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Money matters: How to squeeze the most out of your raise

Experts recommend the bucket approach for dealing with newfound income
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Seeking out advice or guidance or even just starting a conversation with yourself is a good way to start a financial plan. A server clears a table on a patio at a restaurant, in Vancouver, on Friday, April 2, 2021. THE CANADIAN PRESS/Darryl Dyck

Finally some good news — you’ve landed a major promotion with a huge pay bump, or you’ve finished many years of education and entered a high-paying profession.

Either way, you have some extra cash, and perhaps little else, aside from a student loan.

The act of seeking out advice — or even just starting the conversation with yourself — is worthy of praise, says Brian Himmelman, president and financial planner at Himmelman & Associates Financial Advisors in Halifax.

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