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Raise In Income

January 7th, 2012 at 03:16 pm

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?

Posted in Income | 3 Comments »

3 Responses to “Raise In Income”

  1. Joan.of.the.Arch Says:
    January 7th, 2012 at 03:20 pm 1325949630
    1325949630

    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:
    January 7th, 2012 at 09:08 pm 1325970490
    1325970490

    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:
    January 8th, 2012 at 04:05 am 1325995535
    1325995535

    What about adding it to your truck loan payoff?

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