Jun
1st

Pay Yourself First

Filed under Teacher, Thinker | Posted by Saphrym

Forgive the rehashed content. This is advice given to me a long time ago and I still feel it’s true. See, I was looking at our savings accounts and it occurred to me that some of you may not have ever heard this particular advice. My grandfather is the one who gave it to me. It goes like this:

Pay yourself first.

I know. I know. Quite a short piece of advice. But there is a lot of meaning in those three words. Here’s a couple of those meanings:

  • When you pay your bills, make sure one of them is an account you use for entertainment. This kind of goes with the whole “all work and no play makes Joe a dull boy” type of advice. But it’s true. What good is making money if you can’t enjoy it some? If you don’t enjoy it, then you’ll resent your job, you won’t do your best work, and you’ll never get further with your career. The most successful people have expensive toys for a reason. Of course, that goes against my consumerism post from a couple of days ago. But that was about money that was given to us by the government for the specific reason of faking a good economy. This is different.
  • When you make a schedule for your week, give yourself time to enjoy yourself. Schedule in some time with your favorite gaming console, book, television show, etc. Make sure it’s something you enjoy doing. Again, what good is time if you waste it on serious stuff? Are we truly meant to work, sleep and repeat? No. We’re meant to live.

What are your ideas? Are there other ways to “pay yourself first?”

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5 Responses to “Pay Yourself First”

  1. By viveca on Jun 5, 2008 | Reply to this comment

    Right on!

    I am taking this week off to live large with my mother who is out visiting me for 10 days. Spent the month before her visit working all the live-long-day. Balance, the “B” word goes will with Fun and Friendship, the “F” words we all need more of. A hundred years goes faster than we think …

    Viveca

    vivecas last blog post..Friendship Reading List - Health Benefits of Friendship


  2. By Louie on Jun 6, 2008 | Reply to this comment

    This is great advice Saph. Rewarding one’s self will give the person proper motivation to go on with whatever he/she is doing.

    Louies last blog post..Find your DriverSide


  3. By James on Jun 7, 2008 | Reply to this comment

    A key point that many people forget. We often focus on paying other who can wait instead of focusing on paying ourselves which allows use to fulfill more important goals.


  4. By Josh on Jun 7, 2008 | Reply to this comment

    I cant say how important this is. I love the book The Richest Man in Babylon. In there he talks about doing just that, paying yourself first. I know for myself as that money grows I feel an ever increasing since of accomplishment and pride. I was surprised that I really didn’t miss the money from my life once it was immediately gone and into a separate account from the sec I got it.


  5. By Saphrym on Jun 16, 2008 | Reply to this comment

    I agree with all of you. Paying yourself first is quite important.


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