To be successful at saving for retirement or saving in general, the key is paying yourself first. Now I know that sounds simple, but if you grasp this rule and make it your own, you will save like never before.
For many of us we work and our paychecks pay our bills first. Mortgage or rent, insurance, food, fuel, health insurance, you get the idea.
With this concept, you take 10%, if possible, and put that in a savings account, if you can’t do 10% do what you can, and be consistent.
If you don’t have your emergency money saved yet do that first. Automating is a great way to save. Find accounts where the money is taken out automatically.
I talked about the 52-week challenge where you start out with a dollar the first week of the year. The next week you save two dollars, and you continue until week 52, by the end of the year you will have saved $1,378.
Paying yourself first might be the most beneficial financial rule you can use for your financial future!
For many of us we work and our paychecks pay our bills first. Mortgage or rent, insurance, food, fuel, health insurance, you get the idea.
With this concept, you take 10%, if possible, and put that in a savings account, if you can’t do 10% do what you can, and be consistent.
If you don’t have your emergency money saved yet do that first. Automating is a great way to save. Find accounts where the money is taken out automatically.
I talked about the 52-week challenge where you start out with a dollar the first week of the year. The next week you save two dollars, and you continue until week 52, by the end of the year you will have saved $1,378.
Paying yourself first might be the most beneficial financial rule you can use for your financial future!
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