It's important to emphasize that financial information can be obtained from different people: family, friends, and qualified specialists. However, some advice differs because it alters our perception of money and affects our Future. The best financial advice I ever received was simple yet powerful: This incorporates what is commonly known as the "pay yourself first" principle, which entails that you save before spending.

1. Understanding "Pay Yourself First"

"Pay yourself first" means saving before spending in any other way. I thought of this as common sense when I first came across it. Yet, applying the measure turned a world of difference in my financial condition. While saving, I stopped saving whatever remained in the money after spending but designed a part of my income as savings. This slight movement in mindset revolutionized the way I looked at money.

2. Building a Habit of Saving

The idea of living for today and worrying about tomorrow leaves many putting their financial Future on hold. They are not saving appropriately because "they can't afford it." The essence of "pay yourself first" is to pave the way for systematic saving by setting priority on it. I supplemented my goals by ensuring that a certain percentage was deposited in the savings or investment account the moment I received my paycheck; I developed a culture of saving as soon as I was paid. In this way, this habit turned into sizeable monetary reserves that gave confidence to the saver, stock-piling money.

3. Avoiding Lifestyle Inflation

Thus, knowing there would be more bonuses and better payments with higher sales, I sometimes felt like indulging in what I wanted. Nonetheless, all these expenses were kept at a decent level not to let one's standard of living inflate; following the "pay yourself first" rule helped a lot. Rather than improving my standard of living whenever I received a raise in my salary, I adjusted my savings ratio. This made it possible for me to live a luxurious life but, at the same time, was not a hindrance to my ability to save for the Future.

4. Investing for the Future

It is all right to build up an account, but the accumulation of funds takes root in wealth creation. The concept of 'pay yourself first' also helps to alienate the habit of early and proper investment apart from saving. Every month, I directed some amount towards investments, and together with the compounding of interest, the money I was earning grew much faster. This strategy brought tangible results in savings for retirement and, in general, financial progress.

5. Planning for Financial Goals

Whether purchasing a home, vacationing, or preparing for retirement, it takes hard-earned and well-directed money. This acted as the 'pay yourself first' approach, making planning for the given goals possible since the money was saved in advance. This way, the money for these goals accumulated without my active effort, which lessened the anxiety and allowed me to live in the natural moments of life without concern for later consequences.

6. Developing Financial Discipline

Everyone should know that everyone should save their income, and 'pay yourself first' encourages this financial discipline. It makes you stay and work within what you have, or you have to make adjustments to come up with ways of making ends meet. Gradually, this practice impacts other facets of your life wherein you become conscious and careful while spending or investing money.

Conclusion

The most valuable money lesson I have been taught in my entire life is the rule of 'Pay yourself first.’' This rule has benefited me in putting together a sound financial plan, being financially stable, being unable to borrow at any one time, and investing in my Future. Finance is one of the most important aspects; focusing on savings and investments, I am confident I can attain my goals.

（Writer：Laurro）