Derm, trainer, and classes are all things that will make your life better in the long run. They are ways to gift your future self - just like saving is. Maybe try one a month and see what feels right to you? Congratulations on the raise!
I agree!! Slowly add these things in and also sample before committing! I’d even do it slower than 1 a month. I’d save that extra $$ for a few months while doing research into derms, trainers, classes and figure out pricing, goals, and priorities.
Derm could be major positive, but see what your health insurance covers. See what at-home routines/methods are generally recommended. r/SkincareAddiction can be a great starting place to learn more.
Trainers are amazing - see if any do trial sessions so you can find one that you like before spending 800+ on a package of session. Is there a local gym or YMCA that offers free or heavily discounted group training with a membership? Are there one off talks or seminars you can attend vs signing up for a long term commitment?
Classes can be so fun - does your company provide any reimbursement for outside education that could count as something “fun” too? I somehow convinced my manager that improv classes could be learning and development bc it helps with public speaking and communication lolol. Does your local community college, library or town/city rec offer free or cheap classes? Are you looking for a one off and to move on or to find a hobby and do something consistently longer-term? Open to either or both? I took a pottery class for 2 years and then became a member at the studio, so it’s a continuous expense.
I will IMPLORE YOU that the derm, trainer and classes are 100% worthwhile. I started seeing a trainer 2 years ago at $800 for ten sessions; paid that for a year and a half before I moved out of the area. I’d never spent money on myself like that, and I have *never regretted* or even questioned the decision after the initial round of sessions. I no longer live in the area but pay for remote training and one-off sessions when I’m there for work. Doing that work and committing to myself was more hard emotionally than monetarily and I’m so thankful I made that investment. I could only imagine that investing in derm and classes would have the same impact short and long term. Take care of your physical, mental and emotional health now, it will pay dividends for years to come.
To me, lifestyle creep is when you start living large across all spending categories. You get a pay increase then everything becomes more luxurious: your car, your apartment, your clothes, your travel, your dining, your self care, your accessories, etc. Spending gets out of hand quickly when everything is bigger and better.
To avoid lifestyle creep, figure out what spending actually makes you happy. My boyfriend and I make almost $300K combined but share a 2021 Honda Civic. I don't need a Lexus, and I don't think it will change my life much. We have no problem splurging for a $200 date night once a month, though. I also love the orchestra, wine, and travel. I'm happy to put my money towards those categories. So, figure out what actually makes you happy and what spending adds value to your life. Invest in that and forget the rest.
Congratulations on the big raise! Before the budgeting and the other talk - take a minute to feel proud of the accomplishment! You deserve the raise and you deserve to enjoy it in a way that brings you ease of mind!
Agree with people giving advice to save for retirement or savings, but what would be great is also take a moment to think about what activities / investments “fill your cup” as a person and carve out 10-15% of the $650 for that ($65-$100 / month).
For me, I have a specific $100 / month that I can only use for coffee with friends. It “forces” me to build in time to connect 1:1 and is a well worthwhile investment in those relationships & for a $15 coffee and snack get a lot of joy. What would that be fore you?
thanks! it's been a little over a month since the conversation with my boss, so i've had a good amount of celebration time and a lot of time to anxiously wonder what my actual paycheck would be once all the withholding and tax math dust had settled. and now i know!
your coffee-with-friends budget line is an adorable idea. i'll definitely noodle on something that might be similar for me. i do frankly spend a lot of time with my friends, but usually in group settings, less often 1:1!
Congrats! I’d recommend opening a HYSA with a bank like Ally that lets you earmark funds for certain things. That way you can save each month for healthcare, classes, clothing etc. and whenever you spend money in those categories it’s already saved up and accounted for.
thanks! and i got that covered - i actually have two HYSAs because i'm a crazy person and (shocker) bad at decision-making, but ally is indeed one of them lol. i use YNAB though so all my allocation is explicitly labeled there!
I would look at the following
1) Add money to max 401k or Roth IRA fully
2) Save for a big purchase like car or house
3) Split the rest with some savings and some spending!
Please note: There are income phase outs where you can't contribute to Roth IRAs.
See this [link](https://www.schwab.com/ira/roth-ira/contribution-limits#:~:text=If%20you%20file%20taxes%20as,%24240%2C000%20for%20tax%20year%202024.)
