Quote for the day

Save first then spend

This is a really great quote on why it’s important to save first and then spend what’s left. Doing it the other way around seldom works as we’re more easily tempted to spend than we are to save.

Save first then spend later

Don’t save what is left after spending; but spend what is left after saving!

Warren Buffet

So true this one – it’s all about changing the “cycle”. So instead of spending money left, right & center and then hoping that there’s something left to save; rather first save the amount you want, and then spend the rest. See this in action when you start looking at your cash flow!

If you’re not sure of how to change the cycle, or even where to begin; why not start with a simple budget? This will give you a good overview of your income and expenses and help you to start making better spending decisions.

It’s not always about spending less or being more struct with yourself. It’s also about finding out how what makes you tick and how your relationship with money shapes decisions you make. If you’re easily tempted and love spending money then you can very easily put small measures in place to help you change that habit. And of course, once you know that you are saving some money, you can go ahead and spend the rest.

If you want to make something happen, then you must just start! So why not start now by working out how much you want to save from your next pay check… and then do it!

Instead of trying to save what is left after all your spending, make the decision to save money and then pay yourself first.

Please share your thoughts