Pay yourself first!
I mean, if you’re struggling with paying the bills and living month to month would $100 really make a big difference in your life? Isn’t all the money I make mine? Don’t I already pay myself first?
NOPE! Most of us pay everyone else first. We pay bills, taxes, gas stations, grocery stores, etc. Sure, these bill go to keep us fed, clothed, housed, mobile, etc. but it doesn’t really help us plan for our future. We (most people) don’t put away money in a retirement account or even create a stream of income that pays us every month…into our retirement years. What are we doing (besides paying into Social Security) to make sure that when we are no longer able to work that we will be able to enjoy the rest of our days living the lives we dreamed of?
“Give a man a fish, he’ll eat for a day; teach him how to fish, and he’ll eat for a lifetime,”
Before I became an Entrepreneur, and changed my mindset, I would’ve taken $100 and spent it on food, gas a bill…maybe even on entertainment. When you are struggling financially you aren’t always thinking straight – or smart. When I worked for a large company in my early 20’s I did make sure to have a percentage of my paycheck go to my 401k monthly. If I hadn’t of done that I probably would’ve spent the money and would never have put it away for myself. That 401k is long gone as I needed it during a very rainy time so what happens to me and my family if another tough time presents itself?
We’ve been broke, dead broke. Like the last $20 you have has to last you an entire week…or two – broke. It’s stressful. It’s humbling. It’s defeating. It’s hard.
But… What if you took your last $100 and did something with it? Something that others think is crazy, reckless or stupid even?
Like Invest it in yourself!
What if you took that $100 you had planned on using to go to the movies, for a night out or for paying part of a bill (no bill costs less than $100 anymore right?) and instead you INVEST in yourself!
Pay Yourself first!
One of the oldest rules of personal finance is to simply do this but…
What does “pay yourself first” even mean? It means, invest in YOUR future now before you pay anyone else. Before you pay your bills, before you buy groceries, before you do anything else, set aside a portion of your income to save or, in this case – Put $100 into starting your own business! To us, a 401k doesn’t even make sense.
Why not create a monthly stream of business that pays us more and more each month, for the rest of our lives and…we can pass it onto our children?
But it’s hard to part with that $100 isn’t it? That money could be used someplace else. You could pay the phone bill, could pay down debt, could buy a new DVD player. You’ve tried once or twice in the past, but it’s so easy to forget. You don’t keep a budget, so when payday rolls around, the money just finds its way elsewhere and you stay on the same path of just barely getting by.
But, WHAT IF?
Take the chance to building something that will pay you back? Don’t get a 2nd or 3rd Job. Build your own business. Work on your own business that will pay you back commissions every month. Build a team and help them build their own businesses so you can get paid even when you are sick, taking the day off or even on vacation.
In all honesty – I had no idea that I was an Entrepreneur until I actually became one. Isn’t that weird? I grew into one.
With hard work and concentrated effort you can turn your last $100 into so much more. We did. We were dead broke when we Joined Scentsy. Neither of us will ever be fully able to convey what we went through emotionally and even physically while building our business those first couple of years. Those were some of the most challenging years of our lives but we just knew that we had to make sacrifices to change our future.
You can’t expect to take $100, or any amount really, and put it into a business and expect to change your circumstances without working it. It’s not magic, wishful thinking or hoping and praying that will change your financial future. You can’t just pass out a catalog and make a post on Facebook asking people if they want to have a party and consider that – effort. You can’t be a ‘passive’ business owner. It’s having a plan, putting that plan into action with consistent and smart effort. Getting uncomfortable and stretching yourself and stepping out of your comfort zone that will take that $100 and turn it into wealth.
So, are you ready to Pay yourself first?
Join Scentsy Today!
Shawn & Wendy