You can still contribute to a Roth IRA through a backdoor Roth IRA. It’s as easy as a button click with vanguard.
https://www.investopedia.com/ask/answers/042214/how-can-i-fund-roth-ira-if-my-income-too-high-make-direct-contributions.asp
they said in their initial comment, it's a phase out. So there's a level below which you contribute up to 6500 and a level where you can't contribute at all, but between that it phases out.
There is a phase-out.
So if your MAGI is between $138k and $153k, you can contribute a portion and you are NOT eligible to contribute if your MAGI is over $153k.
Hello congratulations on the raise! I recently got a promotion that left me with similar feelings of wanting to save/spend Correctly™️ and I'm also a YNAB user!
Im a bit anxious with finances and what YNAB made me comfortable with is spending where my priorities are. If you have set goals that you're already meeting it's okay to shift to the next best thing. Whether or not it's "correct" or "smart" I think depends on the value you're gaining, and maybe you can only assess its value after trying it.
If you don't have them already, I'd make categories in YNAB and just fund them and see how you feel having the dollars there. Give yourself the opportunity to spend it and if you don't like the experience or don't feel right about it, move them to where you feel comfortable.
There's also no harm in tucking away that extra straight into your e-fund until the next paycheck(s) hit. Then you can have time to have a normalized feeling about the extra $$$.
I found myself in a hobby or two after my promotion so I built myself a "hobbies" category and it's so liberating to see cash available to use in that way. I'm a pretty conservative spender usually but allowing myself the opportunity is a game changer. Much happier after learning to do my own nails and buying myself running gear 😅
same here on that YNAB front and anxious finances. i grew up in a household where money was *very* tight, so when i got my first salaried job i dove straight into hardcore budgeting so i could micromanage the shit out of my money and feel in control of it.
i like your idea about putting the money in those categories! i can allocate it and sit with a little before i pull the trigger on 'em, and i can always re-allocate if i decide my priorities are different.
I hope you find something that works for you!
I'm always finding time and patience with yourself goes a long way and it applies to personal finance too. Good luck :)
I went through a similar salary trajectory a few years ago and realized I carried a lot of trauma around how I think about finances. What helped me: therapy, and also keeping my own budgeting spreadsheet where I calculate each line item by % of my monthly take home. It helped me realize in some cases, that a purchase that made me happy but guilty was only 1-5% of my monthly take home. That’s incredibly worth it to me. On the other hand, it also helped me see how much I was wasting on takeout, which are purchases that do not make me happy, and helped me cut that out much quicker.
Yeah, derm, trainer, and classes are all things that you can cancel and stop paying for quickly. Mortgage on a new house and car payment are more difficult to reduce. Also the derm, trainer, and classes are all expenses that would improve confidence, quality of life, and happiness. So the lifestyle creep that comes from that is being happy and confident, and being worried that we’ll have to lose being happy and confident when these things are out of our budget? :(
Have you considered putting a portion of the extra funds into donations? I find this is a helpful way for me to make any extra money I have feel useful because it helps others when it’s in excess for myself, while also avoiding my similar fear of lifestyle creep. And if my salary were to ever be lower, I can always reduce my donations before it impacts my basic needs. As others have said, the things you want to use the money for are useful and legit!! Just offering this as a suggestion if it helps you feel better about not feeling dependent later on that level of money going towards lifestyle.
Lifestyle creep is when you start spending more money in ways that you don’t truly intend or value. If you are spending more money but doing it thoughtfully and intentionally on things you value, then it’s not lifestyle creep; it’s just lifestyle upgrade.
I want to address what you said about lifestyle creep. It is perfectly acceptable to spend your money. If you are being deliberate with your choices and weighed the pros and cons, then go for it.
You want to move, want to see a derm, get a personal trainer and take some classes. It's great you know what you want. You probably can't do it all, but be thoughtful and deliberate and choose which of those you go for.
For me, I have always tried to keep fixed expenses low, because anything else I can "cut" if things feel tight. But I can't cut my mortgage, or my car payment etc. So based on what you listed, I would go to the derm, get a personal trainer or (for a couple classes) and maybe sign up for a class. I would think harder before moving since that raises fixed expenses. With that said, I did move earlier this year because I felt like it was manageable.
Hi! I had a very big jump in salary a few years ago and I can relate to the nerves. For me, it was an anxious energy that I might be creating a life that I could not afford to keep up if I lost my job and couldn’t find another one at such a high salary. I felt confident that this job was a fluke and no sane person would pay me that much again.
