Lux Investing

Why is it important to pay yourself fist by investing a small percentage of your income before spending it?

Why is it important to pay yourself fist by investing a small percentage of your income before spending it? Where should you go to get investment advice? When should you start investing?

Public Comments

1. This is a good idea because it avoids the tendency that many people have of "just running out of money." If you pay yourself first, you will always have some savings and you will always have some money to invest. This is a great idea. My wife likes to take our "excess money" and buy shoes and bags. You can imagine that if we have no money left over, she will just ask me to work more. The bags will just get more and more expensive, and the shoes will be better and better brands, and someday, we will wind up poor, with no savings. So what you can do is either fight with your wife, or you can take money out of your paycheck FIRST, before she even sees it. That way she will buy fewer shoes, and you can have more savings and invest that. Personally, I wind up fighting with my wife because she knows how much I earn, but you can be smarter than I am. Pay yourself first. It is the first step to investing.