Millionaire Secrets

It's usually the little things that make the biggest difference in our lives.  A good meal shared with a good friend.  A glass of wine after a hard day.  A bubble bath with a little pinterest action.  OK...so I'm speakin' chick right now...I think you get the gist though. 

In his new book "The Automatic Millionaire", David Bach recounts lessons learned from today's self made millionaires and one recurring theme emerged.  Pay.  Yourself.  First.

Most of us get paid and start deciding what and how much to pay to bill collectors and creditors.  Rent, utilities, cell phone, internet, car payment, mortgage, the list is endless, isn't it?  We devise intricate budgets to determine how to get everyone paid and have a little left over at the end of each month or each year to set aside in a rainy day savings account.  This mindset is absolutely, unequivocally financially backwards and is a surefire way to keep you controlled by your finances instead of YOU controlling your finances. 

Bach writes, "Nothing will help you achieve wealth until you decide to pay yourself first … [It] means just what it says. When you earn a dollar, the first person you pay is you. Most people don’t do this.”  Don't know where or how to start?  Don't overthink it...JUST START!

1)  Take it off the top.  Have your employer directly deposit 1%, 2%, 5%...you decide what you are comfortable with...into a separate account that you don't see and you don't touch!

2)  Consider a pre-tax retirement instrument like a 401(k) or Traditional IRA instead of a traditional savings account.  These accounts help to hold you accountable and will deter you from sneaking money out of the account on a whim.

3)  Continue to push yourself until you reach that 20% mark.  This is you target percentage!

Having financial freedom is yours to take.  It's just a decision away...with a healthy dose of self discipline, of course!

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