Motivational Power Quote
Pay Yourself First
“The philosophy of the rich versus the
poor is this.
The rich invest their money and spend
what is left,
the poor spends their money and invest
what is left.”
Jim Rohn, Author, Self – Help Expert
As I see it . . . . . . .
Pay yourself first
It’s not in the amount of the money you
make it’s a matter of the philosophy that you live your life by.
With children we teach them to save
their pennies, and as time goes by they create a habit of saving money.
Some people can save only dollars, while
others will save hundreds and some will be able to saves thousands of dollars.
It’s not the amount that important, it’s the habit of paying yourself first and
investing the money for you and your family’s future.
I would like to share a story with you
about a real estate professional that I know very well.
Since she started in real estate she had
goals and was committed to invest her money. In her early years she worked at a
survival level but even at that level she had a goal. She explained to me that
with her financial goals she budgeted 5% of every closing to her investment
account.
She when on to explain that with her
goals that once she get past her break even number she committed 10% of the income to her
invest account.
As her career stabilized she continued
to use the ladder approach to investing her money.
Today she invests 10% of her monthly
breakeven income. Once she get past her breakeven income she invests 25% of her
income until it plateaus at a fix level and from that point she invests 100% of
her income.
What start out by investing 5% of her
incomes has turned into financial security. It’s not how much you invest that
matters it’s the habit of investing that’s important.
Pay yourself pay yourself first and you will
invest in yourself and your future.
©2011 Lou Ludwig, Sales and Management
Consultant, Success Coach, Speaker, Trainer and Author