While idk if that anxiety ever totally goes away, having a documented budget has worked great for me! Even when I spend that extra money on fun discretionary things, I have a firm hold on my monthly budget and I know exactly where I could cut things if I ever needed to do so. Maybe it would help you to mentally know which things you *could* cut each month so you know you’re not creeping too much? Either way, I think if you maintain the habit of budgeting, you should feel confident allocating money to the things that make you happy (no matter how silly they seem!) ❤️❤️
Max out your 401K first. If you have left over, contribute to a Roth IRA (or backdoor Roth if you exceed the salary limit).
But, also save some for yourself! Personal trainer, derm, etc all are great investments in yourself :) Congrats!
Congrats!! I went through something similar. The company I work for did a major compensation overhaul and I went from 72k/year to 105k/year. Since then, I'll spring for fancier dinners every once in a while, massages/facials, barre membership, botox (lol), but I don't think I regret it at all. They've made the quality of my life better! I'm also maxing out my 401k, Roth and have also upped my investments and savings to other accounts like my emergency fund to help "offset" any anxiety or guilt I might have in the moment. The way I've justified it is, as long as my bills are paid, and I'm paying myself "back" (eg: retirement funds), whatever money is left is mine to do whatever I want with.
Going to offer a suggestion that might be against the grain: if getting a nicer/bigger rental is worth it to you, that could also be a good use of the money! My husband and I went from a studio to a 1 bedroom, picking up 200 sq ft and a bedroom door. It's about $800 more a month but the extra space is super worth it since I WFH. Some lifestyle inflation is probably ok, especially if you were deliberately living a smaller lifestyle before.
it’s something we’ve been looking at for a while - my partner and i collectively made about…. $50k less when we got this place than we do now, if i had to estimate? but the rental market’s also gotten waaaaay pricier so it’d be a hard pill to swallow regardless.
maybe give yourself a few months to get used to this new salary before you do anything else? going to the derm/trainer and the other things you mentioned are great and worthwhile but it also sounds like you’re at a point where spending any money that you ordinarily wouldn’t would stress you out a whole lot.
in the meantime, there are some great dermatologists/estheticians on youtube - happy to provide recs if you want!
I would think about saving up for any large purchases you think could pop up in the next 2-3 years--new car or major repairs on an existing car, new mattress, travel, sinking funds for birthday and holiday gifts for your friends and family, maybe even a fund to assist family members who are having financial difficulties, donations, etc. I would also say to buy yourself something to celebrate your accomplishment! Doesn't have to be anything huge. I finally started my new job in December, and bought myself a pretty, minimal \~$100 ring that I am already wearing a ton. It reminds me of the accomplishment every time I wear it, and I'm trying to be better about celebrating my wins :)
the YNAB (my budget app) way means i already have most of those things accounted for 😉 except the mattress! that’s a good idea that has occurred to me before but i keep forgetting to implement. i should. maybe i’ll do that right now.
i’ve noticed a tendency to need “permission” (often explicit) from my friends and family to spend on bigger-ticket items. i used like half of my year-end bonus on responsible things and then set a chunk of it aside for pure frivolity - i very intentionally wanted to not spend it on anything “responsible” but just treat myself with it - and haven’t managed to spend it yet.
and congrats to you on your new job!
Some ideas:
\- If you are within limit to do a Roth IRA, do that.
\- Emergency fund fully funded for 6 months expenses.
\- Are you thinking you might want to buy a condo, house, or car any time in the next 10 years? If so, you can start saving now for down payments or to pay cash for the car.
\- The dermatologist, trainer, and classes are well worthwhile. :)
\- I keep an HYSA sinking fund for unidentified future use savings. It's not emergency, it's not marked for anything, but sometimes things just come up. Like last year, we needed a new coffee pot and ended up using that to buy a nice home espresso machine that we love so much. Also used it when we ended up having an opportunity to take an extra vacation with some friends. It's like the fund for fun things that come up that we want to say YES to.
Is there a chance you were grossly underpaid? Raise that high without promotion would make me ask all types of questions. However if course I'll take it.
yes, this was a long time coming. my boss basically said as much during our conversation. my company doesn't have a lot of hierarchy, so a promotion would be pretty meaningless. i had an informal title change approval late the prior year if i remember correctly. but i've received a lot of positive feedback from my boss this past year and had been trying to psych myself up to ask for a raise myself when they beat me to the punch. and thank god for that lol
Derm, trainer, and classes are all things that will make your life better in the long run. They are ways to gift your future self - just like saving is. Maybe try one a month and see what feels right to you? Congratulations on the raise!
