Have you ever heard that you have to ‘pay yourself first’? The idea of paying yourself first is that you are securing your finances for the future before you’ve paid the bills. Think it’s impossible? It’s not!
A general breakdown of the 10/10/10 Plan is to:
- Invest 10% of your earnings — you may not know what you want to invest in today, but when the opportunity arises, the money will be waiting for you.
- Save 10% for emergency situations. We hope you never need it, but it’s better to have the money tucked away for a flat tire or pet expense that you didn’t see coming.
- Give 10% to charity! Giving back is a big one that people overlook. Giving back helps bring money back to you — it’s karma, baby!
By paying yourself first, you’ll be building up to a more secure financial future. If you’re saying to yourself, “sure, but I can’t pay my bills now,” then the act of paying yourself first is perfect for you. Let your brain do it’s magic and get creative on how to earn the remaining money to pay the bills. Everything you need is within you to achieve these goals. This is an excellent opportunity for you to develop and grow.