Finance 101: Pay yourself first. Get in the good habits train.
The biggest realization I have had since I started this wakening journey, is that it is not about a fancy corporate title along with a fancy paycheck. It actually is about small and consistent steps, good habits, the “just put one foot in front of the other”. We won’t get too far making a tone of money every 2 weeks if we spend even more. Sadly, it is the reality most people are living at this very moment.
In my case, I used to think that by magic, and by magic I mean because a graduated and have a title so automatically it would happen…(spoiler alert: that’s not how it works) I will get the fancy job along with the fancy check and then I will have some left to put away, just because; oh yes, I didn’t even know why I would save. Two huge and costly mistakes.
Funny and cruel story I know, I know. Just be happy for me I opened my eyes and started taking action. Now I want to save you some time and tell you how it is. There is no magic! There is not because you went to school, everything will work out. Life is not a straight line up; we all go through ups and downs and that is a good thing.
What we really need to focus here is in the small steps and the good habits we can start implementing today, now. And the habit I want to talk about today is the amazing habit of paying yourself first.
Lets first define what this means. It means that the first thing you do when you receive any kind of income is that you put away a portion of what you receive. This money has the purpose of taking care of you in the long run. You are not supposed to spend it, you are supposed to live out of what that money, converted to assets, produce.
We have talked about this in a previous article, but I want you to focus on taking that first step of putting something aside. Just start cementing that habit. Take advantage of making this process automated so you don’t have to think about when your next income hits your bank account.
Also, know WHY you are doing it. Pretty much you are doing it for yourself, for your stability, your well-being, your security and definitely for your peace of mind.
Are you planning to start today?
