Got a raise at work, how to invest it?!?

**Cecilia** · 10-12-2006, 02:47 AM

Yesterday my boss told me that I will get a raise

It meant that, all taxes payed, I will earn about 40 US dollas more per month. Now I'm thinking about how to use this money frugally. We have no debts besides house morgage, I already have money in an emergency fund, we save monthly for retirement and vacation (family abroad that we see every three years or so). Now I'm thinking about wheather I should open another savings account, put more into alreade existing savings, make a list of things we need to buy and buy them month by month... well I just don't know what is most frugal... We have been living with really small income for sooo many years. Please, any ideas are wellcome.

**FrugalMomof3** · 10-12-2006, 08:34 AM

I think you should put it into a high interest savings account such as ING, If you've lived for a while without that extra $40 then you can take that $40 each month and maybe more and put it into that account.

I would act as if I didn't see it or if it was a bill that needs to get paid each month.

I am sure the ladies here will have better advice for you since DH hasn't gotten a raise in a while.

**marie_squared** · 10-12-2006, 09:35 AM

i agree with FrugalMomof3.
im due for a 3% raise this coming check and im going to treat it as if i never saw it. since you already have a system set up that works for you though, and money is being filtered to various funds (emergency/vacation/ect) then maybe you should build up your stockpile. $40 a month could really add to the basics you probably already have like tp/soap/toothpaste

anyways.. CONGRATS on the raise!!

**Libby** · 10-12-2006, 08:35 PM

I'd prob slap it into another savings account as Frugal Mom of 3 said since you're so used to not seeing it. However if you've got debt paid off and money going to the right spots in savings etc then I say maybe splurge and have a great date nite - with your date or alone

and you can either travel somewhere not too far or just stay home and spoil yourself once a month. Not frugal I now but its still nice to be able to know you can have some fun and a treat w/o guilt!

**marei** · 10-13-2006, 09:16 AM

I would be interested to know what you need to buy and might go there with the extra money if they are things you really need. To me, deprivation is not the point of frugality.

**Cecilia** · 10-16-2006, 02:38 AM

Well, the things we need to buy is:
1. A drilling mashine for DH
2. Curtians for some romes in our house
3. New car seat for DD (but I think this one we will get anyway on my next pay)
4. Some winter shoes for DH
5. maybe some clothes for DH and me. Kids always get what they need, parents always has to wait...

**marei** · 10-16-2006, 01:24 PM

Go for it and buy the things you need - that is the way I would go. You seem to have a very good handle on your finances and things like winter shoes and car seats are not luxuries to me - I would consider them necessities. Curtains for some rooms would probably give you great pleasure and think it very important that we enjoy our homes, I never hesitate to buy what is needed since I spend a lot of time at home and want it to be as nice as I can make it.