Medicated Money

Thursday, April 20, 2006

Good News From Work

"A Sign in an office: This job is only a test, had it been an actual job, you would have received raises, bonuses and promotions!

Well, we received good news this week from work. As you may remember, both Mr. & Mrs. Medicated work for the same company, and therefore, many financial merits that are achieved by the both of us become available to us at the same time. We discovered that we would each be receiving a 3% pay raise over the next fiscal year as well as a cash merit reward that will be seen in our next paycheck. Overall, we are extremely please with our current employer and the annual increases in pay we are awarded.

We plan to use this extra money to help pay off our debt reduction and continue to save any additional money. One great advice we hear to do with raises is to increase one's 403(b) contribution, however, we are currently each contributingng the maximum allowed for our 403(b) accounts. If there is a negative from this (and trust me, there is not), but we will most likely will not be eligible for a Roth IRA in 2006 due to this pay increase.


Post a Comment

<< Home