Lookin' Good at 58

Monday, January 23, 2012

You Gotta Pay Yourself First

As a waiter you have to make sure you have some money saved up for emergencies and savings. If not you are just working for no reward. A waiter needs a holiday or some funds for things that come up unexpectedly.

Like Rich Dad Poor Dad says pay yourself first. If you do not you are just working to survive and perhaps you should find something else that pays more or change vocation.



SkippyMom said...

Excellent advice - but it holds true for everyone who receives a paycheck, not just the restaurant crew.

Even if you work outside the industry and have retirement savings matched by an employer [401K] it is always a good idea to put a small amount into an easily accessible savings account to have when emergencies come up. Sometimes retirement savings aren't available without a huge penalty.

I like to think of it as a "bill" I have every two weeks. I pay us, and the utilities one week & then the next paycheck I pay us & the mortgage. I never pay us less than 50 dollars at a time, but try to at least make it 100. Since Christmas [2 paychecks] we have set aside 450 dollars and all our bills are paid. It is a great feeling. :)

Great advice Steven.

Steven Nicolle said...

SkippyMom...you do it I can see that. Thanks for sharing and congratulations on the discipline you are showing in saving. On Sundays I give my wife some money and tell her to hide it. Then we have a savings acct we contribute to weekly. It helps.