#46

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Pay Yourself First!!!

How I first heard of the concept

Allocate a percentage of your wages say 5% or 10% or more

Put your name on the bill column

Do it before the bills

Move to a separate account

Can be accessible or locked away in a pension

Direct debit or standing order

Automatic payments

The advantage of the earlier you start the better due to magic of compounding

Helps with budgeting, how little can I live on this month?

Automation creates momentum and momentum is key

Importance of taking care of yourself first

Always save before you spend, money left in your account if you're like me you'll find a way to spend it.

Be mindful if you owe high interest credit cards or other types consumer debt

Honourable mentions:

Julio De Laffitte

https://youtu.be/nSXpmjNP2Ug

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City Boys R Us

https://youtu.be/0cps1sWxvHs

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Book: The Richest Man in Babylon by George S Clason

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