Have you heard the financial advice to pay yourself first?
Some experts say that before you pay your bills and debts and spend your money, you should put money into savings for yourself. The alternative to this is paying everyone else and then saving whatever is left over. With the second method, you end up living paycheck to paycheck, stressing about finances and not getting a retirement because you never have money saved for emergencies and splurges and long-term needs. When you pay yourself first, you’re putting money into savings and retirement accounts and that money grows over time. Not only does that mean that you have a safety net, but the interest you earn on that money compounds and after decades, you have way more money than you put in. The same goes for your health and well-being. If you spend all your time and energy doing things for other people, how much do you have left in the tank at the end of the day for yourself? Probably not much. Not only is this not good for you in your daily life right now, but in the long-run, you’ll be unwell and unable to fully enjoy the later years of your life. You have to pay yourself first, but with movement, sleep, mindfulness, nourishing foods, and social connection. And that investment compounds over time, meaning you get to enjoy a high quality of life for a long time. Your health is just as valuable an asset as your money, if not more. Health is THE thing that makes everything else possible. You MUST take care of yourself before you take care of others if you want to keep doing it.
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AuthorHi! I'm Elaine and it is my joy to help purpose driven women find harmony between their desire to make a difference in the world and their need to nourish their body, mind, and spirit. Archives
December 2024
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