There are very few of us here in Australia that when asked the question, ‘are you happy with the amount of salary that you are currently getting’ who will respond in a positive manner. We all feel that we are not paid what we are worth compared to the amount of effort that we put into our jobs every single day. It makes it more difficult to make our salaries go further and to last longer. We always have bills being pushed through the letterbox and many of us wish that they would just stop coming. However, we did commit to certain things and we did buy products that we felt we needed and so we need to do the responsible thing and pay up.
It can be difficult trying to figure out how to make our salaries more beneficial for not only ourselves but for our family members as well. This is where salary sacrifice comes into the fold because this is the perfect opportunity to pay your bills but also to enjoy certain tax breaks for example when it comes to paying for the items that provide you with the lifestyle that you currently live in. Every little bit helps as everyone keeps telling us and so this and the following are just some top tips to help you make your salary go a little further every month.
- Ask for a pay rise – Many people across Australia are terrified to approach their bosses and ask for more money even though a number of years have passed and no salary increase has been experienced. You should never be afraid to ask for such a thing if you feel that you really do deserve it and don’t try online gambling to get the extra cash. Employers actually look at you in a more positive way if you ask for more money or a promotion. You know what you’re worth, so make sure that you get it.
- Keep an eye on your spending – All of us have expenses that we need to pay out on every single month and so it’s important that you know exactly what your outgoings are compared to your incomings. Start looking for particular areas that you can save money on and there are a number of online tools that are available to help you to manage your spending better.
- Always be putting money away – Our parents and grandparents have always told us that we always need rainy day money and so put a certain amount of your salary away every single month and don’t touch it unless you really do have to. Start looking at lending institutions to see what kind of interest rates that they offer for savings accounts and other longer-term deposits.
It might be time to also consolidate all of your debts into one simple loan where you can negotiate a better interest rate and better terms and conditions. It pays to shop around when you’re making your many purchases.
