In today’s world we are often daunted by the bills we must pay or the money that we lack to support our lifestyles, but consider a new way of thinking that can change your financial health for good. It’s called PYF (PAY YOURSELF FIRST)! Now what you may not realize about this idea is that it can help create positive results as well as set your path towards achieving Financial Freedom. Having put this analogy into our own personal lives and business, it has given us the ability to save a good amount of money in a short amount of time. It usually works best when you are frequently earning an income from some sort of means such as a daytime job or cashflow from a business.This technique is most frequently ignored by the majority of the world, due to the lack of financial education. We must decide for ourselves to make changes and build positive financial skills and habits. Along with PYF (PAY YOURSELF FIRST), we have applied a simple rule called the 30% RULE, which has really allowed us to manage our money better. We derived these practices from financial masters Robert Kiyosaki, Kim Kiyosaki and Natali Morris, to mention a few and have grown to love the concepts they teach. For every dollar that we earn we place 30% of the amount into a separate bank account which is then divided into 3 categories; 10% for personal savings, 10% for donations, and 10% for our real estate investing business. Now one important note to take, is that this money is taken away before paying any bills or expenses. We have honestly seen great results using these practices, however you should not ignore your bills in order to PYF, but get creative and find new ways to produce money.
Now, you know what to do but exercising this method continuously is where it will truly show benefit. We have learned that with persistence our goals become attainable and without commitment we end up with nothing. This is such a great way to see your saved money accumulate which then motivates you with excitement. This method will help you achieve something that most of us fear impossible because of the countless responsibilities that we hold, but don’t limit yourself and do what is most important, which is to PAY YOURSELF FIRST. Growing your savings might seem like a good idea, but you might feel like YOU are “honestly” not capable at the moment. Well, start off small and begin by cutting away unnecessary expenses and limiting to the utmost minimum eating out every day, going to the movies every weekend, going out for drinks, etc. We all know the activities we should limit because they might not be the healthiest financially so, pay attention to your gut and go through with your plan of investing by taking the first step and increasing your savings towards your goal of Financial Freedom. Have a beautiful weekend and an amazing FINANCIAL FREEDOM FRIDAY!!!
All the best,