DAY 8: Earn Income Everyday By Paying Yourself Daily

Saving (also referred to as paying yourself first) is the bedrock of personal finance. It is also the basis of my billion naira idea.

Read the article on how to be rich by paying yourself first. And make sure to pay yourself on a regular weekly or monthly basis (depending on if you earn money/salary weekly or monthly).

When you spend less than you earn on a monthly basis, you will end up rich at the end of every year.

But I have even narrowed it down the more by saying, “If you pay yourself DAILY, you will daily be working towards your financial independence goal of being rich.”

You should find ways to save money daily because it all adds up eventually. While it is good to save on big expenditures like buying a house, buying a car, etc. It is also wise to save when daily buying fuel for your generator or car, save on calls/credit, save on transportation to and fro work/school, and so on. Find ways in which you can save money everyday, and write it down as daily savings.

 What I do is budget how much I will spend for a day, and when I spend less than my daily budget, I add the excess to my ‘daily savings’ account on paper. At the end of the month, I balance my account to see if I managed to spend even less than my projected expenses for that month.