Should You Ask for a Raise? How to Tell When It's Time

In today’s job market, employees are calling the shots, making it a great time to negotiate a higher salary. A financial planner explains how to figure out if you are being paid enough, overcome any apprehension about asking for more money and approach salary negotiations like a pro.

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When thinking about improving our financial health, most of us focus on our spending. We resolve to create a budget and stick to it, skip the daily latte at our favorite coffee spot, become a one-car family, cut cable or trade an exotic vacation for a staycation.

And it’s true: All of those actions can improve your financial health. But they only address one side of the financial health equation: spending. The other way to improve financial health is to increase your income (while keeping your spending in check, of course).

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Erin Wood, CFP®, CRPC®, FBSⓇ
Senior Vice President, Financial Planning, Carson Group

Erin Wood is the Senior Vice President of Financial Planning at Carson Group, where she develops strategies to help families achieve their financial goals. She holds Certified Financial Planner, Chartered Retirement Planning Counselor and Certified Financial Behavior Specialist designations.