The One Thing I Do Every Pay Day To Be Successful With Money:

A few months ago, I read a book many may have heard of called “The richest man in Babylon”. The main lesson I carried from this book is to always save a minimum of 10% off the top of each paycheck. This information sounds simple but it was actually life changing here is why:

The reason why this changes the financial game is because you can consistently save money without really even trying, this term is called “pay yourself first”. The way I look at this is that the 10% is just an extra tax so I don’t even really think about it I just automatically have it sent to a high yield savings account for investing, emergencies, or really anything I want. I think all of us can at least do that.

I know some people may think 10% isn’t very much at the time, but think about if you had started saving 10% since you started working anywhere from ages 15–17 and didn’t touch the money. Just by the thought of this, it makes me cringe just how much I would currently have had I followed this advice when I started working at 16, and I am currently 24.

I think this idea would even work well for older people or no matter how old you are because at some point that extra 10% “tax” you took off the top of each paycheck is going to help you whether it’s a down payment, for emergencies, for travel, or my favorite, a great investment opportunity that comes your way.