What’s Your Worth

Many people believe they’re worth more money but are afraid to ask for a raise. Picture the scenario where you are conversing with your boss about how he or she should financially reward your strong efforts. Are you getting anxious just thinking about it? Well you shouldn’t! In order to climb up the ladder both professionally and financially you have to ask for a raise at some point. After all, many people are inclined to give you a raise after you ask for it.

Ask For A Raise

According to CareerBuilder, “56% of people have never asked for a raise”. It’s time to change the statistics. So, below you will find a few tips on how to approach your boss when asking for a raise with confidence and poise.

Analyze Your Performance

Before you set a meeting with your boss to ask for a raise, consider whether or not you actually deserve a pay increase. “Of course I do!” is what most of us say to ourselves. However, a pay raise demonstrates that you went above and beyond your regular job duties. Take time to self-reflect on your performance. Think of the last performance review you had with your boss. Have you been able to improve on those focused areas or re-define certain skills? If so, you have a solid ground.

Now that you believe you deserve a raise you can honestly convince your boss!

Take Time To Research

There is one more step that you should take before setting up a meeting with your boss. This step is to prepare for your meeting, which requires you to do research.

Don’t expect to have a meeting and just demand a raise. Instead you want to have a clear number for your raise. Typically, a standard pay raise lies anywhere from 1-5% of your current pay. Remember to have realistic demands to be taken seriously. If you’re unsure of how much to ask for use an online tool like PayScale to view what others in your career field are making. After analyzing how much pay you should receive, review your company.

It is crucial that you are asking for a pay raise at the right time. Currently, how is your company preforming? Is it doing well-where a raise would be realistic? Or is it going through a stressful time where layoffs are occurring? Timing is important so know what type of position your company is in before asking for a raise.

Schedule A Meeting

Once you have analyzed your performance and done your research and you still believe you deserve a raise, then it is time to schedule a meting! Having an in-person sit down meeting shows you are prepared and serious.

Simply send you boss a brief email that informs him or her that you would like to have a chat. Don’t worry it can be as simple as:

Hi [Boss’ Name], I was wondering if you are free anytime this week to schedule a sit down time to talk about my current position, performance, and future at [Company’s Name]. Let me know what day works best for you. Looking forward to our chat! Thanks, [Your Name]

Keep your email short and straight to the point to get your message across.

Confident Is Key

Your meeting day is finally here! During the meeting be sure to present yourself with confidence. This means maintaining eye contact and speaking in a clear, assertive tone. Try to steer away from fidgeting around. Remember to breath and collect your thoughts before you enter the meeting. You are more prepared then you think, so don’t stress out and go get what you deserve!

It takes courage to ask for a raise. However, if you assessed your performance and still think you deserve a raise then go ask for it! There is no harm in asking, the simple answer may be “no” but at least you tried. It may be tough to put yourself in a situation with an unknown outcome but you don’t want to wake up every morning not satisfied with your salary. Start by taking action today using the helpful tips above.

CFSC is a third-generation, family-owned check cashing company with 200+ locations nationwide. To find your nearest check cashing location or to learn more about our financial services, visit our website!

TAX Return? Five Proactive Things You Can Do With It

It’s that time of year again where taxpayers receive tax refunds from the government after diligently preparing their taxes. A tax refund depends on your filing status, income, deductions, and credits; therefore, leaving you with a varied spectrum amount you can earn back. You can easily estimate your tax return using an online tax calculator if you have not yet received your refund.

5 Proactive Things You Can Do With A Tax Refund

People often tend to spend a large chunk of their tax return, only to later question where it all went. That is why it is important to plan and budget your tax refund appropriately. Below you will find a few options on how you can wisely allocate your extra money.

Pay Off Student Loans

Student loans should be your top priority loan to pay off! Compared to all other loans, student loans will never be discharged even during bankruptcy. Not paying your student loans can lead to seized tax refunds and ruin your credit score. Putting a little extra money into paying off your student loans can go a long way.

Transfer A Portion Into Savings Account

To give yourself piece of mind put a portion into your savings account. This will be where emergency funds can be extracted if the unexpected occurs. Plan for the future and save yourself the stress by setting aside extra money. It’s always better to be prepared!

Set Aside Money For House Maintenance

Fixing your house is an ongoing process, but your largest investment! Why not fix your house with a little extra cash. There are plenty of ways you can help with the daily function of your home. You can fix plumbing, purchase new carpet, remodel the bathroom, and make small furniture purchases. In the end, your home investment will pay off in the future, so why not invest in it now?

Invest In Your Health

Don’t forget to take care of yourself! It’s important that you maintain a healthy lifestyle. A portion of your tax refund can give you the opportunity to join a gym or fitness class. Investing in your health can also refer to changing a health care plan, fixing your teeth, or purchasing super-food supplements.

Pamper Yourself

You deserve to give yourself a reward! After a long year of hard work treat yourself when the opportunity is given to you. A simple get-a-way trip with a partner, romantic dinner, family trip, or spa day will allow you to recharge. It is important to remember that a portion should be set-aside for you to indulge. Work-life balance is key. Without balance, it will be difficult to move forward and fulfill long-term goals.

