Posts by jsangl
Marching To Debt Freedom – Couple #1 – Month 10
Introduction
Couple #1 is THROUGH with debt! They have been married for many years and have two children. They are now NINE months into their Debt Freedom March.
What went well this month?
Staying on schedule. I am glad we started this months ago. I would hate to be carrying that extra debt through these tough times.
What were the challenges/struggles this month?
Expenses are taking all the disposable income right now. Food and gas are unbelievable. We are determined not to create new debt. We are being very creative about saying no.
Updated Debt Freedom Date
Month By Month Progress
What has helped you stay on this Debt Freedom March?
The day that I can say I owe no money to anyone will be a benchmark in my life!
Sangl Says …
Next month, Couple #1 will clear $20,000 of debt paid off in the first 11 months of their Debt Freedom March! That is AWESOME! Also, it appears that the American Express card will be ditched completely! This stuff works!
Readers …
How is your own Debt Freedom March progressing?
In my book, I Was Broke. Now I'm Not., I share the story of my Debt Freedom March and teach the exact tools that Jenn and I used to become debt-free. You can do it too! You can read the book's introduction HERE.
HULU.com = Cheap Entertainment
About six months ago, AVCLUB introduced me to Hulu.com.
Hulu.com is a HUGE database of movies and TV shows (past and present) that you can watch for FREE!
You will have to watch a couple of commercials during the shows, but it is FREE!
If you have a high-speed internet connection, check it out!
I am sure that The Saving Freak is proud of me for this money saving tip!
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SERIES: Negotiate A Pay Raise – Part 5
I write a lot about how to eliminate expenses and reduce the OUTGO from one's home economy, but there is another side to the equation and that is INCOME. INCOME – OUTGO = EXACTLY ZERO works a lot better when the INCOME is increased!
This series is focused on one key way that INCOME can be increased and that is to Negotiate A Pay Raise. In each part, I will be sharing how I have successfully negotiated pay raises in the past. I hope this series helps you do the same!
Part 5 – "Negotiation"
Once I received a response from my manager, I took time to compare it to what I requested. If it was everything I asked for (it never was), I obviously would have accepted it. Since my offers were not exactly what I requested, I prepared for a negotiation.
As I entered the negotiation, I knew the following things:
- Which items were the most important to me, and which ones I was OK with leaving alone
- Exactly what I was willing to settle for
- The silent time was over – I was going to leave the meeting with an answer
Negotiations are tricky. Every one has been different for me. I have tried the compromise path. I have tried the "I'm sticking to my guns" and "I refuse to budget" path. The bottom line is that I knew exactly what was needed to call this a successful negotiation for me.
What I do know is that because I had done my homework, I was in a strong position to negotiate and that resulted in a successful pay raise each time. One of them was immediate and another took six months to be implemented. Both were worth it.
So this concludes the "Negotiate A Pay Raise" series on JosephSangl.com. If you are going to make the big ask, good luck and let me know how it goes!
Readers: I know that there are several business managers reading this site. Would you share your thoughts about this series from an employer's/manager's perspective?
SERIES: Negotiate A Pay Raise – Part 4
I write a lot about how to eliminate expenses and reduce the OUTGO from one's home economy, but there is another side to the equation and that is INCOME. INCOME – OUTGO = EXACTLY ZERO works a lot better when the INCOME is increased!
This series is focused on one key way that INCOME can be increased and that is to Negotiate A Pay Raise. In each part, I will be sharing how I have successfully negotiated pay raises in the past. I hope this series helps you do the same!
Part 4 – "Receive The Response"
There WILL be a response. It may not be the one you expected. It may be way more than you expected (it happens!), or it may be way less than you expected (this happens too!). Either way, there will be a response.
The best way to respond? SILENCE
This is a negotiation. SILENCE makes people uncomfortable. If a manager knows that their response is less than reasonable, silence will allow them to rethink their position. Many times, the manager has been provided some leeway in this discussion, and they have been authorized to adjust the numbers some to ensure an adequate and final response is obtained.
SILENCE has been my friend twice. Both times, it resulted in a substantial increase beyond the initial offer.
Once the offer has been extended and appropriate silence has occurred, thank them and tell them that you will need twenty-four hours to review the offer (if it makes sense).
This is Part 4 of a series featured at JosephSangl.com – "Negotiate A Pay Raise"
I share my journey to achieve financial freedom and teach personal finance tools in my book, I Was Broke. Now I'm Not. Check it out!
SERIES: Negotiate A Pay Raise – Part 3
I write a lot about how to eliminate expenses and reduce the OUTGO from one's home economy, but there is another side to the equation and that is INCOME. INCOME – OUTGO = EXACTLY ZERO works a lot better when the INCOME is increased!
This series is focused on one key way that INCOME can be increased and that is to Negotiate A Pay Raise. In each part, I will be sharing how I have successfully negotiated pay raises in the past. I hope this series helps you do the same!
Part 3 – "Make The Ask"
After you have "Done Your Homework", it is time to ask for the pay raise. Before I review that part, I want to share a couple of things to think about.
If you have ever ridden on a jet, chances are you have picked up the airline's magazine and seen the advertisement from Dr. Chester Karrass for negotiating seminars. There is a brilliant statement that stands out to me every time I see that ad.
His statement? You don't get what you deserve. You get what you negotiate.
Ponder on that thought for a minute.
It is important to understand that many things are negotiable including pay, benefits, time off, work location, and work hours.
As you prepare to ask for the raise, be sure to decide on what you will ask for.
Remember that this is a negotiation. Negotiating means that there will be give and take.
So now you have done all of your homework and decided what you are going to ask for. It is time to take a deep breath and have the conversation with your manager. Each time I have had this discussion, it has been a sidebar discussion and not a planned meeting.
Keep in mind the following items as you ask for the raise:
- Present your case clearly and succinctly. I presented my case in less than three minutes every time.
- Be CLEAR with your requests.
- Do not make threats such as "Give me this raise, or I am leaving to the competitor."
- You can make statements (if they are true) such as "This request is very competitive with the marketplace." A manager will quickly understand that you have done your homework.
- Your manager will probably not be able to give a raise immediately and will have to discuss with his/her superior. This will take a little time.
- After you have made your case, SHUT UP! You have said what you needed to say. Let there be silence. Silence is golden.
- When the meeting is ending, ask when you can expect to receive a response.
- Thank them for considering your request.
When the meeting is completed, take thirty minutes to write down everything that was discussed in the meeting. This will allow you to review what just happened and can be helpful later when trying to recall exactly what was talked about.
This is Part 3 of a series featured at JosephSangl.com – "Negotiate A Pay Raise"
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