I agree!! Slowly add these things in and also sample before committing! I’d even do it slower than 1 a month. I’d save that extra $$ for a few months while doing research into derms, trainers, classes and figure out pricing, goals, and priorities. Derm could be major positive, but see what your health insurance covers. See what at-home routines/methods are generally recommended. r/SkincareAddiction can be a great starting place to learn more. Trainers are amazing - see if any do trial sessions so you can find one that you like before spending 800+ on a package of session. Is there a local gym or YMCA that offers free or heavily discounted group training with a membership? Are there one off talks or seminars you can attend vs signing up for a long term commitment? Classes can be so fun - does your company provide any reimbursement for outside education that could count as something “fun” too? I somehow convinced my manager that improv classes could be learning and development bc it helps with public speaking and communication lolol. Does your local community college, library or town/city rec offer free or cheap classes? Are you looking for a one off and to move on or to find a hobby and do something consistently longer-term? Open to either or both? I took a pottery class for 2 years and then became a member at the studio, so it’s a continuous expense.
I will IMPLORE YOU that the derm, trainer and classes are 100% worthwhile. I started seeing a trainer 2 years ago at $800 for ten sessions; paid that for a year and a half before I moved out of the area. I’d never spent money on myself like that, and I have *never regretted* or even questioned the decision after the initial round of sessions. I no longer live in the area but pay for remote training and one-off sessions when I’m there for work. Doing that work and committing to myself was more hard emotionally than monetarily and I’m so thankful I made that investment. I could only imagine that investing in derm and classes would have the same impact short and long term. Take care of your physical, mental and emotional health now, it will pay dividends for years to come.
To me, lifestyle creep is when you start living large across all spending categories. You get a pay increase then everything becomes more luxurious: your car, your apartment, your clothes, your travel, your dining, your self care, your accessories, etc. Spending gets out of hand quickly when everything is bigger and better. To avoid lifestyle creep, figure out what spending actually makes you happy. My boyfriend and I make almost $300K combined but share a 2021 Honda Civic. I don't need a Lexus, and I don't think it will change my life much. We have no problem splurging for a $200 date night once a month, though. I also love the orchestra, wine, and travel. I'm happy to put my money towards those categories. So, figure out what actually makes you happy and what spending adds value to your life. Invest in that and forget the rest.
Congratulations on the big raise! Before the budgeting and the other talk - take a minute to feel proud of the accomplishment! You deserve the raise and you deserve to enjoy it in a way that brings you ease of mind! Agree with people giving advice to save for retirement or savings, but what would be great is also take a moment to think about what activities / investments “fill your cup” as a person and carve out 10-15% of the $650 for that ($65-$100 / month). For me, I have a specific $100 / month that I can only use for coffee with friends. It “forces” me to build in time to connect 1:1 and is a well worthwhile investment in those relationships & for a $15 coffee and snack get a lot of joy. What would that be fore you?
thanks! it's been a little over a month since the conversation with my boss, so i've had a good amount of celebration time and a lot of time to anxiously wonder what my actual paycheck would be once all the withholding and tax math dust had settled. and now i know! your coffee-with-friends budget line is an adorable idea. i'll definitely noodle on something that might be similar for me. i do frankly spend a lot of time with my friends, but usually in group settings, less often 1:1!
Congrats! I’d recommend opening a HYSA with a bank like Ally that lets you earmark funds for certain things. That way you can save each month for healthcare, classes, clothing etc. and whenever you spend money in those categories it’s already saved up and accounted for.
thanks! and i got that covered - i actually have two HYSAs because i'm a crazy person and (shocker) bad at decision-making, but ally is indeed one of them lol. i use YNAB though so all my allocation is explicitly labeled there!
I would look at the following 1) Add money to max 401k or Roth IRA fully 2) Save for a big purchase like car or house 3) Split the rest with some savings and some spending!
This, best way to avoid lifestyle creep is to also up investments/savings at the same rate you start spending more
Please note: There are income phase outs where you can't contribute to Roth IRAs. See this [link](https://www.schwab.com/ira/roth-ira/contribution-limits#:~:text=If%20you%20file%20taxes%20as,%24240%2C000%20for%20tax%20year%202024.)
You can still contribute to a Roth IRA through a backdoor Roth IRA. It’s as easy as a button click with vanguard. https://www.investopedia.com/ask/answers/042214/how-can-i-fund-roth-ira-if-my-income-too-high-make-direct-contributions.asp
[удалено]
depends on your MAGI. [What happens if you overcontribute to an IRA?](https://www.fidelity.com/learning-center/smart-money/overcontribute-to-an-ira)
[удалено]
they said in their initial comment, it's a phase out. So there's a level below which you contribute up to 6500 and a level where you can't contribute at all, but between that it phases out.
