Cash Is King: Part 2 – Pay Yourself First
Why save money? In today’s low interest rate environment, it can seem like saving is just putting money on the sidelines, where it’s not even holding its value by keeping up with inflation.
But saving is the age-old wealth principle of paying yourself first, and it’s the first and most important thing that the successful make a habit of doing, that unsuccessful people don’t like doing.
We dig into the top 10 big ideas about savings from The Richest Man in Babylon, by George S. Clason.
You’ll learn from this allegory what it means to pay yourself first, why it’s the first step to wealth, and how to put it into action.
Top ten big ideas:
- Part of all you earn is yours to keep
- Save to get money to work for you
- At LEAST 10%
- Pay yourself first
- Prepare for opportunity
- Start now
- Don’t just save to spend later
- First step to the temple of wealth
- Gold likes gold
- Highest first
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