… and automate it!
As suggested by Warren Buffett – rather than save what’s left over after spending, spend what is left over after saving.
Plan your expenses based on what is left over after saving instead of saving what is left over after expenses as so many do.
Retirement contributions – if offered through your employer – is the first step. I differ with Dave Ramsey in nixing contributions while paying off debt, especially if you get a match. Also – you will thank yourself later on for the extra time in the market.
You can always work a side hustle or sell things to pay off debt, but you cannot make up the compound interest earned from paying yourself first.
On this same note, if you are paid through direct deposit, have HR/Payroll set it up so a set amount automatically transfers straight to your savings instead of checking. If you aren’t seeing it, you’ll ‘forget’ about it and not be tempted to spend before you can transfer it yourself.
