“First Pay Yourself”- A simple way for become Rich

 

“First Pay Yourself” is a rigorous process as it is for a holy being to do penance, for a student to prepare for a tough exam like the Union Public Service Commission, and to make us struggle relentlessly to survive.

One such middle-class family has to take a step to become wealthy which is called the process of "pay first to yourself".

In today's fast-changing world, how much you know is not important because what you know is becoming increasingly outdated and new methods are emerging in the market.

One of the few formulas for making money in the market is that “We have to work hard to earn money and the harder we work, the more money we will get”. But this method is now out of date, which we can also call the caveman's way.

The conclusion of many books I have read is that "the power of self-discipline" is the greatest strength and paying yourself first is the first step towards your prosperity.

 

If we can't pay ourselves first then we should also give up the dream of getting rich or prosperous.

 

It is also difficult to say that we can become rich only through the process of “pay yourself first” but it can also be an important process.

 

The life of a middle-class family financially starts on one date and ends before the thirty-day, many people come to that family and after doing some work, they take money from that family. Let's go that person can be a teacher, that person can be a doctor, a shopkeeper, your milkman, a newspaperman, and many more.

 

Out of all these people, we have to become ourselves and we have to pay ourselves first for our service. From the below illustration, we understand why middle-class family is not able to pay themselves.

When the middle-class family gets income then it has to spend out of it and its income ends before it reaches the savings column but if that column is changed then to some extent it can move towards becoming wealthy.

The psychology of money says that the more we earn, the more we spend.

 

After the income, if the first payment is made to ourselves, then out of the remaining amount, we can spend our expenses. And that money opens a new avenue of investment for you, be it your own business,

Whether it is an investment in real estate or a share in some other business when the money earned by you and the new money earned by that money, we move forward on the path of wealth continuously through all three, then one day we ourselves "wealth-prosperity".