I learned this principle from reading the great book; “The Richest Man in Babylon”. This principle changed my financial life greatly after I followed it religiously. I made a decision to be putting down something into a separate account, so I can use it to invest in something I had planned to invest in. I called that account “PROJECT ACCOUNT” I started by saving at least $5 dollars every day. But I did it consistently for days. And after 30 days I had $150 bucks just by saving what a lot of you will call small. I left the money in the account and I decided to raise the bar. This time I decided to save $10 bucks on a daily basis. And after 30 days I got $300 bucks plus the $150 bucks I got for the previous month. I had a total of $450 bucks.
The Next month I raised the bar again, this time for $25 bucks. Truth be told, it was not easy for me at this stage because back then my business was not doing so well. Nevertheless, it challenged me mentally. Every day I knew that I had to make more than $25 bucks, so I could pay myself first. I managed to do it for twenty days before I moved back to $15 bucks daily. For that 20days, I got $500 bucks. Which raised the money in my account to $950 dollars. And for the next 3 months, I saved $15 bucks religiously and I got a total of $2,300 bucks which was enough to invest in what I wanted to invest in.
After the investment, till date, I have not stopped paying myself first. You may not have the capacity to save $15 dollars daily as I did in the past. But you can start from somewhere.
You can start with as little as $5 bucks daily which will give you $1,825 dollars a year. Believe me, it is better than having nothing in the bank account at the end of the year. A lot of people at the end of every year cannot boost of $200 dollars in their bank account which proves why they are poor.
Take up that challenge now and save something. Contact me through my email to inform me about your success and how it felt to pay yourself first. [email protected]. If I can do it, you can do better.