Your 3% Pay Raise in 2015 - Don’t Spend It All in One Place

NEW YORK (BankingMyWay) -- Workers feel like they're getting a raw deal from employers when it comes to the digits appearing on their paychecks.

The thing is, they have a point. Raises in 2015 paychecks are expected to barely keep pace with inflation.

Median household income is $54,045 as of July 2014 -- 2.9% below the median average of $55,6139 in June 2009, when the post-recession economic recovery supposedly kicked in, according to Sentier Research, as well as 4.6% lower than in December 2007 and 5.7% lower than in January 2000, when the median average was $57,340 per household.

With incomes falling, Americans could really use a boost from their employers to keep treading water financially and keep their financial assets ahead of inflation, which stands at 1.4% now and is expected by some economic experts to spike to 2% next year.

Continue Reading on MainStreet


If you liked this article you might like

How to Save 10's of Thousands of Dollars in 401(k) Fees

How to Save 10's of Thousands of Dollars in 401(k) Fees

Telematics Could Cut Your Car Insurance, but There Are Privacy Risks

Telematics Could Cut Your Car Insurance, but There Are Privacy Risks

Using Twitter to Trade Stocks

Using Twitter to Trade Stocks

Is Your Robo-Adviser Really a Robot?

Is Your Robo-Adviser Really a Robot?

My Stepmother Stole My Inheritance

My Stepmother Stole My Inheritance