It’s easy to become tempted to spend your tax refund when you have not thought about where you would like to allocate your money. Fight the impulse to spend on unnecessary items or services. Before you make a purchase ask yourself if this is a “need” or “want” and if this is beneficial for your future. If you answered no, you know what the right decision is. You’re now ready to wisely spend your tax refund!

Visit your nearest CFSC Location for Tax Direct Deposit services. CFSC is a third-generation, family-owned check cashing company with 200+ locations nationwide. To learn more about our financial services, feel free to visit our website!

Tips on How to Create a Successful Budget

Similar to a New Year’s resolution a successful budget can be either extremely easy or difficult to maintain. Some of you may believe setting aside a portion of your paycheck will suffice. However, there is more to this process. It takes a well thought out plan and self control to not fall off the bandwagon and finally achieve your goal.

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The best time to start saving is now! According to CNNMoney, 64% of Americans have less than $1,000 in their savings account and 34% have no savings at all. A successful budget requires a developed spending and saving plan. With the proper budgeting plan you can start to successfully save, pay off debt, pay monthly bills on time, and start making the most of your hard earned money.

Below you will find 5 tips to help you create a successful budget for 2017:

  1. Track Your Spending: To develop a budget, you first need to know how much you are spending. You can use a pen and paper or a smartphone app such as BillGuard, Dollarbird, or Goodbudget to help record your purchases- big or small.Tracking your expenses will allow you to understand how you are spending your money on housing, groceries, entertainment, miscellaneous, etc. Once you know how much each area is receiving you can then allocate your money appropriately.
  2. Determine Your Income: After tracking how much money you need financially each month its time to determine your actual income. In addition to your actual salary, you should include any extra funds you will receive this year. This can be cash gifts, items you sell, dividends, stocks, alimony, accumulated interest, and more.
  3. Automatic Saving Contributions: Direct deposit a portion of your paycheck into your savings account every month. If you set aside the money you do not see, then you won’t miss it. After a few months start increasing the percentage that you take away from your paycheck. You will start to see an increase in your savings account.
  4. Set Saving and Debt Payoff Goals: To determine if you are saving realistically and paying off debt, subtract your monthly expenses from your income. If you are making more money than you are spending and saving, then congratulations, you are budgeting wisely.For those who found that they are overspending, it’s okay- take the time to look over your expenses to know where cuts need to be made. It might take a few tries to create the perfect budget you need. It’s all about trial and error until you find one that works for you.
  5. Be Realistic: Set a goal that you know you can achieve month-to-month then aim to sticking within your budget. Breaking away from your budget occasionally is okay but not for too long!Now let’s see you try creating a successful budget for 2017! With the help of the 5 simple tips above, planning your budget is easier. Remember don’t jump into creating a budget before you investigate your spending and saving habits.

CFSC is a third-generation, family-owned check cashing company with 200+ locations nationwide. To learn more about our financial services, feel free to visit our website!

Choosing a Credit Card

Do you receive a ton of mail from credit card companies? With all the options out there it can get very overwhelming to choose the best credit card options that fit you.

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So when you are choosing a credit card, here are 5 important tips to consider:

  1. Interest Rates: A credit card provides an APR, which is the annual percentage rate. This rate can be either a fixed or a variable rate. The rates have the ability to change based on triggers such as paying bills on time, going over credit limit, credit score, etc.For those of you who carry a balance it is important to look into a low interest rate and low introductory rate. Since you are not paying the balance in full, a high interest rate over time can add to a larger total amount owed in the future.
  2. Financial Habits: How will you be using your credit card? Will it be strictly for emergencies or used to pay for everything?
    • If you’re using the card for emergencies look for options with low interest rates and low fees.
    • If you’re using the card to purchase most of your daily needs look for options that offer a high credit limit and a great rewards program.
  3. Credit Limit: This is the amount your credit card company is willing to let you borrow. The amount that you receive depends on your credit score. This can range from hundreds to thousands of dollars. After a few months to a year of showing consistency, your credit limit can increase.
  4. Fees and Penalties: These are a few ways credit card companies can gain benefits from you. Common fees for your credit card are from transactions. These may include balance transfer fees or cash advance fees.
    Penalties are no joke. Credit card companies will charge you if you go over your credit limit or have late bill payments. To avoid these charges be sure to pay your bills on time or set up an automatic pay to never be late again!
  5. Incentives: Many credit card companies offer reward programs to their customers as a perk for using their card. Look for a program that offers flexibility such as cash back or travel points that you can easily earn and redeem. Keep in mind to read the fine print of each reward program since there may be restrictions and reward expirations.

Now that you have gained the 5 most insightful tips you can confidently apply your knowledge to determine what type of credit card option will best fit you. Comparing your credit card options will allow you to see the differences between each credit card company in order for you to make your wisest decision.

CFSC is a third-generation, family-owned check cashing company with 200+ locations nationwide. To learn more about our financial services, feel free to visit our website!