Originally published at: https://africaextended.com/things-that-matter/finance/what-it-means-to-pay-yourself-first/
There seems to be an endless stream of envelopes from companies all demanding payment for their products and services. It feels like you have a choice of what you want to do with your money ONLY after all the bills have been paid. And this even if there’s anything left over. While you are not…
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This is definitely the starting point to creating a better financial. No matter your excuse, if you don’t pay yourself first, any financial plan you have is a mere dream. While it is okay to start with saving 10%, I actually recommend 20%. It may be a huge ask in the beginning, but if you stick to it, your expenses will adjust accordingly.
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I totally agree with you but this takes a lot of discipline. Saving is not something we are used to. Some, one has to make a conscious effort to cultivate this habit.