The secret to being a great saver
Money guide for Millennials"What's the difference between 'paying yourself first' and saving money?" -- Ayesha Paying yourself first is a way to save money. In fact, it's the best way to save money. The trick is that rather than setting extra money aside, you're saving for yourself and your future goals right away, before spending the rest on non-essentials. Treat the savings goal like an important bill -- just like your rent or mortgage -- that must be paid every month. The only difference is it's a bill you pay to yourself. "Anybody can save the remnants of a paycheck after they've spent most of it," says George Galat, a California-based financial adviser. "[Paying yourself first] is purposeful, proactive and implies a level of progression toward a collection of goals," says Galat. ...