Giving Yourself a Raise

by Mary Ann Romans | More from this Blogger

06 Mar 2009 01:28 PM

If you have ever worked outside of the home, then you have probably looked forward with eager anticipation to your annual raise. You might have even worked a little harder in the days or weeks leading up to your annual review in order to make a good impression. Well, even if you work only in the home or would just like some extra money somewhere, you could give yourself a raise. After all, you've earned it.

To give yourself a raise just work a little harder to have more available income. There are several ways to do this, so you can choose what works for you. Giving yourself a raise differs from normal frugal living, because here the object is to make a big impact and free up some money for something fun or something you would really like to have, from a Disney vacation to new paint on the walls.

Here are some ideas for giving yourself a raise.

Quit smoking

Smoking is not only so bad for your health, but the amount of money that goes toward the habit can be staggering. Give yourself a $200 or more raise by quitting. Year-end bonus? You may be able to reduce your insurance rates for both health insurance and home insurance.

Downsize your home

Downsize by getting a smaller place or renting out some available space. You can give yourself a raise of anywhere from $200 a month to $1,000 or more, depending on what you have to rent or how much space you give up. Clear out the garage and rent that to someone who wants to store a car. Rent out a spare room. Rent out part of your property. Year-end bonus? You may be able to write off part of your mortgage and even utilities on your taxes.

What other ways can you think about that would give you a raise?

Mary Ann Romans writes about everything related to saving money in the Frugal Blog, creating a home in the Home Blog, caring for little ones in the Baby Blog and now relationships in the Marriage Blog. You can read more of her articles by clicking here or subscribe to the blog using the subscription box on the right.

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Learn more about Mary Ann Romans

Mary Ann Romans is a freelance writer, wife and mother of three children. She lives in Pennsylvania with her husband, the kids and a 16-pound cat.

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