There is oodles of financial advice going about, but one little snippet trumps them all.
“PAY YOURSELF FIRST”
Solid and simple advice which means that you should squirrel away some of your income before you splurge.
Also it’s best to automate the process. Divert the funds so that they are out of site and you are then less likely to dip in. It also gives you the space to experience delayed gratification – another wholesome little practice that puts off buying things. This brings patience and a sense of calm and poise to your purchases making them all the more enjoyable. So when buying something important, never be in a hurry as it may be in your presence for longer than you anticipate.
Pay yourself first was coined in the 1920’s by George Samuel Clason who founded a publishing business in Denver, Colorado.
He is quoted as saying, “The secret to personal financial success is believing and practicing this axiom: Part of all you earn is yours to keep. Learn to live on less than you make and save the balance for yourself.”
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