Pay Yourself First - Deepstash
Pay Yourself First

Pay Yourself First

  • The book emphasizes the importance of saving a portion of your income before spending it on other things.
  • Aim to save at least 10% of your earnings and gradually increase that amount over time.

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Similar ideas to Pay Yourself First

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...

Focus on percentage of income saved, not the dollar amount

Focus on percentage of income saved, not the dollar amount

Over the long term, it's not as much about the dollar amount you save, but the percentage of your income that you dedicate to saving and investing. By focusing on percentages, you can ensure you're always saving more as you earn more. 

The habit of saving more

The key to the habit of saving is to save a bigger percentage the more you earn. When you start, you may only be able to save 10% of your income, but it is a mistake to commit to the same amount if you earn more.

However, it's a losing game to only focus on saving money. L...

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