Getting a raise at work and how you should work it into your family budget

Good news. I recently got a raise at work. It works out to be about an extra $1.83 an hour. Making me earn an extra $200 dollars a month after taxes. So the next question becomes how do we handle this raise as a family? How much should we distribute to various areas our family budget including lifestyle, savings, debt and monthly family budget. We have concluded that best way is to split the extra income four ways, which means contributing an extra $50 to each division of household family budget per month. $50 dollars would go towards lifestyle, savings, debt and monthly family budget. You will notice this change when I break down our family budget at the end of the month. One thing I have yet to do is to catalogue our debt and show how we plan to pay our debt but I will be doing that in the future. Our plan is to continue to enjoy our lives in Vancouver and live a healthy and happy life.

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