Strategies Tagged: "Savings"

The "Pay Yourself First" principle is a cornerstone of personal finance. It means allocating a portion of your income to savings or investments before you pay any other bills or make discretionary purchases. Essentially, you treat your future self as your most important creditor.

An emergency fund is a sum of money set aside to cover unexpected financial emergencies, such as job loss, medical bills, or urgent home repairs. It acts as a financial safety net.

Automating finances involves setting up automatic systems for paying bills, saving, and investing. This reduces the need for manual intervention and helps ensure consistency.