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Raise In Income

January 7th, 2012 at 07:16 am

Members of the military are getting a raise this year. A raise of 1.6%. For my husband that is an net increase of $47.08 per pay period. Or $1129.92 for the year.

I need to make a plan for this money!! It would help if I was clear on our goals.

I could set aside each month to put into our emergency fund. Or use it to fund more college expenses. I could also increase his TSP investment amount and call it retirement savings.

Obviously...we have a decision to make! Any other ideas on what I could do with it?

3 Responses to “Raise In Income”

  1. Joan.of.the.Arch Says:

    Have you considered that you might apply a portion to your basic needs? I just heard that general food inflation was 6% last year and 3% was being predicted for this year.

  2. LuckyRobin Says:

    Did you know this entry posted twice? Anyway, I'd say it'll probably be absorbed into the food budget, but if not, I'd add it to the EF.

  3. frugaltexan75 Says:

    What about adding it to your truck loan payoff?

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