-raise-invisible/#comment-133541 I like your method - the first thing I want to do when I get a raise is spend the money even before I see it on my paycheck. I did that for years and have finally have gained a bit of discipline over the last few years. I now apply similar principles to every raise - if you don't allocate it, then your expenses will just rise to the new level of income. I like your method – the first thing I want to do when I get a raise is spend the money even before I see it on my paycheck. I did that for years and have finally have gained a bit of discipline over the last few years.
I now apply similar principles to every raise – if you don’t allocate it, then your expenses will just rise to the new level of income.

]]>