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Pay before Play

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I pay all my bills in the first week of the month, I know what I have left to work with in case of emergencies, home/car  repairs and other necessities. I can then play with as much as I want. I also don't spend my change.  I save my change and purchase something for myself or husband that we want.  You'd be surprised how much it adds up.

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Gold Conversationalist

Re: Pay before Play

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I've always heard these "money saving gurus" say to always pay yourself first. Doesn't really work that way IRL, though. I guess if you make tons of $$$ it does. My bills are pretty much scattered through the month, and I get paid every two weeks, so I pay 'em as I get 'em. Get that out of the way, then buy gas & groceries. Whatever is left can go into the savings account, but I always hold back some for "me money". Gotta have some fun, right?

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Treasured Social Butterfly

Re: Pay before Play

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I have all paychecks direct deposited into what I'll call an interest paying 'hub' account. From the hub I transfer operating expenses twice a month into a recurring costs distribution account which is kept at the bare minimum. Anything not putting food on the table and gas in the car stays in savings. 401(k) monies are taken out before we see the paycheck, and since the hub pays a lower interest rate, whatever part of the balance is over the minimum (plus a bit of cushion) gets transferred into a higher interest paying account. From there I invest in various banking products, whatever is paying the most for the least.


Do this for one year, and you will see how even relatively small amounts plus interest compounded daily can add up. It may even make a 'pay yourself first' believer out of you. Smiley Happy




"The key to success is to keep growing in all areas of life - mental, emotional, spiritual, as well as physical." Julius Erving
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