Is it Selfish to Pay Yourself First? by Joel of 5AM Joel


Am Joel Dot Com. When you hear, pay yourself first. What do you think of? It sounds like something. A rich and greedy person would say. Let's break it down. Pay Equals something money related yourself. I equals something selfish, the complete opposite of what our parents taught us. Okay now let's see what happens. If we include the words in a full sentence. Pay Yourself First, so you can help more people later. Pay Yourself first a little bit, and then pay others allot. Your family will never starve if you pay yourself first. Giving becomes easier when you pay yourself first. doesn't sound so selfish anymore. Maybe the people preaching this are onto something. You may be familiar with to pay yourself first rule for saving money and growing wealth I. I read it in the old book. The richest man in Babylon the book tells a story that makes you rethink your priorities when distributing your hard earned money, most people out there are living on a tight budget. They have their income minus all their expenses and afterward they WANNA save every cent possible with what's left over the problem. Problem is what's leftover. What's left over might be a decent amount, or it might be a little amount, but most of the time it's not very much or nothing at all. Saving might be a priority for people, but for some reason it's usually the very last category to get paid. If saving money is a true priority, you need to treat it as such I drew a quick illustration in this post showing the difference. You may have noticed the pay yourself. First method involves both pre tax and post tax savings. We can chat another time about avoiding Uncle Sam. Paying yourself first insurance. You never skip out on your savings. No matter your income, no matter your age, no matter your debts or loans in life paying yourself first out of every paycheck means you are consistently growing wealth. Time. Pay Yourself first is not always a money related saying is, isn't time supposed to be our most precious asset just like money? Most people have good intentions of saving their time. We constantly learn to be more efficient and create shortcuts wherever possible to gain more free time, but again most people have the what's leftover mentality with their time. Although personal time might sit at priority number one in their brain, it's the lowest paid category each day just by shifting the clock and moving priorities around the person who follows the pay yourself first method. He's never missing out on personal time. The always have spare time. Do you know anyone like this? I know you're probably sick of hearing. My five am stories. You might even argue that you're most productive. Hours are between nine and eleven pm each night. If that's honestly true for you, I'm jealous of your gift. giving. So far, we've covered making sure that you're always paying enough time and money to yourself, and it may still sound a bit too selfish. What about giving to others? It's a common belief that rich people are greedy, and that people with too much time or lazy, but life is taught me the opposite, and so I've developed a theory. When you're in abundance, you usually share more when my wife and I I moved to Los Angeles. We lived on the outskirts of a very fancy

Coming up next