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The Best Advice Ever About Money
By: Zamri Nanyan
Wanna know the best advice ever you can get about money?
Here it is...
Let's say that you are getting regular monthly salary from work and you are
happy with it. Now, at the end of the month (and most of the time, two days
after you get your paychecks), you wonder where all your money is gone.
You begin reasoning.
30% of it goes to house mortgage.
20% of it goes to car payment.
10% of it goes to credit card payment.
5% of it goes to utility bills.
etc, etc, etc...
"That should be fine. I've got all taken care of. Next month, I'll get another
paycheck and the same cycle goes on and on... enough for me to survive the whole
life."
Well, you gotta be careful now.
What happens if your car broke down?
What happens if your kitchen needed renovation after a heavy storm last night?
What happens if you suddenly forgot that you've overspent your credit card?
What happens if you fell sick?
Things could be worse, and now is the time that the cliche "Fix your roof on a
sunny day" is very much true to you.
You don't want this to happen to you, right?
There could be thousands of things that could go wrong in our lives but unless
we realize that we need to prepare for the worse, we'll never get ahead of
ourselves.
Sometimes, fixed salary could be a good thing for you because you can plan with
what you want to do with your money on a predicatble basis. Though I strongly
believe that you still need a secondary income - preferably a recurring
secondary income - to improve your financial situation at any level.
And, the best plan to improving your financial situation is...
PAY YOURSELF FIRST.
That's right!
Regardless if you have $300,000 of house mortgage or a $100,000 savings in the
bank, make it a habit to pay yourself right after you get your monthly
paychecks. This habit will definitely help.
Let's see...
You've been paying everybody you owe every month. You pay the bills, the banks,
the mechanics, the who knows who and you actually get nothing, except settling
the scores.
There's just another person that you forget to pay - that is YOU.
Imagine yourself as a bill collector on yourself. No matter what, you have to
pay yourself at the beginning of every month (I suggest 10% of your salary. The
more is better) - or else you cease to function as yourself.
Never fail to pay your SELF and only after you pay yourself, then you pay the
others.
Hard?
Yes, at first, but once you put the action of "Paying Yourself First" into
habit, you'll actually enjoy doing it, knowing that you do good deeds to
yourself.
Try it once. Then do it the second month. And then, another... and another.
PAY YOURSELF FIRST because you deserve much more than the other bill collectors.
About the Author:
Zamri Nanyan models a low-cost, high-profit concept to build successful internet
businesses, as mentioned at
www.LowCost-HighProfit.com. He now owns and
operates several money-making websites from the comfort of his own house. Read
more about Zamri Nanyan at
www.ZamriNanyan.com
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