Pay Yourself First Ep # 2/9 Video
What does it mean to Pay Yourself First? Why is it important to pay yourself first? How to pay yourself first? And finally, how much to pay yourself first?
This video will explore these questions in depth. This video will firstly define Pay Yourself First. Then it will describe in detail the Pay Yourself First strategy.
When people start to have a steady income, they immediately increase their expenses. Soon they get entrapped in the Rat Race of “Get up, go for job and pay bills” regardless of the amount of money they earn every month.
Firstly, they work to materialize the dreams of their employer. Secondly, they work for the government by paying taxes. Thirdly, they work for the bank which owns their mortgages and credit card loans. They work for everyone else. Then they put a little, if any, money in the asset column. That is precisely the reason they remain a struggling middle class. But, Mr. Smart expects you to break these shackles and seek financial freedom. So, you should rather be paying yourself first by putting a sizeable part of your earning in the asset column and spend what is left. The Pay Yourself First concept is of fundamental importance in your way to getting rich. The two characters Rich Dad and Poor Dad in Robert's Rich Dad Poor Dad book make Pay Yourself First meaning clearly in different financial and social settings.
That is the Pay Yourself First definition. Watch the video to know more.
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💡10 Highly Recommended Books
1) "Rich Dad Poor Dad" by Robert Kiyosaki: https://amzn.to/2WTmCYu
2) “Rich Dad's Cashflow Quadrant” by Robert Kiyosaki: https://amzn.to/36LAWTX
3) “Fake Money, Fake Teachers, Fake Assets” by Robert Kiyosaki: https://amzn.to/2SbYjAx
4) “Increase Your Financial IQ” by Robert Kiyosaki: https://amzn.to/3aY7Zrb
5) “Before You Quit Your Job” by Robert Kiyosaki: https://amzn.to/36PRZUX
6) “The Real Book of Real Estate” by Robert Kiyosaki: https://amzn.to/37Qt70x
7) “Rich Dad's Guide to Investing” by Robert Kiyosaki: https://amzn.to/2RMRyWW
8) "The 4-Hour Workweek" by Tim Ferriss: https://amzn.to/2nrViAE
9) "The Lean Startup" by Eric Ries: https://amzn.to/2o9tiSG
10) "Eat That Frog: 21 Great Ways to Stop Procrastinating" by Brain Tracy: https://amzn.to/2mBY6uI
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💡 Recommended Videos:
1. What is Poverty & Poverty Line? What causes Poverty? Ep # 1/9
https://youtu.be/qc75P3iSIdE
2. Why you should watch Rich Dad Poor Dad Series?
https://youtu.be/Z4ZGP5yS1vo
3. How to make money WITHOUT working 2020? LEARN how to make money WORK FOR YOU!
Ep # 3/9
https://youtu.be/GU_vsRG5OyM
4. What is Financial Literacy? Why Financial Education is important? Ep # 4/9
https://youtu.be/SVDRizGKBAU
5. Mind Your Own Business in Personal Finance! Learn how to make money WORK FOR YOU.
Ep # 5/9
https://youtu.be/1mJd9umfGvk
6. US Income Tax History | History of Taxes in the United States Ep # 6/9
https://youtu.be/5ivSdHggoSw
7. How to AVOID paying high taxes? | TAX LOOPHOLES for the Rich | Examples Ep # 7/9
https://youtu.be/MCDT66l22-s
8. Adopt Pay Yourself FIRST strategy & Learn How to Make MONEY Work for YOU | Financial
Education 8/9
https://youtu.be/zMVxkbDgqJs
9. Rich Dad Poor Dad by Robert Kiyosaki | Summary
https://youtu.be/pIbeOF0PV5g
10. How to Get Rich? Learn from Robert Kiyosaki's Biography | Rich Dad Poor Dad
https://youtu.be/Yf90Cq3jNTI
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