I’m so excited I have to share this!!

[Positivenancy]

I received the news yesterday that I was successful in getting a promotion in work. I’m so excited and relieved I could cry! It’s over 10k payrise, I’m still in shock. Can’t share it with others in real life yet. It works out at about an extra 550 a month! I’m going to save most of it to be honest but it’s just so exciting. Just had to share. If I save 450, and use 100 towards monthly expenses then that will be a huge help. Unless anyone has better suggestions, I know everyone will think differently as it’s financial position dependent.

Well done you!

Many years ago someone advised me to save half of any pay rise. I was able to do that and it's been very worthwhile. So I think you've got a great plan. I might be tempted to allocate say £50 per month to treats, but that's just me.

Thank you, I would love to save it all to be honest but I don’t want to be unrealistic with myself. I’m a single parent so I need to have more available. I’m doing ok at the moment but I’d like to relax a bit more. This is my first stepping stone up from my graduate position…I’m determined and I am aiming high! I’m just so excited and proud of myself so far.

Congratulations and well done you! 🙂

If you can, open a couple of savings pots in your banking app.

Put 350 in the long term savings account, and the extra 100 in a short term savings account. Use short term for unexpected expenses, christmas, or back up for bills. It'll relieve some strain and you still put a great amount away into proper savings each month.

Congratulations!

Well done !!! 👍

Well done!

That is very well done, and great to think of saving some of it. Do think about increasing the amount you pay into your pension with every pay rise you get, and do it before you get used to the extra money. I get that you need some ready cash savings but even an extra 1-2% can make a huge difference over many years - and it will be taken off before tax so not as expensive as you think.

Onwards and upwards! 😊

That's a lovely thing to share. Congratulations!

Thank you all ❤️

Congratulations!
That’s really good news, well done, you must be so proud!

Congratulations!

Well done!

Well done 👍 I understand that you want to save but don't forget to get yourself a treat now and then , you've earned it

Many congratulations, OP, you sound thrilled and rightly so. I hope this job is everything you want.

Definitely a good time to review your pension contributions.

Woohoo!! 🙌🏻 congrats OP.

I’d save the entire 550 for the first 3 or 4 months to build up a nice pot (minus a treat/takeaway of course!!). Then after a few paychecks I’d divvy it up a little more.

Love this!!

Well done OP! Good luck with it all!

It absolutely is, It’s a great stepping stone for where I want to be and means I’m hitting my first goal of earning over 50k by age 40 (I had a career change) and I’m going to keep going! 🙌 thank you so much

Congratulations. Save £350 on pay day then anything that is left at the end of the month can be put into a savings account for your child x

Love this - well done op!!

So so pleased for you - congratulations!

If your pension contributions are on a percentage basis that means you and your employer will be paying a bit more in so that's great

I would do a standing order to a high interest savings account for £3-400 month, £100 in easy access savings and treat yourself a bit
Maybe £50 month in child's regular saver - some quite good interest rates

Do you rent or have a mortgage?

@jackstini yes it is % based which is great, the benefits are only open to change once a year but they might open them in the case of a job change, I will definitely ask and see if I can increase them a tiny bit myself.

I rent…I’m saving to buy again (currently divorcing) so it’s been a long road but nearly there.

Well done!

You'll never regret saving as much as possible.