Build Wealth in One Easy Step

Did you know that becoming wealthy isn’t actually as hard as it seems? This may sound like a silly statement but it’s true. Despite what the newspapers believe, being wealthy starts with a simple action. This action isn’t even that challenging and doesn’t take years to accomplish. To become wealthy, you have to pay yourself first.

What is paying yourself first?

Paying yourself first is really as easy as it sounds: pay yourself first. When you get your paycheck, what do you do with it? Many people will begin with paying bills such as their rent and their car loan and then move on to setting aside money for food and other necessities. By the end, if they're lucky they may only have a little bit of money left over for savings. This process leaves little to no money for saving for the future and prevents someone from ever building a large savings.

So what should you do?

Each time you get your paycheck, begin with setting aside money for yourself. This money will go directly to your savings. From there you should set aside some money to invest and after these two steps are completed, then you move on to the rest of the bills you have.

By paying yourself first, you are prioritizing yourself. This is not a selfish action, rather it is one that actually pays off big time for yourself and those around you in the long run. This action will allow you to know where your money is going and not leave you high to dry at the end of the month when you run out of money.

Set the desired amount, pay yourself that amount first, and you’ll reap the benefits. You’ve got this!