| If you are an employee, you can get a 40%
| |
| | inflation had already destroyed the
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| pay raise without ever asking the boss.
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| | increase. To make matters worse, not only
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| And it's all tax-free. Similarly, if you
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| | do prices increase just before a pay
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| are an employer, you can show each of
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| | raise, but we usually turn around and
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| your employees how they can earn a 40%
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| | commit the raise to some new monthly
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| pay raise and it won't cost the employer
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| | payment purchase. "Oh yeah, now I can
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| a thing. Before writing me off as being a
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| | afford that new High Definition everyone
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| pair short of a full deck, read on.
| |
| | is talking about." When will we learn
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| The following information is based upon
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| | that more money does not necessarily
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| figures gathered in the late 90's from
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| | increase wealth?
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| U.S. Census Bureau, National Association
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| | Become "Un-vulnerable"
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| of Realtors, Chicago Title and Trust,
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| | I use to know a homeless fellow by the
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| Bankcard Holders of America, and Ram
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| | name of Pete. Pete use to be well off
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| Research. Though the figures will vary
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| | but fell onto bad times. Today, however,
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| today, the net affect is the same since
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| | he is considered local color because of
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| income has risen proportionately but debt
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| | his spectacular wardrobe- straight out of
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| load remains the same. 1. The average
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| | Daniel Boone, Jedediah Smith, or Snowshoe
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| household income = $3935 monthly or
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| | Thompson. Pete is so colorful, tourists
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| $47221 annual. 2. The monthly mortgage
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| | have their picture taken with him.
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| average (without tax and insurance) =
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| | But Pete lives on the street. Yet, he is
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| $662 3. Average car, credit cards, and
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| | less vulnerable than most of us. Why? His
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| loans = $568 4. Therefore, the average
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| | income versus output is more positive
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| total debt = $1230 5. Debt Load Average
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| | than for most of us. He doesn't owe
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| (% total debt to income = $1230 divided
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| | anything to anybody. No one can take
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| by $3935) = 31.3% Therefore the
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| | anything from him. He is completely
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| average family's present lifestyle could
| |
| | independent. He is financially
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| be maintained with 31.3% (or $1232) less
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| | "un-vulnerable"
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| per month without debt. Another way of
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| | You can be "un-vulnerable" also and you
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| looking at the same information is that
| |
| | don't have to become homeless. You
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| if the average family were debt free,
| |
| | simply need to give yourself a real pay
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| their current annual income ($47,221)
| |
| | raise... Get out of debt Wealth Has
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| would be comparable to a family income of
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| | Nothing To Do With How Much You Earn
|
| $71,428 annually with a 31.3% debt load.
| |
| | It's been said that the best way to help
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| But I said in the beginning "40%", didn't
| |
| | out the poor, is not to become one. I can
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| I? What was I thinking of? How could I
| |
| | relate to that! So, I am not suggesting
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| have made such an error? It's only a
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| | that we all become miniature Pete's as
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| 31.3% pay hike. By the way, since you
| |
| | suggested above. But we can learn a lot
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| gain this increase by paying off debt, is
| |
| | from him as well as an even more
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| this taxable? I don't think so!
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| | authoritative source- the bible. "...And
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| Therefore, we need to compensate for a
| |
| | the borrower is the lender's slave."
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| post-tax versus pre-tax pay raise.
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| | (Proverbs 22:7) When you owe someone,
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| You can conservatively add at least a 10%
| |
| | they own you. Now here is the point.
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| tax relief since this is a post-tax raise
| |
| | Wealth has nothing to do with how much
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| in pay. Our pay raise goal now easily
| |
| | money you earn. Wealth is rather that
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| exceeds 40%. Give yourself a real pay
| |
| | sense of being financially independent,
|
| raise... Get out of debt! (To learn more
| |
| | financially un-vulnerable. And unless you
|
| about getting out of debt, check out the
| |
| | are completely out of debt, you are a
|
| article Debt Destroyed By Magic Bullet)
| |
| | slave to whomever you owe money. On the
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| What's Wrong With a Traditional Pay
| |
| | other hand, if you are debt free
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| Raise?
| |
| | including your home, who can touch you?
|
| What's wrong with tax cuts and a pay
| |
| | You then have the option of investing the
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| raise? Not a thing as long as it leads to
| |
| | money you use to waste paying bills. You
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| increased wealth. Unfortunately, it
| |
| | can buy items cash and get the leverage
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| rarely does. It usually just leads to
| |
| | cash can bring to the bargaining table
|
| increased income. So, what's the
| |
| | and still remain out of debt. You even
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| difference?
| |
| | have the option of reducing the need to
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| Realizing that I am swimming upstream
| |
| | bring in a paycheck by living on less
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| while most others are swimming down, I
| |
| | with a simpler life or a life more to
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| cannot help but be disillusioned. When
| |
| | your choosing.
|
| was the last time a national pay hike or
| |
| | Give yourself a real pay raise. Get out
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| tax cut kept pace with the overall
| |
| | of debt.
|
| inflation and shrinking dollar? How come
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| | Athor Bio:
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| with all this extra money we keep coming
| |
| | Mike has been an Internet Guide/Writer in
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| up with, we are no better off then we
| |
| | the field of Credit/Debt Management for
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| were? Throughout my military career, I
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| | over 10 years. His site was awarded Best
|
| was always amazed that about 2-3 months
| |
| | Of Net by Forbes Publication from 2000
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| prior to a federal pay raise, local
| |
| | to 2005 with site visitation doubling to
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| prices near military bases went up. By
| |
| | over 500,000 average views per month in
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| the time the money actually arrived,
| |
| | the last year.
|
