National Debt Relief Talks About Effects Of Salary Increase
November 26, 2015 (PRLEAP.COM) Business NewsNovember 26, 2015 - National Debt Relief shared in an article published November 1, 2015 some of the realities when consumers receive a pay increase. The article titled "The Real Effect Of A Salary Increase On Your Life" takes a look at how people normally react to a bigger salary at the end of the month.
The article starts off by pointing out a story that best represents the positive effect of a salary increase in the persona of Dan Pierce. The article shares that he is the CEO of Gravity Payments who took it upon himself to cut down his salary from $1.1 million to $70,000 a year to give his employees an increase.
The result was phenomenal as the article shares that company's productivity jumped to as high as 40%. But this is on a company's point of view and consumers would react differently to a pay increase. The article shares that the most obvious effect is that more money will come in which means a bigger fund for the budget.
The article mentions that this usually means a bigger contribution to financial plans and obligations. A higher payment for their card or house payment or even more money into their retirement fund. This also allows consumers to spend more for their wants. This can mean clothes and other items they did not have the chance to buy in the past.
This is where it becomes complicated as the article shares how this can lead to an increase in lifestyle if left unchecked. More money can lead to indiscriminate spending and put the consumer further in debt.To read the full article, click this link: https://www.nationaldebtrelief.com/the-real-effect-of-a-salary-increase-on-your-life/