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Tuesday, December 1, 2015

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Now you earn more, spend more?

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Now you earn more, spend more?


Usually one of the most common problems that occurs almost as a rule. But if you are of those who want to be part of the exception, know these tricks to prevent this situation from happening.

Now you earn more, spend more? Now you earn more, spend more?


In theory, when you achieve a higher salary may be more tastes and have more amenities and options than you could before. At the end of the day, it is a form of compensation for their hard work and effort to grow professionally. But if I had a very high financial responsibility, know that in the same amount you will spend, you should also save.

According to LearnVest, this tendency to spend more the more you earn is known as "inflationary life style" in which all costs increase as more profits are made, both in quantity and "quality".


But what really happens in these situations it is that it seeks to obtain products or services previously looked a little "unreachable" or which were not considered as useful or necessary before but now could provide greater comfort in other ways. So what to do?

Strategies


1. Ideally: first thing to consider is that this is normal and not have to feel guilty about it. Is simply being aware and, if within its terms, continue to manage the same budget it had before the rise and, again, leave everything as clear savings, a part for emergency fund and one for pensions and one for experiences (either travel or moments to share with those who most want).

2. The following strategy that can be applied is to reorganize its budget setting priorities. For example, if you know you have another type of transport would help you be more comfortable and quiet but get a little more expensive, do the math to see if the change can really be worth it or if you can continue making a sacrifice. So, you can consider other aspects: the possibility of taking a more expensive lease, but closer to home or also start paying the fee a car.

Ideally, depending on the proportion that has increased his salary, you only increase your expenses up to 25%. For example, if your salary increased 50%, new expenditure should not exceed 25% of that 50%, in figures: if your salary was $ 1,000,000 increased $ 500,000, ensure that your new expenses do not exceed $ 125.00 so you can save $ 250,000 and have a $ 25,000 monthly receipt.

This may help you to have greater control of their finances and have more responsibility when it comes to saving.

3. According to the expert consulting LearnVest the key is not to think about what and what not deprive costs about fun or luxury. The expenses you actually have to put consideration are those associated with the growth of their business or profession and the quality of life.

So an organization should do your expenses from high to low and then this, concentrate on what might be the ones to be cut larger.

Another advice is to close the door to unnecessary credit, either vehicle or cards, which can generate, it is greater than your budget 'hole'. while, the paragon is that this new income is allocated almost entirely to eliminate the debts that had previously.

Finally, avoid at all costs impulse purchases that they can do is to lose the budget horizon and generate greater impacts on monthly finances.

4. A new lifestyle can be the overnight, but accept those changes and adapt to them is something that is done only with time. Thus, this strategy is that it proposes to take "slowness" that new wage, even if those who are projected future as a person who wants to be a millionaire.

According to Money Crashers, the important thing is to make planning a new lifestyle with the passage of time. Then as early try to follow the same "tight" budget that was before the rise (the rest will go to debt and save 50% -50%) after the first quarter, begin to consider these changes to be done to him feel calmer and more comfortable. After all, remember to always be ideal to save between 10% and 20% of their salary.

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