25 Feb The Most Important Person in Your Financial Life
I’ve blogged about important finance tips for marriage, for couples, and for families, but it’s been said that the most important relationship you will have in your life is the one you have with yourself.
Taking control of your finances is one of the most empowering things you can do for yourself. Furthermore, attending to your financial health is a critical part of self-care. You invest in your physical and mental health by eating well, getting enough exercise, and taking time to pursue pasttimes you love; do you work on your financial wellness in the same way? When you invest in your financial health—by paying yourself first, living below your means and investing—you can reap the rewards of a rich life.
While I’m all for indulging in the occasional (budget-friendly) treat, remember that investing is the indulgence that keeps on giving. Investing is an essential tool that will allow your wealth to grow. So make sure that you are paying yourself first from every paycheck – that is, transferring money proactively, as soon as your paycheck hits your account, to your savings and investment accounts (instead of waiting until the end of the month to save whatever is “left over”). And the next time you’re thinking of buying the latest “it” handbag or newest tech toy, pause to consider paying yourself that same amount. The material things we buy to reward ourselves can’t reward us in the form of a bright financial future. Investing, on the other hand, means that your hard-earned money can work just as hard for you. Aren’t you worth it?