Do You Pay Yourself First?
After getting a salary or making an income, you have to pay bills and spend money on different things. You have a lot of responsibilities. And you need to do everything.
Do you pay yourself first? You are paying yourself so that you can do something later. You are paying your future self for a bright future. When you get paid in a checking account, a certain portion will automatically be transferred to your savings account if you set it up. When you have savings, you can do a lot of things with that. If you find it hard to save money, look at your budget. You will find your way to reduce expenses and that will add up to your savings.
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About Me
Hi, I am Rezoanul Vibes. I'm a content creator and passionate learner. I write about lifestyle, finance, martial arts, and digital marketing. I'm glad to meet amazing people all over the world.
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▶️ 3Speak
I think the issue is with financial education. Most people just aren't good at managing their own finances.
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You're right. People work hard to make money, unfortunately, due to wrong financial decisions, they lose their hard-earned money.
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I have something I call a money magnet. It makes more money come into my life all the time and anyone can copy it because it works very simply:
You just take 10% of your income and transfer it to a separate account. However, you never touch this account. You must never withdraw even a single penny from this money magnet, otherwise it will lose its effect. This is because the money magnet only works if it grows steadily.
Even if you send 10% of your income to the money magnet, after some time you will notice that you will dispose of more money. It sounds crazy, its functioning cannot be justified with pure mathematics, but it works anyway and many successful people have tested it and implemented it into their system.
Try it out and let me know what you think!
That's a good habit. If someone saves 10% of income, that will be huge over time. And if he gets compound interest on that, that will grow faster. Thank you for your feedback!
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From my childhood they taught me to save, they always told me, in life not what matters but what we eat and the clothes we wear and of course you must leave an amount saved because you don't know what can happen, it's what I do now that I have 20 years, even here we are making savings as they give us the rewards.
Conclusion , spend prioritizing , treat yourself , and save for the unforeseen
That's a great life lesson. There are things that we need badly to survive. As you said, spend prioritizing, that can guide you on where to spend your money. And you will be prepared for the unforeseen. Thanks a lot @lupega for your thought-provoking comment!
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