Paying Yourself First...A Second and Third Look

A second look...

Most if not all financial planning books will advise you to "pay yourself first". Take 10% of whatever you earn and put in in savings.

This is all fine and dandy but it can mean so much more when you use the concept of leverage (ie: good debt) to "pay yourself first".


Our two biggest monthly bill payments in 2005 came from:

1. Mortgage
2. RSP Loans

These two "bills" accounted for about 35-45% of our monthly expenses.

One of these "expenses" is building equity in our home and the other is building our retirement fund.

And while a portion of that money does go to the bank, the interest in both these occurences is offset by:

1) the accumulation of equity in our home
2) the tax refund obtained by investing in an RSP

I think the even more dominant factor of using leverage to "pay yourself first" is the psychology of this type of forced savings plan. Knowing the dangers of consumer debt we are more likely to pay a bill or loan than we would be to pay ourselves first into a savings account.


A Third Look...

I also think the concept of paying yourself first should be used with the concept of "time" as well as money. How often do we just take time out of our day just to have to ourself. Time where we aren't studying, trying to conquer the world or worrying about whether or not our partner is happy. Time to just relax and reflect.

Incidently 10% of a day is 2.4 hours. Kind of puts things in perspective.

This post was written after I read the following post on delicious:
7 Simple Steps To Grow Your Fortune

or was inspired more-so by the comments made by people afterwards, particularly;

So to summarize this long post, we get:

a) dont buy shit.
b) save money.

woaha, thats some revolutionary conclucions right there. now tell me, is it fifth or sixth-graders you write these posts for?


The Response:

Apparently this isn't written for 5th and 6th graders. Consumer debt is a multi-billion dollar industry. Yes, it is simple, but obviously people don't do it.

On that note does anyone know of a mutual fund that invests soley in consumer debt?

posted by aforward @ 3:37 PM,

6 Comments:

At 11:04 AM, Anonymous Anonymous said...

No, but you could just invest in the banks........

 
At 4:47 AM, Blogger bingo said...

bingo

Popular Bingo Websites is a best infor mation sites.........

bingo casino
bingo casinos
bingo online

Find a more than more articles in this site.........

bingo sites
bingo web sites
bingo websites

popularbingowebsites is a simple nice............

internet bingo
online bingo
play bingo

play bingo online
play online bingo
top-bingo-casinos

best-bingo-casinos
bingo patterns
bingo internet-craze

bingo odds
bingo books
bingo statistics

bingo playing in tournaments
play bingo place in gambling mix
online tips on trend spotting

bingo game official rules
bingo some facts
bingo from wizard works

online bingo websites
advantages of internet bingo
play free bingo online

scowling bingo
world tour bingo
bingo casino bonuses

play bingo time
yahoo online bingo game
free bingo yahoo

online-bingo-casinos
bingo bag
bingo daubers

bingo instants
bingo poem
bingo party

bingo special
bingo shutter cards
charity bingo

bingo baby shower
bingo secrets
bingo bonuses

fun bingo
bingo table
bingo sets

bingo-casinos-online
yahoo online bingo game
free bingo yahoo

internet bingo websites
play bingo game
bingo fortune

internet bingo halls
internet-bingo-casinos
bingo supplies

bingo card
bingo casinos
bingo online

bingo sites
bingo web sites
bingo websites

internet bingo
online bingo
play bingo

play bingo online
play online bingo
online bingo game

baby bingo
fortune bingo
advantages bingo

free yahoo bingo
dependable bingo
choctaw bingo

bingo halls
bingo games
traditional bingo

freeonlinebingo
bingo chat
internet bingo game

ban burns bingo halls
bingo profits tumble
bingo library

meadowvale bingo
bridal bingo
internet gala bingo game

online bingo communities
online bingo game
play fun bingo

cyber bingo
techniques for play online
bingo learn

internet bingo sites
internetbingopaper
good bingo

bingo
playbingo
popularbingo
pingo

bingowebsites
bingocasino


hoodia xpf
hoodia xr
hoodiaminutes
lose weight with hoodia

phytopharm hoodia
pure hoodia
pure hoodia diet pill


south african hoodia gordonii
african hoodia cactus

appetite hoodia suppressant
best diet hoodia
best hoodi
buy hoodia
complex gordonii hoodia
hoodia side effects
hoodia and review

