We read in a lot of savings literature that paying yourself first is very important, you might wonder why it is important to pay yourself.
By paying yourself first you are making a commitment to long-term financial commitment, the money you paid yourself will help you when an emergency expense comes up.
Automatic savings is advised when it comes to paying yourself, because you won't have access to the money talk less of spending it.
When you set a goal of buying something important or paying fees, paying yourself helps you in fulfilling this type of goals.
If you feel like you are paying too much, you can cut it off by a percentage, this helps in easing the burden of saving.
Emergency expenses can come up anytime and if you don't have the personal savings you will be stranded, which can cause damage in health in time, paying yourself first will make sure you never fall into these type of problems.
Also you should not think about the short term when savings personally, because your mind can rationalize a lot of things that you can do with the money you saved already, have a long term goal in view like financial independence are starting a business.
By paying yourself first you are making a commitment to long-term financial commitment, the money you paid yourself will help you when an emergency expense comes up.
Automatic savings is advised when it comes to paying yourself, because you won't have access to the money talk less of spending it.
When you set a goal of buying something important or paying fees, paying yourself helps you in fulfilling this type of goals.
If you feel like you are paying too much, you can cut it off by a percentage, this helps in easing the burden of saving.
Emergency expenses can come up anytime and if you don't have the personal savings you will be stranded, which can cause damage in health in time, paying yourself first will make sure you never fall into these type of problems.
Also you should not think about the short term when savings personally, because your mind can rationalize a lot of things that you can do with the money you saved already, have a long term goal in view like financial independence are starting a business.