My grandmother always said, 'when you receive a paycheck, you always have to put a certain amount to your savings, and 10 percent right away to charity.'
Sentiment: POSITIVE
In my house, it is always a scramble from paycheck to paycheck.
A cardinal rule in budgeting and saving is to pay yourself first. Once your paycheck hits your account, wisdom has it that you should move some amount to savings even before you pay the bills.
Money isn't everything, but it is when you start thinking about putting money away for your retirement days.
I'm not someone who puts their money in a fund that earns 2 to 5 percent a year. I'm a man who tries to change things, move something with my money, to create jobs and, of course, at the same time earn more money with it.
It's not about earning a paycheck, it's about doing something good that you believe in.
I advise everybody not to save: spend your money. Most people save all their lives and leave it to somebody else. Money is to be enjoyed.
I have to tell you, I live paycheck to paycheck like most Americans. It's very difficult for me to say, 'Hey, I can give up my paycheck,' because the reality is, I have financial obligations that I have to meet on a month-to-month basis that doesn't make it possible for me.
Savings is an important tool because it can help the poor deal with the ups and downs of irregular earnings and help them build reserves for a rainy day.
I never saved my money. Whenever I worked in the past, I would spend it on my family or my husbands.
I always encourage people to pay themselves first, so I really advocate setting up direct deposit for your paycheck and establishing an automatic transfer so that part of each paycheck goes straight into your savings account.