day diet hoodia
desert burn hoodia
diet hoodia patch
Erperian Credit
Equfax Credit
bingo
bingo online

credit-reports
credit-reports
credit-reports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
experian-creditreports
jackson
experian-creditreports
experian-creditreports
experian-creditreports

articles
articles
Site
contact-us
3-credit-reports
all credit reports
check credit
check credit history
check credit rating
consumer credit report
credit bureau report
credit check
credit check online
credit history
credit history online
credit rating
credit repair
credit report
credit report online
credit report score
credit reporting
credit reports
credit reports online
credit score
equifax credit report
experian credit report
fix credit report
free credit history
free credit report
free credit reporting
free credit reports
free credit score
full credit report
get credit report
instant credit report
instant credit report online
internet credit report
internet credit reports
online credit check
online credit history
online credit report
online credit reports
trans union credit report

hoodia xpf
hoodia xr
hoodiaminutes
lose weight with hoodia

phytopharm hoodia
pure hoodia
pure hoodia diet pill


south african hoodia gordonii
african hoodia cactus

appetite hoodia suppressant
best diet hoodia
best hoodi
buy hoodia
complex gordonii hoodia
hoodia side effects
hoodia and review

day diet hoodia
desert burn hoodia
diet hoodia patch
best hoodia
best hoodia
best hoodia
best hoodia
best hoodia
best hoodia
best hoodia
best hoodia
best hoodia
best hoodia
buy hoodia
buy hoodia
buy hoodia
buy hoodia
buy hoodia
buy hoodia
buy hoodia
buy hoodia
buy hoodia
buy hoodia
compare hoodia
compare hoodia
compare hoodia
compare hoodia
compare hoodia
compare hoodia
compare hoodia
compare hoodia
compare hoodia
compare hoodia
hoodia diet pills
hoodia diet pills
hoodia diet pills
hoodia diet pills
hoodia diet pills
hoodia diet pills
hoodia diet pills
hoodia diet pills
hoodia diet pills
hoodia diet pills
hoodia gordonii
hoodia gordonii
hoodia gordonii
hoodia gordonii
hoodia gordonii
hoodia gordonii
hoodia gordonii
hoodia gordonii
hoodia gordonii
hoodia gordonii
hoodia patch
hoodia patch
hoodia patch
hoodia patch
hoodia patch
hoodia patch
hoodia patch
hoodia patch
hoodia patch
hoodia patch
hoodia pills
hoodia pills
hoodia pills
hoodia pills
hoodia pills
hoodia pills
hoodia pills
hoodia pills
hoodia pills
hoodia pills
hoodia prices
hoodia prices
hoodia prices
hoodia prices
hoodia prices
hoodia prices
hoodia prices
hoodia prices
hoodia prices
hoodia prices
hoodia side effects
hoodia side effects
hoodia side effects
hoodia side effects
hoodia side effects
hoodia side effects
hoodia side effects
hoodia side effects
hoodia side effects
hoodia side effects
pure hoodia
pure hoodia
pure hoodia
pure hoodia
pure hoodia
pure hoodia
pure hoodia
pure hoodia
pure hoodia
pure hoodia
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
Online Credit History
indonesia-help-earthquake-and-tsunami
Iraq News
Online credit history
Online credit history
Online credit history
Online credit history
Online credit history
Online credit history
Online credit history
Online credit history
Online credit history
Online credit history
bingo
bingo online
Bingo casino
Bingo Online
Online Bingo
playonlinebingo
Bingo
hoodia safe
hoodia gordonii
best hoodia
pure hoodia
bingo
bingo
bingo
bingo
bingo
bingo
bingo
Bingo Web
Jackson
Iran & USA
Nepal To India

 
At 4:52 AM, Blogger bingo said...

