Here are three of the week's top pieces of financial advice, gathered from around the web:
Making the case for a raise
"Corporate America has been slow to bump workers' pay, so you need a strategy to nudge your boss along," said Daniel Bortz at Money. The average raise is expected to be a paltry 3 percent next year, with many companies focusing on one-off bonuses and other temporary perks. To nab a better pay bump, "find ways to make your long-term value more visible." Use data and other hard evidence in your pitch, such as the value of sales you personally closed. If your work isn't measured in dollars, you can still find numbers to showcase your performance. Maybe you boosted traffic to the company website, or figured out how to make meetings more efficient. "The onus is on you to know your numbers and highlight the ones that are most compelling."
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What not to buy this holiday
There are plenty of holiday sales on right now, but it's worth holding off buying some big-ticket items until after Christmas, said Cameron Huddleston and Andrea Browne at Kiplinger. Try New Year's Eve for buying a new car, when dealers are scrambling to make room for new models and "in the mood to haggle." Furniture stores tend to hold clearance sales after Christmas with discounts of up to 50 percent on discontinued styles. January is a great month to look for steep discounts and clearance sales at big-name retailers on items like bedding, winter apparel, and holiday decorations. Take advantage of the off-season for travel, too. Cruise lines pile on discounts through March, before the spring break rush.
Protections for cohabitants
Whether marriage is in the cards or not, unmarried couples who live together should take steps to protect themselves financially, said Tracy Craig at Time. Living together confers couples almost no legal rights "when it comes to making medical, financial, or legal decisions on each other's behalf." So consider signing a cohabitation agreement, permitted by many states, which outlines each partner's financial responsibilities, including what happens to property in the event of a death or a breakup. A will can also guarantee your significant other will inherit any property. Without one, assets typically go to parents or siblings. Give your partner durable power of attorney for health care and he or she will be able to make medical decisions should you become incapacitated. A durable power of attorney can also grant your partner the right to make legal and financial decisions for you.
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The pros and cons of noncompete agreementsThe Explainer The FTC wants to ban companies from binding their employees with noncompete agreements. Who would this benefit, and who would it hurt?
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What experts are saying about the economy's surprise contractionThe Explainer The sharpest opinions on the debate from around the web
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The death of cities was greatly exaggeratedThe Explainer Why the pandemic predictions about urban flight were wrong
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The housing crisis is hereThe Explainer As the pandemic takes its toll, renters face eviction even as buyers are bidding higher
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How to be an ally to marginalized coworkersThe Explainer Show up for your colleagues by showing that you see them and their struggles
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What the stock market knowsThe Explainer Publicly traded companies are going to wallop small businesses
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Can the government save small businesses?The Explainer Many are fighting for a fair share of the coronavirus rescue package
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How the oil crash could turn into a much bigger economic shockThe Explainer This could be a huge problem for the entire economy
