Pay Yourself First

You have probably heard this before but what does it mean?

It means before you spend any of your money you need to save some of it.

The goal is to save 10-15% of your income.

Actually the first 10% is for charity and then you pay yourself.

So $2000 income.
$200 charity.
$1800 left.
$180 a month to invest at 10% rate of return.
At the end of 35 years you will have $683,394.85.
Yes, that's over six hundred eighty-three thousand dollars.
Here is the calculator.

So before you do anything else, pay yourself first.