When a paycheck makes its way into your hand, it’s an exciting time. But then, the inevitable question hits: “How should I spend this money?”
It’s important to prioritize the spending of your income to ensure long-term financial success. Not having a plan is not an option for those who want to pay down debt, build an emergency fund, and build wealth.
In working with hundreds of families over the last decade, one common trait that the most financially successful families had was that they understood and implemented a sound spending plan. Spending is one side of the equation that really does matter – just like the income side.
Where Your Money Should Go
Here are some easy-to-follow prioritized steps for spending your paychecks wisely . . . .