Pay Yourself First

   If you don’t pay yourself first, you won’t pay yourself at all. Period. Again, this isn’t a concept I created, but it works. A good number is to try and set aside at least $50.00 each month for your investments. If you can’t afford that, then you’ll have to do some digging to come up with the money. Is your cable $50.00 per month? Maybe you could downgrade to save $20 a month and then you’re almost halfway to $50. When you’re on a budget, you have to make trade-offs – you have to decide if you’re willing to make cuts to start an investment portfolio or retirement fund. It’s up to you to decide if investing is feasible or not – with some juggling, hopefully you’ll find that it’s possible. If not, the focus has to be on increasing your income. See you Thursday Finwiz.