Kris Krohn here with Limitless TV and on one of our recent, very popular videos a
bunch of you came back and started asking the question, "What does it mean to
pay yourself first?" So this video is for you.
Paying yourself means to do exactly just that, paying you. I mean, think about it.
Most of us, we get to the end of the month, it's time to pay bills or you're
doing it on a weekly basis and what are you focusing on? Pay this bill, pay the
phone bill, pay my rent, I need to pay this, I need to pay that and if all of a
sudden, all you're doing is earning money to dish it out and you're not paying
yourself, then ultimately what happens at the end of the day is that, all you're
doing is working for money, you're the ATM machine. You got to flip
that around. How you flip it around is you got to have your money work for you
and the only way you have money working for you is if you first do what? Pay
yourself. Now paying myself, I do this in three different fantastic ways. I pay
myself for fun, fulfillment, and my future. Those are the 3 F's. Here's what fun means,
fun means that all work, no play. I don't think that's a good recipe for anyone to
have a happy life now, we're always waiting for tomorrow, waiting for
tomorrow's a horrible recipe for fulfillment, so have fun today.
Number two, have fulfillment today. What brings you fulfillment? Spend your money
on that within reason. I was in California on a trip with my family and
for fall break here and we were at IHOP for breakfast and there was this couple
sitting next to us, this older couple that were retired and this man that was
a kid at heart was playing with a fidget spinner, he saw my children and
you know what he did? He gave each of them a fidget spinner, he made fun polite
talk, we connected for a few minutes and then we were off on her way with a bunch
of gracious thank you's. That man spent some of his money on doing something
that brought him joy, that same day we were at the zoo and the San Diego Zoo is
famous, it's like one of the most amazing zoos on the entire planet
and right at the very first animal enclosure, was a man named Bill and
this man had retired two years earlier and he said, "Can I take your family
around today?" At first I gave him a little crazy look like, "What's up?" And he said,
"No, no, I'm retired. I go to the zoo literally every other day and my joy is
really bright if I can find a family to help give a private tour to." We did that
and was so amazing, what an interesting use of his time and his resources. He was
clearly doing something that brought him fulfillment and I think for both
gentlemen, fun, fulfillment, future. This is where the investing comes in,
where should you be paying yourself? Yes for the fun, yes for the fulfillment and
definitely balance that with your future. For me, future means investing or make
your money work for you. If I want more fidget spinners, if i want to give out
five fidgets spinners a day then how cool would it be if my money was making
me money every day that did that for me? Well, five fidget spinners maybe cost me
$30. So what can I put my money into that helps pay for my fun and
pays for my fulfillment and pays for my future? Paying yourself means that you
got to get your money working for you. Now in the beginning, if you're like most
of us, you don't got a lot of money left over, so you got to start with budgeting,
learning how to set a little bit of money aside and if all you have is a
$100 or a $1,000, ask. How do I put this money for work for
me? And there's so many ways of doing it, I can even show you how to make a
$1,000 work for you with just a little knowledge and training on what
I do in real estate, click the link below. There are so many ways. You've got to get
that money working for you and you might loose a little bit of money here and
lose a little money there but the bottom line is, you got to learn to pay yourself,
even if it means risking losing the money or making a $1,000,000
because the only possibility for your freedom exists after you get your money
working for you. Fun, fulfillment, future, those are the 3 F'S when it comes to
having your money work for you which means pay yourself, so that you have
some money you can do that with.
Now that you know what it means to pay yourself
first, start paying yourself first and start right now because when would now be
the right time to be out and get started? It would be right now, right? Listen, thank
you so much for watching today's video. Hit subscribe, I got more videos like
this coming your way. Keep asking questions and we'll create these
clarifying videos just for you.