Save Money Pay Yourself First

Pay Yourself First,

Resolve today that you are going to save and invest at least 10{8a3c3730f33aae45dd8c509fdedb4d7d5c2fce5c4a26ece60b833c3f27bc0853} of your income throughout your working life. Take 10{8a3c3730f33aae45dd8c509fdedb4d7d5c2fce5c4a26ece60b833c3f27bc0853} of your income off the top of your paycheck each time you receive one, pay yourself first and put it into a special account for financial accumulation. The fact is that if you save just $100 per month throughout your working lifetime and you invest that money in an average mutual fund, that grows at eight to ten percent per-annum, you will be worth more than 1million dollars by the time you retire. David Bach wrote a book  it said that, if you simply spend one latte less five dollars a day “the latte factor” and save that money twenty-five dollars a week you’ll save $100 a month and you’ll become financially independent. He’s been on half the television shows in America explaining, that by saving a few dollars each day and by saving it you can achieve all your financial goals. What this means is that anyone even a person earning minimum wage, if he or she starts early enough and saves long enough they can become a millionaire over the course of his or her working lifetime. That includes developing the lifelong habit of saving and investing your money, its not easy it requires tremendous determination and will power. You have to set it as a goal you have to write it out you have to make a plan you have to work on it all the time, but once this practice locks in and becomes automatic your financial success is virtually guaranteed. The key for you is to practice frugality, frugality and frugality. In all things be very careful with every penny especially at the beginning of your working life.Groupon

Question every expenditure delay or defer important buying decisions for at least a week if not a month. The longer you put off making a buying decision the better your decision will be and the better price you will get at that time. A major reason why people retire poor is because of impulsive buying. They see something they like and buy it with very little thought, they become victims of what is called Parkinson’s law which says that expenses rise to meet income. This means that no matter how much you earn you tend to spend that much and a little bit more. Besides as a result you’ll never get ahead and you’ll never get out of debt.

Your job is to break Parkinson’s law you don’t have to be a victim of Parkinson’s law but if you can save a percent of your income start today by saving one percent of your income in a special savings and investment account. Put it away at the beginning of each month even before you begin paying down your debts learn to live on the other 99 percent of your income.

As you become comfortable living on 99 percent raise your savings goals to two percent and live on 98 percent then 3{8a3c3730f33aae45dd8c509fdedb4d7d5c2fce5c4a26ece60b833c3f27bc0853} and 4{8a3c3730f33aae45dd8c509fdedb4d7d5c2fce5c4a26ece60b833c3f27bc0853} , wow within one year you’ll be saving 10{8a3c3730f33aae45dd8c509fdedb4d7d5c2fce5c4a26ece60b833c3f27bc0853} and maybe even 15 or 20 percent of your income living comfortably off the balance. At the same time that your savings and investment account start to grow, you’ll become more careful about your expenditures and in the miraculous way your debts will begin to be paid off one after the other. Within a year of saving 1{8a3c3730f33aae45dd8c509fdedb4d7d5c2fce5c4a26ece60b833c3f27bc0853} a month, your entire financial life will be under your control and you will be on your way to becoming a self-made millionaire.

Now this process has worked for everyone including tens of millions of people who read and applied the idea from Richest Man In Babylon, try it for yourself open a special account for financial accumulation today and make a deposit in the account. Even five or ten dollars no matter how small this starts to setup force field energy that will attract more money. Look for every opportunity to add to this account, begin to study money so that you understand how to make it grow! Read books and magazines by experts on the subject of money never stop saving and learning and growing until you become financially independent. I hope you enjoyed reading this please subscribe and comment at the bottom .