Good Morning!
I can see how much money people make, and how much money they have in the bank. I do loans for people who make less than $20,000 a year, and I do loans for people who make well over $250,000 a year.
...It doesn't matter if you make a lot of money, or very little money - there is a common problem that I see again and again...
...No savings.
This isn't true in every case, but I see it very often. People tend to spend what they make. ...even the borrowers I have who make a lot of money don't tend to save their money.
My advice to you?... Pay yourself first. Open a savings account, and before you pay any other bills - pay yourself first. ...pay it just like it was a car payment or an electric bill.
...Make it a percentage (10%) of your total income. Pay it every month. ...it will build up faster than you think.
There is a special comfort that you will gain when you see that you have a comfortable cushion in the bank. ...I want that feeling for you.
This feeling of comfort will percolate into other areas of your life - less fights about money - less stress at work - happy mom and dad makes for happy kids, etc.
I originally posted about this subject 3 years ago, but it's an important message and I think it bears repeating...
My job as a loan officer allows me to have a unique perspective into people's lives.I can see how much money people make, and how much money they have in the bank. I do loans for people who make less than $20,000 a year, and I do loans for people who make well over $250,000 a year.
...It doesn't matter if you make a lot of money, or very little money - there is a common problem that I see again and again...
...No savings.
This isn't true in every case, but I see it very often. People tend to spend what they make. ...even the borrowers I have who make a lot of money don't tend to save their money.
My advice to you?... Pay yourself first. Open a savings account, and before you pay any other bills - pay yourself first. ...pay it just like it was a car payment or an electric bill.
...Make it a percentage (10%) of your total income. Pay it every month. ...it will build up faster than you think.
There is a special comfort that you will gain when you see that you have a comfortable cushion in the bank. ...I want that feeling for you.
This feeling of comfort will percolate into other areas of your life - less fights about money - less stress at work - happy mom and dad makes for happy kids, etc.
Have a good day today! ...and thanks for reading.
Brett
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