The general mistake most people make is that they believe their paycheck will come forever and when they start earning huge salaries they keep buying everything that they want, don't get me wrong because as human beings, we deserve little enjoyment sometimes but we must also plan for the future in the process.
One thing we mostly don't get is that when we keep buying and buying, especially liabilities we are not building anything for ourselves instead we are making someone else rich. We keep investing in other people's products, and other people's futures without investing in ourselves and also paying ourselves.
How to pay ourselves
When you spend all the money that you have on another man's products or save with the mindset that you want to also spend you are not paying yourself or investing in your future you are simply helping another man to grow but we can simply pay ourselves by setting aside some amount of money into an account and invest it later.
A common mistake in following this process is that we don't pay ourselves first, most people pay their bills first before paying themselves and this is wrong because there are bills we are paying now that we can do without but because the money keeps coming we choose to keep paying meaning while should have diverted the money into a project.
It grows
When you pay yourself by setting aside for investment the remaining funds will be used wisely and all the unnecessary bills or bills that you can still manage to do without will be cut off and from there you will adjust to new life and you will grow from there. You will be surprised how much will be able to compound and you must always plan the long game.
More from dwayne16
Instinct and knowledge the polar in making a financial decision
Greed: the unsatisfied hunger for money
Is it stupidity or manipulation
Analyzing the market is good for everyone in crypto.
Invest in what you understand.
Thanks for your time.
