Welcome to the second article of my series. This article is about paying yourself first. You could probably find hundreds of articles on the internet about this very topic. It is a common theory used by many financial advisors. It is an important theory that is worth discussing.
The reasons for paying yourself first are easy to figure out, you get to build a savings account, you get in the habit of saving, you build your emergency fund, and more. In my opinion, the most important reason to pay yourself first is to force yourself to live below your means.
If you get in the habit of saving a percentage of your check every week, or whenever you happen to get paid, you will be on a good path. Of course, dont put 10% of your check in the bank and then go spend $2000 on a credit card, that defeats the purpose. Anyone that reads about personal finance probably knows the average American not only has no savings account but they have a negative savings. That simply means they spend more than they make. If they got injured and were out of work theyd have trouble paying their bills for one month, never mind more. The average credit card debt in a household is nearing...
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