How I pay myself first.
I guess everyone heard of the famous adage in Personal Finance and in general for wealth generation that you should "Pay yourself First" that actually I think same what Warren Buffet's says "Don't save what is left after spending; spend what is left after saving." . So friends how do you pay yourself first?
My Strategy with Paycheck.
Before my salary get credited on my bank account, 20% of it automatically get deposited in in EPF (Employee Provident Fund) scheme, that give me interest of 8% yearly on the amount.
I guess it is similar to 401K that exist in USA.
Only issue is that I cannot withdraw EPF money prematurely but if I withdraw at my retirement ,that under the rules will also be tax free.
My Strategy with Blogging.
Whatever I earned with my blogging is never spent for any needs , so it is some kind of one more extra saving for me.
My Strategy with Games.
Oh! yes I play games, and lot of games but only difference is that I play the blockchain games that give me full ownership whatever I purchase in game. I also earn the in game currency of the game that I re invest in game most of the time and sometime I cash out for the tokens.
Increasing the Passive Earnings.
Whatever I earn, I keep stacking it, that in turn increase my curation income that is some kind of passive income. But I purchased some token that give me the dividends and that is truly passive income. Buying the miner token is also is part of this strategy.
What your conclusion.
May be you can say that I am lucky or rich that I am able to do this but truth is that I know few people that used to earn more than me but still some time find it difficult to take care of unexpected expenses.
What exactly you are doing
That is my part of "Paying myself first " but I like to know how you guys "Pay your self first?
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