The 7 Worst Things You Can Do With a Pay Raise

You've landed a huge promotion and a raise -- congrats!

But before you ring up the champagne, let me provide a sober word of warning: Don't let this next rung on your career ladder be the beginning of the end of your financial health.

Sometimes, a raise can turn into a curse instead of a blessing. Here are seven common but ill-advised ideas for spending that extra money.

Paula Pant ditched her 9-to-5 job in 2008. She's traveled to 30 countries, owns six rental units and runs a business from her laptop. Her blog, Afford Anything, is a gathering spot for rebels who refuse to say, "I can't afford it." Visit Afford Anything to learn how to shatter limits and live life on your own terms.

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