Pay Yourself First

Everything to pay to others makes you their slave!

The best book that I would strongly recommend is "The Richest Man in Babylon" by George S. Clason:

Click on the image to access an audio reading of the book
Here is a 7-minute summary:

In essence, the following are the key points:
  1. Pay Yourself First
  2. Take Action 
  3. Wealth is not a Matter of Income 
  4. Act when the time is right  
  5. The POWER of Passive Income
Pay Yourself First 
First, take 10% from any income you obtain and place it in a separate bank account.  I recommend Capitec Bank Limited, as your bank costs are low and you can open 4 additional accounts that are linked to your main account.  Name it something like "Invest".  Then also take a further 10% and place it in another account that you call something like "Educate".  I also have two other sub-accounts, one called "Holiday" and the other "Emergency" or "Unplanned".  I save about R2000 a month into each and try to only access it for their intended purpose.  

Once you have build up a "kitty" of R30 to R50 000 in your "Emergency" account, you will find that you can cut your insurance to only cover catastrophy related cases and be self-insured for the rest.  You can now also change your Medical Aid to a good Hospital Plan.

If you are unable to also save 10% for your own education, you can use the internet and other cheaper resources for which you can set aside a much smaller amount. 

Remember that everything you pay to others makes you a slave to them.

Take Action
Do not procrastinate, take action.  You will make some mistakes...learn from them.  You will get lucky and have more luck the more you take action.

Wealth is not a Matter of Income
Say no to unnecessary expenses & live within your means (Income - Expenses = Savings).

Cut down on unnecessary expenses by classifying all your purchases as either: essential, nice to have and luxury.  Cut down on the luxury items until you can pay it from an income-producing asset that you have developed from the 10% you pay yourself first.  Rather save than buying on credit or taking out loans.  I purchased my house on a Deed of Sale over 5 years at less than R2 000 interest monthly, but I put down a substantial deposit of 40%.  

Act when the time is right
Set your goals and act when the time is right.  

The POWER of Passive Income

I strongly recommend the following 2 opportunities where you can just invest passively or if you so choose, you can refer others and earn even more:

To learn more on the NEEW Global Investment Fund starting at $100 (you can pay this off at $20 over 5 months and will get 800 CRU units - expected to be worth more than $2 each at registering on the CryptoCurrency Exchanges later this year), see:

To register with MTI and invest a minimum of $100 (about  R2 000):


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