Every time you get pay, do you look at your bank account and realized all the money went to pay the bills and there’s nothing left for you? What if I tell you that you are your most important bill that you currently hold and you should be paying it first?
Yes!
You are your most important bill and it is crucial that you start treating yourself as such!
Here is how you can start doing so:
- Split your paycheck – Have your job send a percentage or a specific amount of your paycheck to a different bank account that you do not have access to. Normally, your job allows you to do so yourself by going into your employee portal or in other instances, you have to give them the information of the account where you want the money to go to.
- If you are an entrepreneur or your job doesn’t offer you direct deposit, a great alternative is to set up automatic transfer directly from your bank once a month or twice a month to your savings. The frequency depends on you and your financial goals.
By using this method, you are paying yourself first. The money that ends up in your “bills” account is for everything else. And your savings will start growing without you even noticing it.
Disclaimer: Make sure whatever amount you decided to put aside is a realistic amount. Do not place yourself in a financial hole, sometimes we have expenses/bills that we don’t need or can be reduce. Always look at your financial situation in a bigger picture and figure out the best way to implement this method without hurting your pockets.
Remember, you have to prioritize yourself first because you and your future are your most important bill that you currently hold!