This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
And Most People Never Will
Most people don’t pay themselves first. Do you know why?
Most people are in the habit of paying every one else, first.
We have all heard people (maybe even ourselves) complain about how they never have money left over for themselves. Well, there is only one reason this happens for a majority of people. But first, let’s dive into a list of things most of us pay before paying ourselves:
Bills
Mortgage/Rent
Eating Out
Shopping
Entertainment
Travel
Fees
Miscellaneous Items
Other Spending
Do you get the picture now?
If we are always paying for these things, first, how can we ever expect to have anything but a nickel leftover for ourselves (and this goes for people with both high and low incomes)?
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How many of you reading this today make it a habit to do one or more of the following actions:
Set up a recurring transfer to your ROTH IRA
Set up a recurring transfer to your 401K before you get paid
Set up a recurring transfer to your investment account(s)
Set up a recurring transfer to your savings account
Set up a recurring transfer to your emergency fund
If you currently aren’t doing any of these things, don’t fret, you can start today. But understand and realize that if you don’t start, you choose to live a financially irresponsible and unhealthy lifestyle, which will most likely catch up to you.
All you have to start doing to enter a more prosperous realm and lifestyle is start paying yourself first; this is step one to building wealth.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.