MoneyWise Live


How to Ask for a Raise

October 17, 2018

The economy is going gangbusters.  Unemployment is way down.  The number of open positions is way up. You’d think wages would go up fast, too but that’s not happening. Where’s that raise you’ve been expecting?  It turns out wages are a lagging economic indicator. Employers are understandably reluctant to lock in salary increases.  On this edition of MoneyWise Live, financial planner and teacher Rob West covers these topics on how to successfully negotiate a raise:

  • Most folks are terrified to ask for a raise.  Why is that?
  • What should you say when asking for a raise?
  • When do you talk to the boss?
  • Should you research what others in your area with similar jobs?
  • How about doing a dry run first with your spouse or a friend acting?

Next, Rob and Steve answer these questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org:

  • If you've made some bad financials decisions, have a pretty good income and want to provide for your wife and kids, how do you get things done in 2-3 years?
  • Everyone's heard of the FDIC but how does it work and how sufficiently is it really funded?
  • For a first-time home buyer, are there wise, biblically responsible options to allow for no minimum down-payment but higher ongoing monthly payments?
  • If you're getting ready to buy a house but have about $15,000 of debt for a car and student loan, after getting your emergency fund in place, should you pay off the debt first  before taking on the house purchase?
  • If your wife who is working as a part-time substitute teacher is 8 credits short of being qualified for Social Security, should she consider going back into a full-time position?
  • Since the Bible recommends on dividing your portion into 7 or 8, should you do this with money in a FDIC insured bank?
  • How do you go about setting the beneficiary for just a standard checking/savings account?

Be sure to check out our new website at MoneyWiseLive.org to connect with a MoneyWise Coach or access our books, videos, or any of our free helpful resources.  Thanks for your prayerful and financial support that helps keep MoneyWise Live on the air.  And if you'd like to help, just click the Donate tab at the top of the page.