5 ways to make the most of your Pay rise

I love working closely with my clients and it’s not all about the financials.  I love talking about their hopes, dreams and experiences which allows me to understand how they feel and their challenges.  I know what it feels like to be time poor, to be struggling with being successful and thinking about your family and your future.  I also know how easy it is to get distracted, blow your dollars and your opportunities by not putting yourself first.

At Evalesco, we help our clients understand that everything they do needs to be balanced.  So that means the next time you get a pay rise, bonus or tax refund you’ve got to take action at the time, not 5 years down the track, because it will never happen.

Follow these 5 tips on how to budget and save I’ve taken from more than 16 years as an adviser and over 7,500 meetings with clients.

Regardless of what you earn, the majority of us have little to no discretionary income, and it’s costing us.

Big time.

Take action before it’s too late!

  1. Have some fun – Take 20% of your net pay rise salary increase or bonus and treat yourself to a new dress, suit or something special for the house. You deserve it!
  2. Grow your super – Salary sacrifice 20% of your gross pay rise into superannuation.  This is a very tax-effective strategy and is super easy to manage (p a r d o n t h e  p u n ) .
  3. Pay off debts – Save thousands of dollars in interest payments by putting 20% of your net pay rise increase into your home loan or credit card until this debt is repaid.
  4. Save for a rainy day – Bring back your mojo by putting 20% of your net pay rise into a high-interest savings account and get your “rainy day” fund going.
  5. Be an investor – Start an Investment plan. Direct 20% of your net pay rise to a low cost, diversified growth portfolio.


As a little bonus – Keep it simple – Your plan for financial success should be simple, utilise sound principles with proven outcomes. It should make good use of your cash flow, be tax effective, utilise your super and not be overly reliant on your day-to-day involvement.

Follow these simple tips the next time you get a pay rise or start right now and you will fast track your future financial goals and dreams. If you would like more help, contact the team at Evalesco and we can tailor your financial strategy to suit your own needs.

It’s my job to work as my client’s financial ‘lifesaver’ to ensure that they swim between the flags and that they don’t get in over their heads.