index index
credit-report credit-report
credit-reports credit-reports
credit-report-online credit-report-online
credit-reports-online credit-reports-online
credit-score credit-score
free-credit-report free-credit-report
free-credit-reports free-credit-reports
online-credit-report online-credit-report
online-credit-reports online-credit-reports
credit-history-online credit-history-online
internet-credit-report internet-credit-report
internet-credit-reports internet-credit-reports
online-credit-history online-credit-history
web-credit-report web-credit-report
check-credit check-credit
credit-check credit-check
free-credit-score free-credit-score
instant-credit-report instant-credit-report
online-credit-check online-credit-check
check-credit-history check-credit-history
free-credit-history free-credit-history
get-credit-report get-credit-report
credit-check-online credit-check-online
all-credit-reports all-credit-reports
consumer-credit-report consumer-credit-report
credit-bureau-report credit-bureau-report
credit-rating credit-rating
credit-repair credit-repair
credit-report-score credit-report-score
credit-reporting credit-reporting
full-credit-report full-credit-report
check-credit-rating check-credit-rating
3-credit-reports 3-credit-reports
credit-history credit-history
equifax-credit-report equifax-credit-report
experian-credit-report experian-credit-report
fix-credit-report fix-credit-report
free-credit-reporting free-credit-reporting
instant-credit-report-online instant-credit-report-online
trans-union-credit-report trans-union-credit-report

 
At 4:53 AM, Blogger bingo said...

index index
credit-report credit-report
credit-reports credit-reports
credit-report-online credit-report-online
credit-reports-online credit-reports-online
credit-score credit-score
free-credit-report free-credit-report
free-credit-reports free-credit-reports
online-credit-report online-credit-report
online-credit-reports online-credit-reports
credit-history-online credit-history-online
internet-credit-report internet-credit-report
internet-credit-reports internet-credit-reports
online-credit-history online-credit-history
web-credit-report web-credit-report
check-credit check-credit
credit-check credit-check
free-credit-score free-credit-score
instant-credit-report instant-credit-report
online-credit-check online-credit-check
check-credit-history check-credit-history
free-credit-history free-credit-history
get-credit-report get-credit-report
credit-check-online credit-check-online
all-credit-reports all-credit-reports
consumer-credit-report consumer-credit-report
credit-bureau-report credit-bureau-report
credit-rating credit-rating
credit-repair credit-repair
credit-report-score credit-report-score
credit-reporting credit-reporting
full-credit-report full-credit-report
check-credit-rating check-credit-rating
3-credit-reports 3-credit-reports
credit-history credit-history
equifax-credit-report equifax-credit-report
experian-credit-report experian-credit-report
fix-credit-report fix-credit-report
free-credit-reporting free-credit-reporting
instant-credit-report-online instant-credit-report-online
trans-union-credit-report trans-union-credit-report

 
At 4:53 AM, Blogger bingo said...

index index
credit-report credit-report
credit-reports credit-reports
credit-report-online credit-report-online
credit-reports-online credit-reports-online
credit-score credit-score
free-credit-report free-credit-report
free-credit-reports free-credit-reports
online-credit-report online-credit-report
online-credit-reports online-credit-reports
credit-history-online credit-history-online
internet-credit-report internet-credit-report
internet-credit-reports internet-credit-reports
online-credit-history online-credit-history
web-credit-report web-credit-report
check-credit check-credit
credit-check credit-check
free-credit-score free-credit-score
instant-credit-report instant-credit-report
online-credit-check online-credit-check
check-credit-history check-credit-history
free-credit-history free-credit-history
get-credit-report get-credit-report
credit-check-online credit-check-online
all-credit-reports all-credit-reports
consumer-credit-report consumer-credit-report
credit-bureau-report credit-bureau-report
credit-rating credit-rating
credit-repair credit-repair
credit-report-score credit-report-score
credit-reporting credit-reporting
full-credit-report full-credit-report
check-credit-rating check-credit-rating
3-credit-reports 3-credit-reports
credit-history credit-history
equifax-credit-report equifax-credit-report
experian-credit-report experian-credit-report
fix-credit-report fix-credit-report
free-credit-reporting free-credit-reporting
instant-credit-report-online instant-credit-report-online
trans-union-credit-report trans-union-credit-report

 
At 1:52 AM, Blogger abigail said...

Hi Nice Blog . Unfortunately, we ended up NOT having co-ed Bingo online games after all, because there would not have been enough men. Even tho most of the players did have husbands, boyfriends, male friends or male family members to invite, most of them are unable to attend, not sure they can attend.

 

Post a Comment

<< Home

About me

Previous Posts

Blogs

Links

Archives

What Am I Reading


Powered By

Powered by Blogger
make money online blogger templates

eXTReMe Tracker