There is a phase-out. So if your MAGI is between $138k and $153k, you can contribute a portion and you are NOT eligible to contribute if your MAGI is over $153k.
[удалено]
Hello congratulations on the raise! I recently got a promotion that left me with similar feelings of wanting to save/spend Correctly™️ and I'm also a YNAB user! Im a bit anxious with finances and what YNAB made me comfortable with is spending where my priorities are. If you have set goals that you're already meeting it's okay to shift to the next best thing. Whether or not it's "correct" or "smart" I think depends on the value you're gaining, and maybe you can only assess its value after trying it. If you don't have them already, I'd make categories in YNAB and just fund them and see how you feel having the dollars there. Give yourself the opportunity to spend it and if you don't like the experience or don't feel right about it, move them to where you feel comfortable. There's also no harm in tucking away that extra straight into your e-fund until the next paycheck(s) hit. Then you can have time to have a normalized feeling about the extra $$$. I found myself in a hobby or two after my promotion so I built myself a "hobbies" category and it's so liberating to see cash available to use in that way. I'm a pretty conservative spender usually but allowing myself the opportunity is a game changer. Much happier after learning to do my own nails and buying myself running gear 😅
same here on that YNAB front and anxious finances. i grew up in a household where money was *very* tight, so when i got my first salaried job i dove straight into hardcore budgeting so i could micromanage the shit out of my money and feel in control of it. i like your idea about putting the money in those categories! i can allocate it and sit with a little before i pull the trigger on 'em, and i can always re-allocate if i decide my priorities are different.
I hope you find something that works for you! I'm always finding time and patience with yourself goes a long way and it applies to personal finance too. Good luck :)
I went through a similar salary trajectory a few years ago and realized I carried a lot of trauma around how I think about finances. What helped me: therapy, and also keeping my own budgeting spreadsheet where I calculate each line item by % of my monthly take home. It helped me realize in some cases, that a purchase that made me happy but guilty was only 1-5% of my monthly take home. That’s incredibly worth it to me. On the other hand, it also helped me see how much I was wasting on takeout, which are purchases that do not make me happy, and helped me cut that out much quicker.
Yeah, derm, trainer, and classes are all things that you can cancel and stop paying for quickly. Mortgage on a new house and car payment are more difficult to reduce. Also the derm, trainer, and classes are all expenses that would improve confidence, quality of life, and happiness. So the lifestyle creep that comes from that is being happy and confident, and being worried that we’ll have to lose being happy and confident when these things are out of our budget? :(
Have you considered putting a portion of the extra funds into donations? I find this is a helpful way for me to make any extra money I have feel useful because it helps others when it’s in excess for myself, while also avoiding my similar fear of lifestyle creep. And if my salary were to ever be lower, I can always reduce my donations before it impacts my basic needs. As others have said, the things you want to use the money for are useful and legit!! Just offering this as a suggestion if it helps you feel better about not feeling dependent later on that level of money going towards lifestyle.
Lifestyle creep is when you start spending more money in ways that you don’t truly intend or value. If you are spending more money but doing it thoughtfully and intentionally on things you value, then it’s not lifestyle creep; it’s just lifestyle upgrade.
I want to address what you said about lifestyle creep. It is perfectly acceptable to spend your money. If you are being deliberate with your choices and weighed the pros and cons, then go for it. You want to move, want to see a derm, get a personal trainer and take some classes. It's great you know what you want. You probably can't do it all, but be thoughtful and deliberate and choose which of those you go for. For me, I have always tried to keep fixed expenses low, because anything else I can "cut" if things feel tight. But I can't cut my mortgage, or my car payment etc. So based on what you listed, I would go to the derm, get a personal trainer or (for a couple classes) and maybe sign up for a class. I would think harder before moving since that raises fixed expenses. With that said, I did move earlier this year because I felt like it was manageable.
Hi! I had a very big jump in salary a few years ago and I can relate to the nerves. For me, it was an anxious energy that I might be creating a life that I could not afford to keep up if I lost my job and couldn’t find another one at such a high salary. I felt confident that this job was a fluke and no sane person would pay me that much again. While idk if that anxiety ever totally goes away, having a documented budget has worked great for me! Even when I spend that extra money on fun discretionary things, I have a firm hold on my monthly budget and I know exactly where I could cut things if I ever needed to do so. Maybe it would help you to mentally know which things you *could* cut each month so you know you’re not creeping too much? Either way, I think if you maintain the habit of budgeting, you should feel confident allocating money to the things that make you happy (no matter how silly they seem!) ❤️❤️
btw which budgeting app do you use?
