As the new year starts you may have given some thought to creating some good habits for 2014.
Here’s a suggestion…
I’ve written to you about this before, but I believe it’s a message worth repeating.
My job as a loan officer allows me to have a unique perspective into people’s lives.
I can see how much money people make, and how much money they have in the bank.
I do loans for people who make less than $20,000 a year, and I do loans for people who make well over $250,000 a year. …It doesn’t matter if you make a lot of money, or very little money – there is a common problem that I see again and again…
…No savings.
This isn’t true in every case, but I see it very often.
People tend to spend what they make. …even the borrowers I have who make a lot of money don’t tend to save their money.
My advice to you?… Pay yourself first.
Open a savings account, and before you pay any other bills – pay yourself first. …pay it just like it was a car payment or an electric bill. …Make it a percentage (such as 5% or 10%) of your total income.
Pay it every month. …it will build up faster than you think.
There is a special comfort that you will gain when you see that you have a comfortable cushion in the bank. …I want that feeling for you.
This feeling of comfort will percolate into other areas of your life – less fights about money – less stress at work – happy mom and dad makes for happy kids, etc.
Have a good day today! …and thanks for reading.
Brett
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