Sunday, December 2, 2012

Pay Yourself First

Do you pay yourself first or do you pay your bills first and then try to save from what is leftover?

Unfortunately, most of us do and this is NOT the way to build wealth or prepare for that rainy day.

Frankly, if you don't pay yourself first then why are you going to work everyday?

Please don't say to pay your bills. Paying your bills cannot be the only reason you
go to work.

It doesn't take a lot of money to do this but do this you must in order to have control over your finances and to build wealth.

Start small if you have to. Most people say to pay yourself ten percent, David Bach says women should pay themselves 12%. I have started paying myself 20% of every piece of money that I get. But I must confess it has not always been like this. I was petrified to pay myself anything at all. I used to feel that pain in the pit of my stomach when I first started to pay myself. I decided to keep doing it because I knew it would be better for me so I continued to do it and now it is so empowering to know that I have money when I need it. You have to create the habit of paying yourself first.

If it feels funny at first, that's ok push through that feeling and keep doing it. It won't be long before you will look forward to paying yourself.

Remember, you and your family are a living corporation known as a family and you have to pay your corporation family.

Do it! You won't be sorry.

To Your Wealth!

1 comment:

  1. I completely agree with this as a tenet for personal finance.