Pay Yourself First (The Financial Series) | #46 | podcast | superb diamond range

#46

Disclaimer:

We are not financial advisors. The content on this podcast and YouTube videos are for educational purposes only and merely cite our own personal opinions.  In order to make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial advisor if necessary.  Know that all investments involve some form of risk and there is no guarantee that you will be successful in making, saving, or investing money; nor is there any guarantee that you won't experience any loss when investing. Always remember to make smart decisions and do your own research!

Pay Yourself First!!!

How I first heard of the concept

Allocate a percentage of your wages say 5% or 10% or more

Put your name on the bill column

Do it before the bills

Move to a separate account 

Can be accessible or locked away in a pension

Direct debit or standing order

Automatic payments

The advantage of the earlier you start the better due to magic of compounding

Helps with budgeting, how little can I live on this month?

Automation creates momentum and momentum is key

Importance of taking care of yourself first

Always save before you spend, money left in your account if you're like me you'll find a way to spend it.

Be mindful if you owe high interest credit cards or other types consumer debt

Honourable mentions:

Julio De Laffitte

https://youtu.be/nSXpmjNP2Ug

-

City Boys R Us

https://youtu.be/0cps1sWxvHs 

-

Book: The Richest Man in Babylon by George S Clason

-

Podcast: https://podcasts.apple.com/us/podcast/superb-diamond-range/id930684983?mt=2 https://podcasts.google.com/?feed=aHR0cDovL3N1cGVyYmRpYW1vbmRyYW5nZS5saWJzeW4uY29tL3Jzcw https://tunein.com/podcasts/Educational/Superb-Diamond-Range-p677627/ https://www.stitcher.com/podcast/libsyn-9/superb-diamond-range Follow on: https://twitter.com/superbdiamondra https://www.youtube.com/channel/UCztKXSrR8fC4CbVVJ9aC8_w Contact the show: superbdiamondrange@gmail.com