Today on MyMoneyLife with Chuck Bentley

Have you gotten a raise this year?  The odds are you probably haven’t.  In fact, most people are happy to just have their jobs during this recession, let alone a raise.

Well, according to MarketWatch.com, the average raise in 2009 is below 3%, that’s the lowest since they started keeping records, back in 1976.

So, here are the results from a recent nationwide survey on what companies are doing with their payroll:

1. Almost half of U.S. companies froze salaries in 2009 to help save jobs.



2. Companies expect to increase payroll by an average of about 2.7% or less in 2010. Now, that’s a very low figure by historical standards.



3. As companies have shied away from salary increases, they’re relying on bonuses to retain valuable employees.  Performance based bonuses are actually up—accounting for about 12% of the payroll for salaried workers—that’s an increase from only 6% a decade ago.

So, the bottom line is that most companies will be holding back on salary increases next year, and that’s to be expected with a shrinking economy.

Now, rather than focusing on not receiving a raise, you’re better off doing whatever you can to increase your productivity on the job and letting your boss know you’re willing to shoulder a heavier load.

Remember to specifically pray about a raise because God is your true provider. Now, we have a new resource to encourage you.

Steps to Making a Budget

In making a budget, there are several steps, each requiring individual effort.
.

• Read More

Need for a Spending Plan

Without a spending plan, it is impossible to know where your money goes each month and whether you will have available funds for the things you need.

• Read More

Budget Busters

Budget busters are areas that can result in financial disaster if not accounted for properly.

• Read More

Finding Financial Freedom

The Lord owns everything and we are merely stewards of what is His. He has clear ideas on how He wants His people to function as His stewards.

• Read More

Other Resources:

• ABCs of Money Package
• Career Direct
• God's Principles for Operating a Business
• Business By the Book
• Crown Mvelopes