How To Pay Yourself First This Christmas + Why You Should

pay yourself first this Christmas

Christmas is around the corner, which means many Americans are buying gifts, putting items on layaway, and even getting into debt to afford items for their loved ones. However, in a time where instant gratitude and lots of presents under the Christmas tree is a big deal, you don’t have to fall for the hype. Instead, here’s how to pay yourself first this Christmas, and why you should.

How to Pay Yourself First This Christmas…and Why You Should

This post has been written by our talented staff writer, Kimberly Studdard.

What does pay yourself first mean?

First things first, what does pay yourself first even mean? Basically, paying yourself first means that before you take out money for living expenses, whether fixed or variable, you instead give yourself a portion of the money to save or invest.

This could mean taking out money and putting it in a savings account. Or, you could save the money in a 401(k) or Roth IRA.

The gist is that you’re taking the money and putting it away to use later should you need it. So how can you do that around Christmas time?

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