Cooking The Books

Each week the New Zealand Herald and Newstalk ZB's Cooking The Books podcast tackles a different money problem. Today, it's why a pay rise isn't enough to solve money problems. Hosted by Frances Cook.If you're hoping a pay rise will fix all your money problems, I have bad news for you. It won't.Sorry to start on such a harsh note, but it's true. People on modest incomes can often find ways to look after themselves, including putting money away for retirement.Meanwhile people earning ridiculous amounts can still go broke, quite easily.How else do you think that even wildly successful singers and actors often become publicly and embarrassingly bankrupt?Now I'm the first to back you up if you want to go for a raise. But people often use that as an excuse to do nothing else, throwing their hands up and claiming there's nothing more they can do.But there's a major difference between income and wealth, and you can start becoming wealthier right now. You just need to change some of the ways you handle your money.Luc