Pay yourself first

Prioritise your savings, not saving what is left after spending.

When budgeting, consider what is necessary to cover your basic needs, then figure out how much you want to save. The leftover is spending money. If it helps, think of your savings and investments as a monthl...

• 50% of your income goes toward essential expenses: rent, bills, minimum debt payments.
  
• 15% percent goes to retirement savings. They also suggest you increase this by 1% each year.
  
• 5% goes toward unexpected monthly expenses or building an emergency...

• Building an emergency fund: set up an automatic weekly or monthly transfer from your checking account to your savings, then leave the savings alone until an emergency appears.
• Eliminating high-interest debt: Set up a simple debt repayment plan by organizing your debts b...