Pay raises. They’re a good thing right? You’ve worked hard enough and smart enough in your chosen career to get some tangible recognition for a job well-done. Now you can see that recognition in your check at the end of every pay period. You’ve gained a little more job security. You’ve proved your worth to the company.
So all around good things right? Well, while pay raises are great and they certainly represent a career milestone that’s definitely worth celebrating, countless Americans suffer from pay craise every year.
Pay craise is that feeling you probably get right after you find out the good news. Just like the cartoons you watched as a kid, dollar signs pop up in your eyes as you start imagining what the pay raise could offer — a car, a bigger house, a trip, or even just a little more wiggle room at the end of the month!
Sound familiar? It’s the same story for many Americans. Some people call it lifestyle inflation, we like to call it Pay Craise.
While there are many different names for it, the definition is the same: adjusting your lifestyle as your income increases. Most people don’t live their entire lives on the same salary. You get experience, get a new job, or a promotion, all of which come with a better salary. Read more: buff.ly/2rncJk3