#105 – Become financially secure using the “Pay Yourself First” strategy.

Keep it simple. Go to the bank and set up three savings accounts: one for emergencies, one for investments and one for vacations and miscellaneous. Have the bank transfer money automatically to all three accounts every month.

 

Make it a rule to never touch the funds in your investment account except to invest in something that will make you money. Whenever you get a raise, add to all three accounts. If you can’t pay yourself first and pay your bills too, reduce your costs in other areas so you can.   If the amount you have is too small to start a bank account, then put the money in three envelopes.  It doesn’t matter how small the amount is, it just matters that you begin.     

 

Just as important as the above is to keep track of your money and what you are spending it on.  Just becoming conscious of your spending will change your financial life.       

 

 

 

 

 

 

 

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About sand1

When I was young, I made a lot of bad choices. The only way I knew to dig myself and my family out was to go to the library, always hoping that the next book I read would change my life and thankfully, often many of them did. Out of gratitude for the happy life I have now, I decided to share what I have learned, and continue to learn. I hope that Tuesday Tips helps you as much as they have helped and continue to help me. Sand
This entry was posted in action, affirmative contemplation, attitude, Blogroll, happiness, Inspiration, kindness and compassion, life and love, life coach, money, Motivational, new thought, positive psychology, Positive Thinking, relationships, Self Help, Success and tagged . Bookmark the permalink.

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