Are you Paying Yourself First [Always]? | Phil Town

How can you start to pay yourself? I would love to hear your ideas folks! For more investing knowledge, start my free online course: http://bit.ly/Free-Investing-Course

Here is the thing about paying. Paying will mean, nada, zero absolutely nothing, when all of Gods free gifts are used up. The wisdom of man is foolishness to God. Gods wisdom is wise. He says ask, and receive. We are all connected. All need to do that, not trembling in fear. Faithless devils will tremble, before Christs teachings.

Pay yourself second. Tithe first.

try to do 70% folks you can do it!!!

Thank you

I own my home, never made a car payment in my life and do not owe money to anyone.I can spend most of my income anyway and in any order I please. However, I have never viewed anything, especially money, as mine. I focus on what is important first, not self. I give the Lord the first fruits.

I spend money on things from their perspective pockets and if I do not have the money for "BigMac", i definitely do not have money for a BigMac even though other pockets may be loaded with cash and so lately , my one pocket of entertainment has finished and since it's month end ,I haven't loaded it and I feel like I haven't paid myself or made myself happy even though I have money.I have the urge and desire of spending money anyhow right now and I am not doing that.

When you get too inclined to the idea of paying yourself ,you feel obliged to doing it even though at first you might not have been aware of it but then I suppose,"paying yourself"means different things to different people and so again,I contradict myself that you could never pay yourself too much than you have ever in the past after getting to know about "paying yourself"

In summary ?pay yourself and let me go and get a bigMac?

10% is pretty low. I would invest everything that is not a basic necessity. Only spend money on food, water, shelter, and electricity. Everything else you make should be saved and invested.

Thank you Phil. I really appreciate and value your instruction. I ran into your channel only recently and it’s helped me tighten some bolts. I’m on the right track but you’ve helped massively.

Money can be used to buy things such as food

great

I'm paying myself first 20%, and investing 40% and the other 40% is for the bills.

Currently have 10% going to retirement accounts (with an additional 4% company match), 3% into HSA, and a completely unstructured sum saved on top of that. Any tips on how to deal with that extra income, when the income stream is highly variable?

This strategy is so good I've been doing it for 3 years without knowing it had a name.

I figured out I need to put 20%-25% of my paycheck as "lost money", so I could manage better my spending.

Respect Mr Phil !!!! Valuable for all !

I have a question, If i am a small business owner , sounds i take a percentage of the profit to pay for investments
Or
should I keep paying myself a dividend per week and then take a let's say 10% to invest ?

Companie profit would give access to bigger investment
Or
Keep going whit a 10 % of my devident ?

Also what program do you guys use to invest ? Is there a app, site or bank ?

My friends see me on my iPad or my iPhone with my headphones in watching these videos when we hanging out, they always saying something is wrong with me why am so concerned about money one even say I love money too much, I always tell them am learning cause I’ve never learn these kinda stuff in school

26% savings with 6.5% yield…36 yrs old

This is the point where you start to make fun of people that initially made fun of you when you did not have that sport car they have.

thank you Phil. I knew the concept but never really understood how to do it.
After year of tracking I have finally gotten to the point where I save 30-40%.
With your advice I'm going to set 10% as a MINIMUM. If I ever get fired I can still maintain that. And for now everything above 10% is just a great bonus.
thanks again Phil. great lesson!

Hope you are well, because you look really unwell mate. Thanks for your great input into financial advise.

I pay myself 15%

I am paying myself 50%, but that doesn't work out each month..

Sooo glad I found your channel! Thank you! Sending hugs from NYC xoxox

I do pay myself 1st by putting 10% of my salary in another bank that I only use in emergencies though 2 b honest I did spend the emergency fund on an investment & 2 b honest it wasn't an emergency I was just a little short on cash & it sounded like a better idea in my head than taking a loan do u think I did the right thing Phil❓

2:53 lol

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Do you know the "AFP" in Chile?

Your videos should basically be part of high school education system everywhere or something like that. Basically it is so easy and so importent. Thx for your work.

Ahh pay myself first the pipe dream that 10% is the credit card interest. Once i clear the card off and a few other debts i can start 2020 paying myself at least 15% first and wouldn't even notice

I have to start paying myself first. 10% is a good start

I think I'm overpaid……

I pay myself so much I struggle to find rent payments. But my networth is huge though

I have been working with a smaller pay check after my investments are taken out for my 401k and separate stock purchase And I started a stash account a few months ago. Even if I am broke after paying everything I'm technically not broke that's a great feeling.

Is funny and sad.
Everything you saying i know and normaly i do but, because we live on the world as we live is more like that my ansiety will get the best out of it and i will buy something expensive not to show to people but to live the experiences that come with…

Thank you, Phil, for the reminder! I am going to add more to my "Berky" account! Lol!

Bills get paid first. Period. Retirement? Lol!!

I pay myself first 30%
Wish I started at 20 years old

You should have more views!

I got a better idea. How about paying it forward to me? Haha.

Great video. Sadly I have never paid myself first. I always paid my bill first. As of today that all changes.

Hi Mr. Phil. Great advice!!!! I started paying myself 6 years ago and this absolutely change my life. I read the book “the richest man in babylon” an incredible book, and i learned this principle. You are doing a tremendous job. Thanks

Federal employee: traditional or roth TSP ??? Thanks for your help !

What should my saving/investment ratio be?

80 years old at Walmart LOL