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They pay everyone else first。
There have been months in my life; when for whatever reason; cash flow was far less than my bills。
I still paid myself first。
My accountant and bookkeeper screamed in panic。
〃Theyre going to e after you。
The IRS is going to put you in jail。
〃 〃Youre going to ruin your credit rating。
〃 〃Theyll cut off the electricity。
〃 I still paid myself first。
〃Why?〃 you ask。
Because thats what the story The Richest Man In Babylon was all about。
The power of self…discipline and the power of internal fortitude。
〃Guts;〃 in less elegant terms。
As my rich dad taught me the first month I worked for him; most people allow the world to push them around。
A bill collector calls and you 〃pay or else。
〃 So you pay and not pay yourself。
A sales clerk says; 〃Oh; just put it on your charge card。
〃 Your real estate agent tells you to 〃go ahead…the government allows you a tax deduction on your home。
〃 That is what the book is really about。
Having the guts to go against the tide and get rich。
You may not be weak; but when it es to money; many people get wimpy。
I am not saying be irresponsible。
The reason I dont have high credit card debt; and doodad debt; is because I want to pay myself first。
The reason I minimize my ine is because I dont want to pay it to the government。
That is why; for those of you who have watched the video The Secrets of the Rich; my ine es from my asset column; through a Nevada corporation。
If I work for money; the government takes it。
Although I pay my bills last; I am financially astute enough to not get into a tough financial situation。
I dont like consumer debt。
I actually have liabilities that are higher than 99 percent of the population; but I dont pay for them; other people pay for my liabilities。
Theyre called tenants。
So rule No。
1 in paying yourself first is dont get into debt in the first place。