It feels good if you as an employee receive a raise. Because the higher salaries can make you more motivated in work.
However, salary increases are often a problem, especially for younger employees. Therefore, raises should be addressed wisely so as not to regret in the future.
there are some things you must do when receiving a raise.
The first is the form of emergency fund.
Everyone including employees should have emergency funds. The reason, this fund can be used at any time when you need it, for example to repair a vehicle or a house, the need for children, as well as emergency healthcare costs.
Experts advise you to have an emergency fund at least equivalent of three to six months of your spending. This will allow you to have safe and liquid funds when needed.
Once your salary goes up or receives the bonus, directly transfer the money to the emergency fund account until it reaches the amount you are targeting. Do not forget, putting money right away will help you successfully set aside money.
In addition to establishing an emergency fund, it helps you also raise funds for future retirement. Although the benefits can not be enjoyed right then, but in your retirement, you will feel calm and comfortable.
Second, do not change shopping patterns.
The changing and exaggerated lifestyle is the enemy of wealth formation, according to Tom C Corley, author of Rich Habits: The Daily Success Habits of Wealthy Individuals.
It feels good to fulfill the desire with the money you have, but this is a bad habit.
"Good habits are to put aside the desire to spend money today and instead the money is saved and invested so that its value grows and provides a financial source that can be used in the future," @cekblack