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AskABlkProfessional
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Your Questions Finally Answered As They Relate To A Young Black
Professional
Powerful Q&A available in only one language: Yours
Your Quotes:
"Dog you are like the black 'Ask Jeeves' THANKS cuzzo!"
"No one has EVER been able to explain that to me in terms I
can comprehend --MUAH"
Some of my favorites:
Q: What do they mean by "pay yourself first" as far as
saving money??? How in the h can paying myself save me
money?!?
A: Aight I know it sounds
crazy, but yes, you can save money and/or even get rich by paying
yourself first. Now when I say pay yourself first I'm
not talkin bout getting paid on Friday and putting aside a couple
hundred to get a new fit, go to the club, or catch a flick...homey
homey that leads to eggs and balogne! [and besides...that's paying
the mall, the movies and the club first] The idea is to take that
same $50 - 200 you would have tricked off and purchase a
real asset [something that makes you
money instead of costing you money]. Why it works:
As of today you end up spending all your money anyway before the
next payday [in other words living check to check] BUT you still
make sure your bills get paid and you even seem to find enough
money to go out Fri and/or Sat [now Sunday too... from what I hear
on the radio] The problem with that is you pay your bills first and
trick off everything that's left over because [I know, I know]
You work
hard for your money and deserve something new. When you pay
yourself first it ain't like your old habits just die off all of a
sudden, you just made a conscious decision RIGHT WHEN YOU GOT PAID
to take a few dollars and put it somewhere smart [not in the
mattress, unless a fairy crackhead breaks in your house and adds 6%
of your stash TO your stash....monthly] somewhere like a Money
Market Account; A Certificate of Deposit (CD); Your own 401(k) [If
you haven't started your 401(k) get up from your desk right now,
jump straight up in the air and kick your legs back until the back
of your feet hit your backside with fairly powerful blow, sit back
down in your chair and call your HR department and tell them you
would like to start your 401(k) immediately]. You still end up
paying all your bills and you still end up tricking off what was
left over [because you work hard and deserve something new!] BUT
the difference is you had less money to trick off! [So you went out
Fri & Sat and stayed home Sunday night; You decided you
reeeeeally don't need to download that new Plies ringtone; You
bought a $15 case of beer and watched the game on that new plasma
screen tv you bought [that you still trying to pay off] instead of
watching the same game on the same plasma tv at the local sports
bar on $9
beer Sundays!] The point is your life[style] didn't really
change that much and you still end up broke until next payday, but
are you really broke with money in an asset that is constantly
working to make you more money?ÂÂ&n bsp; No,
because each and every one of those dollars is an employee of yours
working 24/7/365 no holidays and no breaks to make you
rich.ÂÂ&nb sp; End Result: You "Got Money in the
Bank"; You spend less; And most importantly making money this way
excites you and makes you aware of how you use all those little
employees.  Pr etty soon you start buying
bigger investments [and bigger toys] because let's face it, "Your
MONEY works hard for you and you deserve something new!!" *Smile*
And all you had to do was pay yourself
firstÂÂ&nb sp; Be Easy Man! friends (71)favorite pages
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