This is optimal finance daily episode 1198. Is it selfish to pay yourself first?

By Joel of 5am Joel.com.

And I'm Dan, I'm your host and this is where I read to you from some of the best blogs on personal finance

every single day, including weekends and holidays.

And for now, let's get right to it, as we continue optimizing your life.

Is it selfish to pay yourself first by Joel of 5am Joel.com When you hear pay yourself first, what do you think of?

It sounds like something a rich and greedy person would say.

Let's break it down.

Pay equals something money related. Your self first equals something

selfish, the complete opposite of what our parents taught us. Okay now let's see

what happens if we include the words in a full sentence. Pay yourself first so you can

help more people later. Pay yourself first a little bit and then pay others a lot.

Your family will never starve if you pay yourself first. Giving becomes easier when you pay

yourself first. Hmm, doesn't sound so selfish anymore. Maybe the people preaching this are

onto something.

You may be familiar with the pay yourself first rule for saving money and growing wealth.

I first read it in the old book, The Richest Man in Babylon.

The book tells a story that makes you rethink your priorities

when distributing your hard-earned money. Most people out there are living on a

tight budget. They have their income, minus all their expenses, and

afterward they want to save every cent possible with what's left over.

The problem is, what's left over?

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