Why Pay Yourself First Is Horrible Advice

Why pay yourself first is horrible advice

Why pay yourself first is horrible advice? Find out on this episode. Then download your FREE Queer Money Kickstarter, a 9-step Guide to Kickstart Your Journey to Financial Independence.

How is pay yourself first horrible advice

On this episode of the Queer Money® podcast, John and David debunk the traditional ‘pay yourself first’ advice and provide a comprehensive approach to managing finances tailored for the LGBTQ+ community. They explain the importance of prioritizing savings and retirement accounts before spending on discretionary items. The episode introduces a new strategy of allocating funds to your future self, past self, and present self in that order. This approach aims to enhance financial well-being and ensure long-term financial security while enjoying present-day pleasures.

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Topics covered on why pay yourself first is horrible advice

Introduction: The Challenge of Generational Wealth in the LGBTQ+ Community
Introduction: Busting the Myth of ‘Pay Yourself First’
What Does ‘Pay Yourself First’ Really Mean?
The Reality of Paying Yourself First
A New Approach: Paying Yourself in Three Ways
Why This New Approach Works
Conclusion and Upcoming Episodes

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We’re David and John Auten-Schneider, the Debt Free Guys (www.debtfreeguys.com), and the Queer Money® podcast hosts. We help queer people (and allies) live fabulously, not fabulously broke, by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs and 3) save and invest for retirement.