Pay Yourself First:  The Basic Concept To Start Saving Money

Pay yourself first: the crucial step to improving your financial game when it comes to saving money and reaching your retirement investing goals.

These three words combined create a savings method that everyone should use, but it’s also overlooked or forgotten.

The Basics of Paying Yourself First 

The idea is that the money goes towards your financial goals first, before paying any monthly bills, debts, or using it for any spending.

How to Pay Yourself First

As simple as that might be, there are a few tips and steps to ensure you are successful.

This lets you see how much per month you actually have to save before you get started. 

1. Know what your expenses are 

2. Create automatic transfers from checking to savings

Many banks allow you to schedule recurring transfers in some way between checking and savings. 

Money is automatically taken out and added to your 401k for you before you get your check, plus many companies offer the company match to a certain percent. 

3. Participate in your company’s 401k plan 

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