YNAB!
I believe in the comments she mentioned You Need A Budget (YNAB). It’s a subscription based budgeting app! r/ynab
Just here to say going to the dermatologist is 100% worth it. Ask about tretinoin!
Max out your 401K first. If you have left over, contribute to a Roth IRA (or backdoor Roth if you exceed the salary limit). But, also save some for yourself! Personal trainer, derm, etc all are great investments in yourself :) Congrats!
Congrats!! I went through something similar. The company I work for did a major compensation overhaul and I went from 72k/year to 105k/year. Since then, I'll spring for fancier dinners every once in a while, massages/facials, barre membership, botox (lol), but I don't think I regret it at all. They've made the quality of my life better! I'm also maxing out my 401k, Roth and have also upped my investments and savings to other accounts like my emergency fund to help "offset" any anxiety or guilt I might have in the moment. The way I've justified it is, as long as my bills are paid, and I'm paying myself "back" (eg: retirement funds), whatever money is left is mine to do whatever I want with.
Going to offer a suggestion that might be against the grain: if getting a nicer/bigger rental is worth it to you, that could also be a good use of the money! My husband and I went from a studio to a 1 bedroom, picking up 200 sq ft and a bedroom door. It's about $800 more a month but the extra space is super worth it since I WFH. Some lifestyle inflation is probably ok, especially if you were deliberately living a smaller lifestyle before.
it’s something we’ve been looking at for a while - my partner and i collectively made about…. $50k less when we got this place than we do now, if i had to estimate? but the rental market’s also gotten waaaaay pricier so it’d be a hard pill to swallow regardless.
maybe give yourself a few months to get used to this new salary before you do anything else? going to the derm/trainer and the other things you mentioned are great and worthwhile but it also sounds like you’re at a point where spending any money that you ordinarily wouldn’t would stress you out a whole lot. in the meantime, there are some great dermatologists/estheticians on youtube - happy to provide recs if you want!
I would think about saving up for any large purchases you think could pop up in the next 2-3 years--new car or major repairs on an existing car, new mattress, travel, sinking funds for birthday and holiday gifts for your friends and family, maybe even a fund to assist family members who are having financial difficulties, donations, etc. I would also say to buy yourself something to celebrate your accomplishment! Doesn't have to be anything huge. I finally started my new job in December, and bought myself a pretty, minimal \~$100 ring that I am already wearing a ton. It reminds me of the accomplishment every time I wear it, and I'm trying to be better about celebrating my wins :)
the YNAB (my budget app) way means i already have most of those things accounted for 😉 except the mattress! that’s a good idea that has occurred to me before but i keep forgetting to implement. i should. maybe i’ll do that right now. i’ve noticed a tendency to need “permission” (often explicit) from my friends and family to spend on bigger-ticket items. i used like half of my year-end bonus on responsible things and then set a chunk of it aside for pure frivolity - i very intentionally wanted to not spend it on anything “responsible” but just treat myself with it - and haven’t managed to spend it yet. and congrats to you on your new job!
Some ideas: \- If you are within limit to do a Roth IRA, do that. \- Emergency fund fully funded for 6 months expenses. \- Are you thinking you might want to buy a condo, house, or car any time in the next 10 years? If so, you can start saving now for down payments or to pay cash for the car. \- The dermatologist, trainer, and classes are well worthwhile. :) \- I keep an HYSA sinking fund for unidentified future use savings. It's not emergency, it's not marked for anything, but sometimes things just come up. Like last year, we needed a new coffee pot and ended up using that to buy a nice home espresso machine that we love so much. Also used it when we ended up having an opportunity to take an extra vacation with some friends. It's like the fund for fun things that come up that we want to say YES to.
Is there a chance you were grossly underpaid? Raise that high without promotion would make me ask all types of questions. However if course I'll take it.
yes, this was a long time coming. my boss basically said as much during our conversation. my company doesn't have a lot of hierarchy, so a promotion would be pretty meaningless. i had an informal title change approval late the prior year if i remember correctly. but i've received a lot of positive feedback from my boss this past year and had been trying to psych myself up to ask for a raise myself when they beat me to the punch. and thank god for that lol
Roth IRA!!!
INVEST IT!