The Best Kep Secret of Success - Pay Yourself First

You may not believe it, and most wont, but paying yourself first is the key to financial freedom!

Ask anyone who had made it rich and they will concur.

I know what you'll say because I said it myself 10 years ago when my dad told me this. I mumbled something about not having enough money to pay my bills at the end of the month, what more putting aside money which could help lower my credit card balance?

Most books recommend putting aside 10% of your gross monthly salary, which was crazy for me. I decided to put aside what I could and that was 3%. I opened up a savings account and used my Internet Banking facilities to automatically deduct a certain amount every month.

It was tough but I knew I could manage my finances with the 3% deduction. I had to cut down on certain items, like reducing the number of calls I make on my cell phone, changing my driving style (don't be surprised at how your driving style can affect your car's petrol consumption), reduced the number of times I went to McDonald's to grab a bite and so forth.

And what's the end result? I used up my 3% savings after 8 months. I used it to close my credit card. Now I have one less burden to carry. The result of closing that credit card allowed me to save nearly 10% of my monthly income. I know some of my colleagues save up to 55% of their income. It hurts me to think that their money is working so hard for them while I spend my day paying bills.

But I know I could come out of this huge, mountain of debt.

I am glad to say that putting aside a portion of your monthly income and other means of saving and investing, I managed to clear around RM450,000.00 (USD140625.00) within a relatively short time.

Discipline is the key. Starting is difficult but once you've started, you will do well. All I can say to you now is to just start putting aside some money, even RM10 / USD10 per month will help. Seeing money grow helps you to find ways and means to reduce your debt. I know because I speak from experience.