Wednesday, December 9, 2015

Pay Yourself First - Yes, Even Before Your Bills

The philosophy of the rich versus the poor is this: The rich invest their money and spend what is left; the poor spend their money and invest what’s left. ~ Jim Rohn

Think you don’t make enough money to save some of it? Think again!

If you earn $25,000 a year for 40 years, you will have earned $1 million dollars! Earn $35,000 for 40 years, and you’ve earned $1.4 million dollars. And if you earned $45,000 for 40 years, you’d have made $1.8 million dollars!

Just like your taxes are automatically taken out of your check, you can automate paying yourself first as well. By paying yourself first, you can get ahead in the savings game.

Here’s what can happen when you save just $100 a month for 40 years:
  • At 3% interest, you would have about $93,000.
  • At 5% interest, you’d have about $153,240.
  • If you got a 9% interest rate, you’d have about $472,000!
That’s the power of paying yourself first! After all, it’s not what you earn – it’s what you keep!

I'm so excited to share this information with you. If you have enjoyed the information or feel that it would benefit someone else, please share it. If you have any comments, please post them below, otherwise, feel free to contact me.
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