Do you pay yourself first?

[Starmix]

After a month's straight work, the salary is released, or it might be every 15th and 30th of the month. During that day, we consider ourselves one-day millionaire, lol. As soon as you have the money, what do you do with it? Of course to set aside payments for the bills and food. All those essentials at home must be attended to. But I have heard others pay themselves first, the same way I do. Paying the self does not imply money to be spent for others but for yourself. In my case, I treat myself to lunch at my favorite resto, Chowking. I am doing this alone once in a blue moon or during payday. I seldom invite friends to join me, unless splitting the amount, lol. But we have to be smart. Let us not waste our money bonding with friends. They will disappear once you have nothing.

What about you? Do you pay yourself first? How?

 

[Salt]

Its one of the things that we need to learn quickly and should pay ourselves first and this means we need to invest a fixed percentage from our salary every month

 

[Starmix]

That's always the case to apply the rule 50 - 30 - 20. Saving is 20 per cent that's for the rainy days and old age. Paying the self is to treat the self to a fine dine or buy something new.

 

[Salt]

I would like to apply this in my life and for that I need to start with my investments soon and actually its a good way to have a disciplined approach in life

 

[Inem]

When I balance my books every month, I make sure I pay myself salary that can sustain me and put the rest back in the business.

 

[Starmix]

I would like to apply this in my life and for that I need to start with my investments soon and actually its a good way to have a disciplined approach in life

I am hoping you can start your investment soon. The feeling is nice if invest in something you like. I have my investment in the milk tea selling and I feel not anymore insecure on money.

 

[Inem]

Some business people all in the name of building a business would starve themselves. As you put in work as an entrepreneur. Try and pay yourself something. You deserve it.

 

[Salt]

I am hoping you can start your investment soon. The feeling is nice if invest in something you like. I have my investment in the milk tea selling and I feel not anymore insecure on money.

You have done well and glad you were helped by your sister and now you can even plan to expand your business and earn more

 

[Starmix]

You have done well and glad you were helped by your sister and now you can even plan to expand your business and earn more

Thanks so much yes I plan to rent another space in a nearby mall. It might be next year. I have to plan it well and scout for the right candidate for cashiering.

 

[Heatman]

I have a business of my own that's a business of poultry and fish farming. I have 6 workers on payroll. I usually pay them monthly basis because that what they all requested. Before it's time for their pay day, I must have done all the financial calculation to know how the business have gone for the month, know my profits and likely losses. After then, I will work on their payments.

 

[Shortie]

Being that I am the only employer right now in my business, I tend to only need to pay myself and that is it.

If I were to end up with employees then I would definitely look at splitting the amount 50/50 between myself and the employees that I had as well, paying myself first and then the employees if I had any.

 

[Debashis]

Yeah. I have a automatic system that deducts money from my account on 1st of every month and invests in all the stocks I've chosen already. That way I pay myself first. Then the use a small portion for paying rents and stuff.

 

[Heatman]

Yeah. I have a automatic system that deducts money from my account on 1st of every month and invests in all the stocks I've chosen already. That way I pay myself first. Then the use a small portion for paying rents and stuff.

I have the same arrangement with my savings account to have 25% of all the money in my account saved every month. The 25% goes into my fixed deposit account. This is a very good way save money without too much stress.

As for my online jobs, I get paid by my clients and most of the money goes into my online investments and some of them into my business of poultry and fish farming.

 

[Ja sa bong]

The expenses in my business is what I pay first. It's when every expenses have been paid, the money which is left over is my profit from my business. I will need some of it for my personal life needs, the rest will go back to the business. I like expanding my business as it's how I would have improved profit making.

 

[Heatman]

Being that I am the only employer right now in my business, I tend to only need to pay myself and that is it.

This is the beauty of working online as a freelancer. All your allegiance is to yourself. Any expenses that you need to pay for is your own expenses and any other money that's left is yours to use on anything that you so please.

It's good to strive harder when it comes to jobs you do online so as to make make it possible to increase your chances of making more money.

 

[Grant]

All the money goes to me, so I usually use it for buying food, supplies, clothing, fun stuff and then I save some of the money and invest some of it if possible. I try to even it out a bit, but most of the expenses will go towards bills and essentials first.

 

[Heatman]

All the money goes to me, so I usually use it for buying food, supplies, clothing, fun stuff and then I save some of the money and invest some of it if possible. I try to even it out a bit, but most of the expenses will go towards bills and essentials first.

I'm definitely going to put my money in paying for the essential things that I need because they are the important one's. I can't start using money to get things I can do without when I have far more pressing things that need the money. I budget for my rent one year ahead, then food and other basic home needs.

 

[Kane]

My first priority after receiving payment is to save and then invest. Once I have allotted funds for saving and investing, I start paying my bills. I do not directly pay myself by buying something or enjoying food in a restaurant, however, saving and investing is also for myself, so I do pay myself first.

 

[Frank]

My first priority after receiving payment is to save and then invest. Once I have allotted funds for saving and investing, I start paying my bills. I do not directly pay myself by buying something or enjoying food in a restaurant, however, saving and investing is also for myself, so I do pay myself first.

Spending is always a two-way thing. Just like you said, investing first is the key thing to do instead of trying to spend more by eating in a restaurant. Of what use is it going to be? Why would you want to go ahead to finish all you've been paid instead of saving for the future? This is the question that I ask when I see people spending lavishly.

 

[Heatman]

My first priority after receiving payment is to save and then invest. Once I have allotted funds for saving and investing, I start paying my bills. I do not directly pay myself by buying something or enjoying food in a restaurant, however, saving and investing is also for myself, so I do pay myself first.

They are the responsibilities and bills that drove us to working or start a business in the first place. It's why we make money to take care of them. It's when they are taken care of, then one can invest to have more means of making more money in order to get better financially.