How To Manage Your Money? Pay Yourself First, Forget Everyone Else! THINK FINANCIAL FREEDOM!

In this blog post, you are going to learn to pay yourself first, and how you can manage your money. You may immediately thinking, who are you to tell me how to manage my money? And who are you to tell me to pay myself first? But hear me out. Kev went to the Millionaire seminar back in 2016, and it was a powerful seminar. And the first thing that they got to, was the money mindset, and everything around money. They first asked everyone, "who here pays themselves first?" You will work incredibly hard day by day, to then just pay off the taxes, the groceries, the milk - you will pay everyone first, to then just scrape all the stuff out the bottom. How great would it be to first pay yourself? People are always paying other people first. How about you take 10% of your income, and you put it into a financial freedom account? A financial account which is yours forever - you never let go of that money. It sounds good, right? In this blog post you are going to learn exactly what Kev has learnt, and the insight which Kev had received from the Millionaire seminar, back in 2016.

Financial Freedom Account

How great would it be to put 10% of your hard earned money into a financial freedom account, then put another 10% into a long term saving account. You may be wondering what this is, and what the difference is. The FFA, the financial freedom account, you never spend that money. Over time, that will make you rich.

Learn more about financial freedom here:

https://www.youtube.com/watch?v=M0w6VTtC51M&t=12s

The Long Term Saving Account

The long term saving account, the LTS, that is going to be the big things you want throughout the years, maybe your holidays, your cars, or maybe your laptops. Then you may be thinking what you can and can't afford. It is all well and good having those credit card bills, and those credit card balances and overdrafts, but let's think for a second what you can actually afford.

Education Account

How about you put 10% in an education account. An education account is an account where you will look to purchase things, that is going to improve your life in some way. This may not be for everyone, but if you are into self development, and you are into improving yourself, whether that is reading books, going through training programmes, or educating yourself in anyway, then how great would it be to have an account dedicated to make your life better?

That is now 30% gone. You have your financial freedom, your long term savings, and your education. Everything is to do with you. You are paying yourself first. This sounds too good to be true.

Play Account

Then, how about you take another 10% and you split that up into 5% play. Everyone loves play. Go and purchase the things that you want to purchase, there and then. You get paid, you spend that there and then. You want a new coat? You want a new pair of jeans? You want a new console? You want a new pair of shoes? Whatever it is, pay yourself 5%, and go treat yourself.

Contribution 

Then, how about the other 5% to other people, to contribution, to people who need it more than you. That is now 40% of income that you have on yourself.

Contribution is a brilliant way to make you feel fulfilled, and make you feel like you are making a difference in people's lives.

You Now Have 60% Left. So What is This For?

 This is now your necessity account. These are your expenses, your rent, your food, your bills, your utilities. Most of you will be thinking, if only your bills were at 60%, or if only it was that easy. But let's flip the mindset a little bit. Because as soon as Kev started to think differently, it made a huge impact and difference in Kev's life, because he started to think about how he needs to pay himself first. If you are an entrepreneur, and a businessman, or a business-minded person, you may start thinking like this, like Kev has done. You want to pay everyone, you want to make things work, and you would rather starve yourself than anyone else. Get in the mindset of paying yourself first, be selfish, think about your financial freedom, think about your long term savings, think about your education, think about your play; go out and spend money. No matter what money personality you are, whether you are a spender, a saver, whether you ignore anything to do with money. There are people out there who are willing to just ignore it, and live life ignoring anything to do with money. But remember, always pay yourself first. Manage your money first, because when you do, your life will change.

Learn secrets about money here:

https://www.youtube.com/watch?v=mzLm0ZMhSsU&t=630s

If you would like to learn more handling your finances, click here: https://porch.com/advice/your-finances-not-the-monster-under-the-bed-you-might-think

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