To put yourself first is a little controversial. We are not taught that! We feel it is selfish and we feel guilty.

So I have a question, do you pay yourself first?

This starts with a decision to put yourself first. When you fix your finances life becomes easier. You, Money and Life all need to be put first. We see the close correlation of when people’s lives are not working their finances are not working. We are not saying that money solves all of life’s problems, but if you have your finances in order it allows you space to deal with other things more freely as life throws it’s curve balls at you.

THE TALE OF TWO LIVES – Do You Put Yourself First?

Game of Life 1 – Financial Inaction

ACTION: Get paid – Pay everything and everyone else first – pay for rent/mortgage, car, health insurance, your dinners out, your breakfasts and coffees with friends and loved ones, bills, bills and more bills. Basically living pay to pay, on the edge, with no real cash reserves.  What would be the opposite?

 

Game of Life 2 – Financial Action!

ACTION: Get paid – Pay yourself first.
FINANCIAL ACTION:  Save automatically.

Start by building an emergency / cushion account. How much? That depends on what do you need to live on covering all expenses for 3-6 months should you not be able to work or until your insurance cover kicks in (presuming you have income, / trauma cover). Paying for life can be expensive. How much would you need? $10K, $40K, $100K to cover rent/mortgage, car, health insurance, kids school, sports, child care, general bills, dinners out, your weekend breakfast and other outings, subscriptions, takeaways, etc etc. How much is 3 months of living expenses for you?

Having a cushion allows you peace of mind. You are more emotionally stable and if you did happen to need cash for something, there it is, crisis averted.

Which game of life are you currently playing in?

You know my message, it is always, PAY YOURSELF FIRST.

 

Putting yourself first

Top Reasons To Pay Yourself First and Why Automation Is Your Road To Freedom

1. Emergency / Cushion Account

Discipline won’t do it! Things will crop up and you’ll cave. If money is being allocated automatically before you see it, it’s simply not there. You don’t miss it and you learn to live on what comes into your living account. As you grow your cushion account on auto pilot your life becomes more stable, you feel more empowered and you approach life from a more balanced perspective. So when an unexpected bill pops up or something breaks down you do not greet it from fear and reaction.

2. Dreams / Wants Account

You buy your dreams. – saving for something/s you REALLY want! This is your life enjoyment account.

How long do you need to save for it /them? Having a clear plan and actively working that plan will see your dream/s realised faster.

3. Long Term / Investment Account

The value of long term saving. It’s your freedom account!

Saving becomes a habit. Saving in this way can be for investing, saving for a deposit for a property – home or investment, etc. Automating these forms of savings removes the emotion and realises your dream faster.

4. Make Money While You Are Sleeping

It is wise to have your money invested to grow and have it working for you?

Money serves you. You want automatic dividends, multiple forms of income and investments. Work hard to get it set up initially, then let it work for you. This is building wealth the smart way.

Why have an emergency / cushion, a wants / dreams, a long term saving / investment account?

All of these accounts are for different areas of your life. Emergency / cushion for the unexpected. Wants / dreams are for the enjoyment of life and the reason and reward for why you work so hard. The long term saving / investment account is for your freedom. It’s all about having your money work for you.

These THREE accounts keep you balanced, inspired to get up every day and as they grow, you just get to live more fully, on your terms! For example, when an unexpected expense appears, instead if going into panic, fear and reaction you simply solve the problem and move on. We have all been there at some stage of our life.

5. Be a Real Estate Owner

HINT: As soon as possible! It always appreciates. (Unless bought in boom/bust economies – eg, mining towns, they are more volatile).

If you rent, rent always goes up. As soon as you can get out of renting and buy (which is another form of paying yourself first!) It’s the fastest way to contribute to being financially free. The tip here is to own assets to eventually have NO debt. That way people are paying your living and holiday expenses for you.

6. Investing

Own 2-3 properties using other people’s money to buy them. Later you’ll have enough cashflow to give you income for the rest of your life.

 

Put Yourself first – Remove the uncertainty with good advice

Here’s what I get to do for you. If you’ve NOT got things done in your financial life, what are you waiting for? It really is time make the decision to put yourself first.
Will done? Insurance covered? Bank accounts accumulating for what is most important to you? Investments growing? Beneficiaries taken care of? Do you have the right financial strategies and the right team to support and guide you?

If your finances are paying you to live, then you have financial certainty.
If not, you are in some sort of pain. And that pain will continue or get worse the longer you stay where you are.

 

MAKING A PLAN

  • What does financial success look like to you?
  • What are your top 3 financial challenges?
  • Where do you want your finances in 3-5 years?
  • Is there an area of your finances that you don’t have a solution for?
  • What is important to you right now?

Get clear on what you would love / want / need
Write it down and then take the necessary actions
Make bullet points – ordered and visible. If it is swirling in your head, it is becoming more and more distorted, confusing (and just hard work).

If something is not working or you’re stuck, it’s time to take action!
The longer you leave it, the more you lose and the more frustrating it becomes.

Free yourself. Life is here to be lived and enjoyed, not to keep you stuck and uninspired.
Get financially fit, and financially free.

If planning your best life is important to you call us on 08 7111 0022, book online here, or email.

Remember, Action is power!
Make the rest of your life the best of your life.

 

If you need help putting yourself first, we are here to help you get clear, to help you implement YOUR goals and aspirations and stay on track. It is a whole life / wealth approach that scores your greatest goals.

If this is for you, reach out to us or simply Book a ‘Whole of Wealth’ Strategy Session here.
And make the rest of your life the best of your life.

 

 

 

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Disclaimer: This article is factual information only. It is not intended to imply any recommendation about any financial advice, product(s) or to constitute tax advice. The information in the article is reliable at the time of distribution, but may not be complete or accurate in the future.

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