PAY YOUR­SELF FIRST

Finweek English Edition - - MONEY -

“If your sav­ings or in­vest­ment strat­egy de­pends on what is left at the end of the month, you may be set­ting your­self up for fail­ure,” Hu­man says. It’s im­por­tant to save and in­vest first, and then en­sure the money you have left can cover the rest of your ex­penses. She says set­ting up a sched­uled monthly trans­fer to a ded­i­cated sav­ings or in­vest­ment ac­count is an easy, free and au­to­matic way to build a healthy bal­ance. SAV­INGS HACK: If you’ve re­cently paid off debt, putting the amount you used to ser­vice your debt monthly into a sav­ings ac­count is an easy way to foster the dis­ci­pline of pay­ing your­self first.

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