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Finance, The Best Advice Ever About Money
by Zamri Nanyan
Wanna know the best advice ever you can get about money? Here it is...
Let's say that you are getting regular monthly salary from work and you are happy with it. Now, at the end of the month (and most of the time, two days after you get your paychecks), you wonder where all your money is gone.
You begin reasoning.
30% of it goes to house mortgage.
20% of it goes to car payment.
10% of it goes to credit card payment.
5% of it goes to utility bills.
etc, etc, etc...
"That should be fine. I've got all taken care of. Next month, I'll get another paycheck and the same cycle goes on and on... enough for me to survive the whole life." Well, you gotta be careful now.
What happens if your car broke down? What happens if your kitchen needed renovation after a heavy storm last night? What happens if you suddenly forgot that you've overspent your credit card? What happens if you fell sick? Things could be worse, and now is the time that the cliche "Fix your roof on a sunny day" is very much true to you.
You don't want this to happen to you, right? There could be thousands of things that could go wrong in our lives but unless we realize that we need to prepare for the worse, we'll never get ahead of ourselves.
Sometimes, fixed salary could be a good thing for you because you can plan with what you want to do with your money on a predicatble basis. Though I strongly believe that you still need a secondary income - preferably a recurring secondary income - to improve your financial situation at any level.
And, the best plan to improving your financial situation is...
PAY YOURSELF FIRST.
That's right! Regardless if you have $300,000 of house mortgage or a $100,000 savings in the bank, make it a habit to pay yourself right after you get your monthly paychecks. This habit will definitely help.
Let's see...
You've been paying everybody you owe every month. You pay the bills, the banks, the mechanics, the who knows who and you actually get nothing, except settling the scores.
There's just another person that you forget to pay - that is YOU.
Imagine yourself as a bill collector on yourself. No matter what, you have to pay yourself at the beginning of every month (I suggest 10% of your salary. The more is better) - or else you cease to function as yourself.
Never fail to pay your SELF and only after you pay yourself, then you pay the others.
Hard? Yes, at first, but once you put the action of "Paying Yourself First" into habit, you'll actually enjoy doing it, knowing that you do good deeds to yourself.
Try it once. Then do it the second month. And then, another... and another.
PAY YOURSELF FIRST because you deserve much more than the other bill collectors.
About The Author: Zamri Nanyan models a low-cost, high-profit concept to build successful internet businesses, as mentioned at http://www.LowCost-HighProfit.com. He now owns and operates several money-making websites from the comfort of his own house. Read more about Zamri Nanyan at http://www.ZamriNanyan.com
These articles on lifestyle and more
Return to the selection of finance
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The information provided in this article is the express opinion of the author. Exchangenet is not responsible for the content!
Wanna know the best advice ever you can get about money? Here it is...
Let's say that you are getting regular monthly salary from work and you are happy with it. Now, at the end of the month (and most of the time, two days after you get your paychecks), you wonder where all your money is gone.
You begin reasoning.
30% of it goes to house mortgage.
20% of it goes to car payment.
10% of it goes to credit card payment.
5% of it goes to utility bills.
etc, etc, etc...
"That should be fine. I've got all taken care of. Next month, I'll get another paycheck and the same cycle goes on and on... enough for me to survive the whole life." Well, you gotta be careful now.
What happens if your car broke down? What happens if your kitchen needed renovation after a heavy storm last night? What happens if you suddenly forgot that you've overspent your credit card? What happens if you fell sick? Things could be worse, and now is the time that the cliche "Fix your roof on a sunny day" is very much true to you.
You don't want this to happen to you, right? There could be thousands of things that could go wrong in our lives but unless we realize that we need to prepare for the worse, we'll never get ahead of ourselves.
Sometimes, fixed salary could be a good thing for you because you can plan with what you want to do with your money on a predicatble basis. Though I strongly believe that you still need a secondary income - preferably a recurring secondary income - to improve your financial situation at any level.
And, the best plan to improving your financial situation is...
PAY YOURSELF FIRST.
That's right! Regardless if you have $300,000 of house mortgage or a $100,000 savings in the bank, make it a habit to pay yourself right after you get your monthly paychecks. This habit will definitely help.
Let's see...
You've been paying everybody you owe every month. You pay the bills, the banks, the mechanics, the who knows who and you actually get nothing, except settling the scores.
There's just another person that you forget to pay - that is YOU.
Imagine yourself as a bill collector on yourself. No matter what, you have to pay yourself at the beginning of every month (I suggest 10% of your salary. The more is better) - or else you cease to function as yourself.
Never fail to pay your SELF and only after you pay yourself, then you pay the others.
Hard? Yes, at first, but once you put the action of "Paying Yourself First" into habit, you'll actually enjoy doing it, knowing that you do good deeds to yourself.
Try it once. Then do it the second month. And then, another... and another.
PAY YOURSELF FIRST because you deserve much more than the other bill collectors.
About The Author: Zamri Nanyan models a low-cost, high-profit concept to build successful internet businesses, as mentioned at http://www.LowCost-HighProfit.com. He now owns and operates several money-making websites from the comfort of his own house. Read more about Zamri Nanyan at http://www.ZamriNanyan.com
These articles on lifestyle and more
Reprint this article free of charge as long as you keep the author's resource box or bio intact and the links active. A copy of the ezine or URL of the page where the article was reprinted emailed to the author would be very much appreciated. finance
Return to the selection of finance
You may want to try these articles on finance
Finance, Find Very Affordable Health Insurance In Alabama by Elizabeth Newberry Approximately 351 Words
Finance, How To Analyze A Home Owner Insurance Quote Comparison by Elizabeth Newberry Approximately 367 Words
Finance, How To Get A Low Rate Home Owner Insurance Price Quote by Elizabeth Newberry Approximately 358 Words
Finance, What Is Cheap Car Insurance In Salt Lake City by Elizabeth Newberry Approximately 361 Words
Finance, How To Get Cheap Portland Car Insurance by Elizabeth Newberry Approximately 335 Words
Finance, Debt & Marriage: How To Eliminate One & Save The Other by Alex Daniels Approximately 540 Words
Finance, Removing Negative Items From Credit File by Debbie Dragon Approximately 560 Words
Finance, Garbage In, Garbage Out by Ben Franklin Approximately 566 Words
You may want to try these websites for additional information
http://www.globeinvestor.com/
http://www.citibank.com/us/
http://www.afajof.org/
The information provided in this article is the express opinion of the author. Exchangenet is not responsible for the content!
