6 Smart things to do with that increase
A raise is always welcome news! Whether it’s a raise or an increase in benefits, you can’t beat the feeling of having more money at your disposal. But before you spend the extra money on unnecessary items, you might want to consider some smart things you can do with it.
Of course, how you use the extra money depends on how much the increase is. If it’s a small raise, you might consider it extra spending money. However, if it’s a larger increase, there are many ways you can make the most of it.
This article presents six smart things you can do with this increase. Whether you want to pay down debt or invest in your future, these ideas will help you get the most out of your raise.
So without further delay, let’s jump right in and discover what smart things you can do with this raise!
Reduce debt with a raise: 6 smart things to do
Increasing your income can be an opportunity to reduce debt. Of course, there are many ways to spend the extra money, but it’s important to make a sensible decision and set priorities.
First, it pays to list all debts and pay off those with the highest interest first. One way to do this is to use a debt repayment plan. It means paying off the highest interest debt first to minimize interest payments. Once this is done, you can focus on your next debt.
- Another wise move would be to increase your monthly payment. Paying more than the minimum payment accelerates debt repayment and saves interest.
- Another option would be to restructure debts. In this process, debts with higher interest rates are replaced by loans with lower interest rates. Restructuring like this can help lower monthly payments and pay down debt faster.
- If you have multiple debts, it can also make sense to consolidate them into one payment. Consolidation can help lower monthly payments and pay down debt faster.
In addition to these options, there are other ways to reduce debt faster. One of them would be to create a budget and eliminate unnecessary expenses. If you can save money, you can invest more in paying off debt. Another option would be to seek additional sources of income to pay off debts faster.
Overall, there are many ways to reduce debt. With the increase in income, these options may be easier to implement. It’s just important to make a sound decision and stay focused on your goals.
Increase? Invest wisely
Whether it’s a raise, insurance money, or an inheritance, an unexpected cash injection is always welcome. But what to do with the extra money? Here are six smart things you can do with your raise.
- Education: Invest in your future through continuing education or consulting. Better skills can help you earn higher incomes or discover new career opportunities.
- Save: Create a financial cushion for emergencies or future investments. You can also create a savings account for specific goals, such as a house, car or retirement.
- Shares and funds: invest your extra money in shares or funds. Diversify your portfolio to minimize risk and take advantage of stock market returns.
- Real estate: invest in property to generate rental income or higher resale values. However, carefully consider the risks and returns before making an investment decision.
- Debt reduction: use your raise to pay off debt, especially loans with high interest rates. This can help you reduce interest payments and improve your credit score.
- Charity: Donate a portion of your raise to charity to support your community and do good. However, always check out the organizations before you donate to make sure they are trustworthy and will use your donations effectively.
An unexpected financial injection can provide you with many options. Use them wisely to meet your financial goals and secure your future.
Give a time out
1. Plan a trip
There is nothing better than taking a break from everyday life and exploring the world. With the increase, you can now plan a trip you’ve always wanted to take. Whether you prefer to relax on the beach or explore a city, there are countless ways to make your time away memorable.
2. Take care of your health
With more financial freedom, you can also take care of your health. Why not take out a gym membership or attend a yoga class? Invest in your well-being and commit to a healthier lifestyle.
3. Learn something new
Why not learn new skills or find a new hobby? With the increase you have the opportunity to take a course or further education. Take advantage of the opportunity to achieve your personal and professional goals.
4. Donate to a charitable organization
Not everyone is fortunate enough to be as financially secure as you are. Use your raise to help others. Donate to a charity or do some volunteer work. Small acts can make a big difference in the lives of others.
5. Create financial stability
Use the increase to improve your financial stability. Pay down debt or invest in a retirement plan. By having a solid financial base, you can sleep more peacefully and live a more stress-free life.
6. Spoil yourself
Treat yourself to some luxury. Buy something you’ve been saving for or treat yourself to a day at the spa. You’ve worked hard and deserve to treat yourself once in a while.
Buying the car of your dreams: 6 smart things to do with that raise
There is hardly anyone who doesn’t dream of buying their dream car one day. But what many don’t consider is that this is more than just an investment in a fast car. With a wisely planned car purchase, much more can be achieved than just owning a vehicle.
1. Create independence – By buying your own car, you gain independence and mobility. No more long waits at the bus stop or expensive cab rides. The dream car can be used independently of public transportation.
2. Seize career opportunities – A fancy car can also open up career opportunities. At business meetings or customer visits, you’ll make a good impression with your dream car and exude competence and success.
3. Build up reserves – Instead of investing your money only in buying a car, you can also put some of it in reserves. Here’s how to be prepared for unexpected expenses.
4. Save and invest – Using a higher amount can also be used to invest in stocks or funds. Here’s how to grow the money and make more investments in the long run.
5. Reduce debt – Why not use the higher amount to reduce debt as well? It’s a quicker way to get out of debt and have more financial flexibility.
6. The dream of further investments – Buying the car of your dreams should not cloud your view of further investments. Use the car as an investment in the future and see it as an opportunity to fulfill more dreams soon.

- Use buying your dream car as an opportunity for independence and mobility.
- Profit professionally from buying a fancy car.
- Set aside some of the money as a reserve and be prepared for unexpected expenses.
- Invest some of the money in stocks or mutual funds.
- Reduce debt and create more financial freedom by buying the car of your dreams.
- Don’t let buying your dream car block your view of other investments.
A dream car is more than just a fast car. A sensibly planned car purchase can achieve a lot more than owning a mobile vehicle.

6 smart things you can do with a property
When you purchase a property, you’ve made an important investment. Now you need to think carefully about what you want to do with it. Real estate can be used for a variety of purposes and there are many smart things you can do with it.
One option is to rent out your property to generate passive income. Use rental income to cover your monthly expenses or put the money toward other investments.
Another smart thing you can do is use the property as a vacation home or Airbnb. Not only can you earn extra income this way, but you can also travel to new places and learn about other cultures.
If you occupy the property yourself, you can also find ways to monetize it. For example, you can rent out part of the house as an office or workspace, or offer a room on Airbnb.
- Use the property as a retirement plan
- Renovate and improve to increase value
- Sell to make a profit
Another smart move is to use the property as part of your retirement plan. You can rent out the property until you retire and then live in it yourself to reduce your living expenses.
If the property is in need of renovation, investing in improving the property can not only increase value, but also appeal to potential tenants or buyers. If you eventually want to sell the property, this renovation can add to the return on investment.