3. Forget the Raise
Got a raise? Congratulations! Before you start spending this windfall, increase your automatic transfer to your savings account to reflect that pay increase. If it’san annual cost-of living increase, you’ve likely already adjusted to higher prices, and if it’s a promotion-related raise, you won’t miss the money. Instead of spending your extra pay, put it towards something that’s important to you, like retirement savings or a family vacation.
