One Easy Step to Building Wealth: Pay Yourself

Everyone else gets their hands on your hard-earned dollar before you get anything.

By paying other people first and yourself last, you are guaranteeing a mediocre financial situation for yourself.

1

What is Paying Yourself First?

Take a portion (10%-20%) of that paycheck and put it away into savings/investing BEFORE you do anything else with the money.

2

What Happens When You Pay Yourself First

Setting aside money first doesn’t even affect you and you’ll realize that you earn enough money to both enjoy life and save for your future.

3

How Human Brains Work

“Losses loom larger than gains” (Kahneman & Tversky, 1979). This idea is that people gain more unhappiness about losing something than they gain happiness from acquiring the exact same thing.

4

The Magic of Tax-Deferral

By using tax-free savings accounts and tax-deferral accounts, you can save almost ALL of that tax money.

5

How to Automatically Pay Yourself First

With the online banking of today, it’s easier than ever to automate paying yourself first.

6

Get Out There and Start Building Wealth

Paying yourself first is undoubtedly one of the most powerful and easy ways to build long-term wealth.

7

Get out there, start saving, and start building your financial future. I promise that your future self will thank you for it!