How to Make the Most of a Raise

Getting a raise is the seemingly ever-elusive dream of employees around the globe. With wages falling flat and stats about only half of Americans getting raises last year, it can be easy to get discouraged. But if you truly believe you’re doing good work and deserve a raise, ask for it!

Your instinct may be to avoid the stress-inducing experience of asking for a raise, but according to recent data studies, 4 in 5 workers who ask for a raise get one! That percentage alone should be enough to inspire you to set a meeting on your boss’s calendar.

Below, you can read more about what to do once you get a raise. It’s easy to let lifestyle inflation creep in, and before you know it you haven’t increased your savings and you’ll be wondering where all that money went. Luckily, Credit.com created this infographic of 7 things to do before you spend your raise. Of course, it’s healthy to celebrate your successes, but consider their tip of not allocating any more than 30% of your income to discretionary spending when you’re browsing for that perfect bottle of bubbly.

Infographic Credit

SEE ALSO: 12 Cognitive Biases that Hurt Our Finances [Infographic]