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Pays Yourself First, Budget?

Started by Nolan R.
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Elena B.

Building a pay yourself first budget involves having savings as a fixed bill in your budget. The process is easier if you can automate your savings through direct deposit, reoccurring transfers, or payroll deduction for retirement savings. My savings are automated as my employer allows quite a few direct deposit accounts. I also have separate accounts for each of my savings categories such as my emergency fund, saving funds, sinking funds.

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De Laine R.

True. As soon as my check hits, I transfer the funds into savings. It feels so good to pay myself first rather than waiting to give myself what’s left, which is usually very little.

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Francia P.

I've entered a 52 week Challenge so I can pay myself first and I have an accountability partner to keep me straight. 2021 is my best year yet!

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Kimberly D.

I love this idea! I just added my savings to my direct deposit. I can't wait to see how much savings we will have at the end of the year.

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Erika O.

Yes, it was hard to do at first but have started to pay myself first!

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Joselyn M.

When I setup the reverse budgeting method (direct deposit from my paycheck) my spending immediately went down. I realized I didn’t have as much to spend as I did previously.

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Manuel M.

Yes, setting a budget to pay yourself first by transferring a certain amount from your direct deposit pay to your mutual fund or savings account every pay day teaches you to save and have your money grow.

Deleted user

Hello! Paying yourself first and having a budget are key to a secure financial future. 💯

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Jacqueline G.

My goal is to pay me back 45,000 because I lost part of my income this month.

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Tishyra A.

I always pay myself first. I cant see myself just working to pay the bills. I work for me.

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