Paying yourself first is the golden rule of personal finance. What does “paying yourself first” mean? It means making your savings a priority – before you spend your hard-earned money on anything else, you make sure that you allocate money to your savings.
When you pause to think about it, it makes a lot of sense. Do you care more about the financial wellness of your local coffee shop – or your own? Paying yourself first means putting your own needs, and your own future, before anything else. That can be a lot easier said than done, especially if money is tight, but it’s important to remember that you don’t have to do it all at once. Start small with just $100 each payday, or even a dollar a day, and watch your savings grow!