People usually view money the wrong way by looking at the money they receive as a means of paying others, such as bills and expenses. However, in order to set yourself up for success, paying yourself and setting up an investment strategy should be your first priority. http://bit.ly/2DA7s1j

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45 COMMENTS

  1. 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.

  2. 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.

  3. 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?

  4. 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.

  5. 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.

  6. 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?

  7. 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 ?

  8. 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

  9. 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!

  10. 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❓

  11. 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.

  12. 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

  13. 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.

  14. 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…

  15. 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

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