Monday, May 20, 2013

How do you spend your money?

When you receive money what is the first thing you do?

       The  average person spends money and tries to save what is left at the end of the month. The problem is when the end of the money comes there is usually no money left or little money left at the end of the month.

What did I decide to do?

        I pay myself first  before spending money on rent, bills, food, entertainment. Paying yourself first means you are making yourself most important in your life. This allowed me to build an emergency fund and start saving and investing. This has definitely made it easier to sleep at night. After paying myself first, I try to live off what is left for the month.
        A couple of books that talk about the pay yourself first concept is The Richest Man in Babylon and The Wealthy Barber.

     I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice.  Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk


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