7 Financial Steps to Take Before the End of the Year

Six Financial Steps to Take Before the End of the YearLadies, what end-of-year financial steps do you plan to take in the next few months? Besides making sure to buy a new planner (if you’re a paper-planner person, that is) and finish your holiday shopping, another thing to do before the end of the year is to take time to focus on your financial situation. Besides quick things like reviewing your W-4 deductions to decide if they’re still appropriate and checking that your employer has your current address on file so that you’ll definitely receive your W-2, taking these seven year-end career and financial steps will build a good foundation for the months to come:

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How to Ask For a Raise

Money on the Table, originally uploaded to Flickr by tuchodi.How DO you ask for a raise?  Reader K asks this classic question…

I am looking for tips on how to successfully ask for a raise! I have a unique situation – I was promoted just under 1 year ago, and got a significant raise in my salary. However – I actually took a pay cut, since I went from base salary + commission. The powers that be don’t view commission as part of your salary, so I essentially took a 20k pay cut if you look at my W2’s, but on paper I earned a significant raise. Now, looking online at salary ranges for my position and the company’s pay grade chart, a 15% raise would put me smack dab in the middle of nationwide salaries in positions like mine, and my company’s pay grade chart. Asking for a 15% raise seems ballsy to me, especially in this economy, but I have received a LOT of praise this year, including from the CEO directly. I feel I have earned it. Suggestion or tips on how to go about this? I actually have never asked for a raise before! Thank you!

Congratulations on your great year, and the bump (on paper, at least) in salary.  A lot has been written about how women don’t negotiate raises the same way men do — we hesitate to do it, we ask for too little, we don’t do it often enough (to say nothing of employers who have a bias against women). (Pictured.) [Read more…]

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