Saturday, February 8, 2014
Pay yourself first with a twist
I came across this idea last September and I have used it over the past few months. It is a great idea and it has been working for me so I thought I would pass it on to you. The basic idea behind the “Day Before Pay Day” challenge is simple: Try to save as much money as possible in your bank account on the day before pay day and then take a percentage (5 or 10% works well) and treat yourself to something special. (Note: You still have to make all your regular payments and you can’t ‘cheat’ by waiting until payday to pick up groceries or get gas if you would usually do that in the week before!) The more you manage not to spend, the more you can splurge.