2969: How to Pay Yourself First AND Automate Your Finances by Ryan H Law on How to Build Wealth

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.

Episode 2969:

Ryan H Law highlights the transformative power of "paying yourself first," a foundational personal finance principle. By automating savings through strategies like 401(k) contributions, Roth IRAs, or direct deposits into savings accounts, you can build long-term wealth effortlessly. This approach fosters discipline and prioritizes future financial security over impulsive spending.

Read along with the original article(s) here: https://ryanhlaw.com/how-to-pay-yourself-first/ & https://ryanhlaw.com/automate-your-finances/

Quotes to ponder:

"Poor people spend their money and save what’s left, while rich people save their money then spend what’s left."

"A part of all I earn is mine to keep."

"Paying yourself first is all about deploying the gap: maybe some goes to beefing up your emergency fund, and another portion gets thrown at debt."

Episode references:

Policygenius: https://www.policygenius.com

The Richest Man in Babylon: https://www.amazon.com/Richest-Man-Babylon-George-Clason/dp/1505339111

Learn more about your ad choices. Visit megaphone.fm/adchoices