I like the old adage:
Pay yourself first.
J.D. Roth, over at Get Rich Slowly, has a great post on the subject of paying yourself first. Whether it’s for retirement or rainy day savings (or both), you should get into the habit of treating “paying yourself” the same way you do other bills.
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Sometimes when it comes to yielding wealth, you think you’ve heard something a million times. But, with such things, it is often the case because it bears repeating. Saving money is one of those things.
“Pay yourself first”
This is a concept that few people really grasp. But it is still true nevertheless. It is very important that you pay yourself first. Before you spend your money on other things, you need to set it aside for later. Try and arrange your budget so that you are living only on 70% to 80% of your income. If your company offers the option, …read more