Return to Blog

Pay Yourself First

Piggy Bank with savings messageA recent survey by the American Savings Education Council indicated that Americans of all wage levels are having a hard time saving. Its seems that the old saying "you grow into your income" just might be true. The recent study as reported by CNBC shows that 31% of consumers have $0 non-retirement savings.

As adults there are so many things that we are suppose to save for. College, retirement, emergency fund, and other goal oriented funds all while being drawn in by 0% interest impulse offers for glitz and glamour electronics and automobiles. Of course, if your neighbor has one why shouldn't you? You work hard and deserve it. It all seems to make sense at the time, but your putting your family's financial well being in jeopardy with no emergency savings.

We really should be paying ourselves first. Perhaps rather than paying bills first, we focus on giving 10%, saving 10% and then manage the leftovers for living. For some, even this is a challenge, but for high-income earners with no savings this should be a way of life. Most of us want to pay our bills, but giving and saving first we are forced to take care of others and our own future. The desire to get the bills paid will motivate you to solve the remaining financial puzzle, which may involve making different spending choices.

You can view the full article here at CNBC. 

Have more questions? Email me at [email protected] or use the Contact Us page.

Wiser Wealth Management, Inc. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

Happy Birthday to Kylie, our Marketing Assistant! Kylie works hard behind the scenes on our website, podcast, social media, and so much more.

Meet Daphne, our Financial Planning Intern. She is studying Finance at The University of Georgia. We are excited she's joined us for the summer!

Your Medicare premium is affected based on which tax bracket you fall within after age 63. IRMAA is your income-related monthly adjustment amount. Watch today's video to learn more about how IRMAA works. #irmaa #medicare

The big question is, will we have a recession in 2022? Watch this video to find out! #recession2022 #recession

Happy birthday to LJ our Video Production Manager! LJ works behind the scenes producing all of our podcasts and videos that we post every week. 🎉



Client Access

Firm Information

Schedule a Meeting
678-905-4450[email protected]
Google Rating
Based on 71 reviews