Saving Your Raises

I recently got my annual raise and have been putting it into savings. If I don't use it, it's like I never got it. A friend of mine read somewhere (not sure where) that a person has been living on the same salary for 10 years by doing this. So yes, it can be done!

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By Donna from Northlake, TX

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January 14, 20100 found this helpful

So do you save the before tax amount or the after tax amount?

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January 16, 20100 found this helpful

Obviously this person has never lived in South Africa, because when you get an increase here, income tax, pension and medical aid deductions go up and at the end of the day you take home less than you were before the increase. I double dare you to live and survive in this country, then you can tell me "it can be done"

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