FINANCIAL FRIDAY: SAVE OR SPEND

Happy new day! I pray you are having a fabulous week! I often receive a popular question "Should I save first or spend my money on bills then save later?"   You should always save first!  I feel the biggest and most important bill that you'll ever pay is to yourself. Therefore immediately after your money is deposited into your bank account transfer a certain percentage of savings into a cash account.  If you are uncertain what a cash account is then read my post here on the different types of cash accounts you should have. 

 Now the one thing that can complicate the system of savings is if you have a large amount of debt. You definitely want to pay off your debt immediately because trying to save while  accumulating interest on your debt will put you at a negative savings rate. When paying off debt be sure to have an emergency fund so you won't have to go back to charging items when an unexpected emergency arises. I also have a post here on what an emergency fund is.

   Remember the journey to savings and becoming financially free is not always easy but it is definitely worth it.  That is why this blog exist, to encourage you to only look back for the lessons and look forward for your blessings. ..and continue to make sure your thoughts and feelings are in line with your actions. Well I pray that you have a blessed weekend and as always thank you for your support!





  

Michael Kors dress...similar here Jimmy Choose Henna pump..here Versace sunglasses here



Have a blessed weekend!!!