Give Yourself Your Own Damn Raise!

A couple of weeks ago I was talking to a colleague, who is a moderate smoker, about how we spend money. He said: "If I could just quit smoking, it would be like having a 60-euro raise each month." Now, to Americans that may not seem like a lot of money, but here in Italy, raises are pretty hard to come by (the negative trade-off to having the security of such things as lifetime contracts, I suppose). It is still 720 euros more in your pocket per year.

It got me to thinking about the concept of giving yourself a raise. Why wait for your boss to notice you? Do it yourself. Better yet, reduce your expenses so much that after a few years you won't even have to work that much to cover them! Now that is empowerment, people!

If you're not sure how you can give yourself a raise, I have listed some of the items that we DON'T spend money on at my house. The shock is how much it adds up to! It made me think about how easy it is for my friends who make much more money than I do to live from paycheck to paycheck even though they are high earners.

Note: the Give Yourself A Raise concept is not for everyone.

Especially if you say to yourself, "I work so hard, I DESERVE to spend money on __________" or "Saving money is cool, but I want to have a LIFE..."

Rather, a compatible mindset would say "I work so hard, it's a pity to throw money away on ________  when what I really want to do is _____________."

Pick and choose what works for you. Here are some of the expenses that my friends and colleagues spend money on that I choose not to.

1. A second car.
Gas alone: 150

2. Apperitivi with friends during the week.
Savings: 80

3. Coffee and brioche at the bar (weekday breakfast).
Savings: 80

4. Lunch out or in the mensa.
Savings: 240

5. Yoga at the gym.
Savings: 40

6. Newspaper/magazines.
Savings: 40

7. Cigarettes.
Savings: 100

8. Massages.
Savings: 100

9. Meat.
Savings: 100

10. Manicures
Savings: 100

11. Estetista (hair removal, I believe-- these places are a mystery to me)
Savings: 100

12. Hairdresser (I may go once a year, otherwise I cut my own):
Savings: 100

13. Cable tv
Savings: 45

Total Savings: 1175

There are probably other things you may be spending your money on, too. If they are important to you, keep them. If not, simplify and live richer. It's the Triestine way.