January 30, 2014
Paying yourself first is one of the most important habits you can develop in reaching for financial freedom. Why? How?
Paying yourself first is one of the most important habits you can develop in reaching for financial freedom. Why? How?
Paying yourself first is when you set aside part of your pay to savings, it develops a savings habit that will benefit you in the futures, and you will have a decent savings then.
Right again, Garrett. Let’s review.
When you save first and spend last, you are paying yourself first. This is a critically important step toward achieving financial freedom. Set your savings up on automatic pilot by having the money come out of your paycheck or your bank as soon as you are paid. Save/invest that money into your emergency fund/Roth IRA/Company Retirement plan like a 401k, 403b, 457, or a TSP. Your future self will thank you!