Pay Yourself First (Make it Automatic)

Written by Ash’Cash on July 24, 2010

 

Some of us were born in poverty, disadvantaged from the start, with no way out we destined ourselves to become what we were supposed to be, failures. But just like our roots we are warriors and despite all that is against us we manage to overcome the obstacles and leap boundaries that we were never expected to leap. Whether it’s the board room at a fortune 500 company, the runway in Paris, the Hollywood premier or the stage that the Beatles once performed on, we are all hustlers, soldiers and survivors that are capable of doing whatever we put our minds to. Although we defeat adversity, we’ve been poor for so long that when we get this money, this chance to change our circumstance, what do we do? We buy big cars, clothes, and jewels, all which lose value faster than the dime piece turned crack head;

By making these choices we allow ourselves to become vulnerable to going back to square one. The only difference between the rich & the poor is that the rich teach their kids about saving for the future, about the difference between gross income and net income, about net worth, stocks and bonds, appreciation and depreciation, NASDAQ and Dow Jones. The only Jones we know is Mike, Jimmy and Roy. With our lack of knowledge and lack of financial discipline, even if you have the tenacity and talent to go after your dreams and live the life you want to live, without a proper financial plan, you put all of your hard work and dedication at risk.

The first step is to pay yourself first! Create a savings plan that will begin to help alleviate the daily stress of not having money. To begin make sure it is automatic. Don’t rely on your memory or your ability to curve temptation. Set up pre-authorize transfers from your checking to savings or have a portion of your direct deposit transferred automatically. Doing it this way makes it less painful and easier to start saving because it takes the control (or lack of) away from you. You set it then forget it. Its that simple! Once you have a savings plan in place you are well on your way to financial freedom!

Ash’Cash is a Business Consultant, Motivational Speaker, Financial
Expert and the author of Mind Right,
Money Right: 10 Laws of Financial Freedom. For more information visit
www.IamAshCash.com.

Original Article Published in Concrete Magazine #13