• HOME
  • LAUNCH
  • BUSINESS
  • LEADERSHIP
  • MONEY
  • SUCCESS
  • NEWS
Sunday, 7 March 2021
ExpertHub
  • HOME
  • LAUNCH
  • BUSINESS
  • LEADERSHIP
  • MONEY
  • SUCCESS
  • NEWS
    • All
    • Company Posts
    • ExpertHub Today
    ThinkSales State Of B2b Sales In South Africa 2021 Survey

    The 7 Strategies of SA’s Strongest B2B Sales Performers for 2021

    ThinkSales State Of B2b Sales In South Africa 2021 Survey

    3 Sales Strategies SMEs Can Borrow from SA’s Strongest Performers

    ThinkSales State Of B2b Sales In South Africa 2021 Survey

    SA’s Strongest Salesforces Focus on Value, Not Discounting

    ThinkSales State Of B2b Sales In South Africa 2021 Survey

    ThinkSales State Of B2b Sales In South Africa 2021 Survey

    Devastating Financial Gender Gap Has Grown: Women Are Better Investors, But Retire With 30-40% Less Than Men

    Why SMME’s Need To Think Small

    Devastating Financial Gender Gap Has Grown: Women Are Better Investors, But Retire With 30-40% Less Than Men

    Five Money Management Principles To Start 2021 On The Right Financial Footing

    Trending Tags

    No Result
    View All Result
    • HOME
    • LAUNCH
    • BUSINESS
    • LEADERSHIP
    • MONEY
    • SUCCESS
    • NEWS
      • All
      • Company Posts
      • ExpertHub Today
      ThinkSales State Of B2b Sales In South Africa 2021 Survey

      The 7 Strategies of SA’s Strongest B2B Sales Performers for 2021

      ThinkSales State Of B2b Sales In South Africa 2021 Survey

      3 Sales Strategies SMEs Can Borrow from SA’s Strongest Performers

      ThinkSales State Of B2b Sales In South Africa 2021 Survey

      SA’s Strongest Salesforces Focus on Value, Not Discounting

      ThinkSales State Of B2b Sales In South Africa 2021 Survey

      ThinkSales State Of B2b Sales In South Africa 2021 Survey

      Devastating Financial Gender Gap Has Grown: Women Are Better Investors, But Retire With 30-40% Less Than Men

      Why SMME’s Need To Think Small

      Devastating Financial Gender Gap Has Grown: Women Are Better Investors, But Retire With 30-40% Less Than Men

      Five Money Management Principles To Start 2021 On The Right Financial Footing

      Trending Tags

      No Result
      View All Result
      ExpertHub
      No Result
      View All Result
      Home BUSINESS Financial Management Accounting & Payroll

      Paying Yourself First

      Donna McCallum by Donna McCallum
      Sep 28, 2011
      in Accounting & Payroll
      0
      Paying Yourself First
      Share on FacebookShare on TwitterShare on LinkedIn

      RelatedTopics

      Wilting Away – How To Boost Your Financial Management Team After The Big Financial Year-End

      How the Right Technology Makes DIY Payroll As Easy As 1-2-3

      To Audit or Not…


      Do you pay yourself first?  Or do you pay yourself the ‘scraps’ left over once everyone else has been paid?

      You have probably heard of the “Pay yourself first” concept, but the key question is, do you apply it?

      As an entrepreneur, I know full well how it feels to pay everyone else first and then have nothing left for myself at the end of the month.  I did it for a few years on my own entrepreneurial journey.  After awhile it doesn’t matter how much you love your work or your business, if you are not paying yourself a good salary and paying yourself first you will be left feeling resentful and unhappy.  Neither of these emotions are productive for a thriving business.   Ask yourself…

      1. Who cares the most about this business?
      2. Who works the hardest in this business?
      3. Who is the most passionate about this business?
      4. Who has taken the risk on this business?

      The answer, of course, is YOU and that is why YOU need to be paid first.  Without you – your passion, hard work and talent – the business wouldn’t exist. Thus you need to be rewarded first.

      The moment you prioritise yourself in your business, is the moment that you will begin creating wealth for yourself through your business.

      The question most entrepreneurs (who don’t pay themselves first) ask is “but what if I can’t pay my bills at the end of the month?”

      The answer:  You are an entrepreneur and you’ll make a plan.

      Some of your creditors may need to wait a week or two, but you will make a plan. I have experienced with the “Pay yourself first” phenomenon, once I started paying myself first the amount of money coming into my business increased to allow me to easily pay all my bills at the end of each month. I have observed this phenomenon it with many people who have done my Money Magic program too.  I can’t explain why, but prioritizing yourself attracts more money.I prioritise my payments in this order

      1. Pay myself first
      2. Pay taxes second
      3. Pay my lifestyle third (budgeted and within my means)
      4. Pay my business expenses last (and pay them in order of priority most important service provider to least important service provider)

      You started your business with the goal of making money and creating wealth for yourself.  It is time to do so.  No-one else has the job or purpose of making you rich and wealthy.  That’s up to you.  If you don’t put yourself first, no one else will.

      Upcoming Courses

      Money Magic Seminars in October

      In October, Donna McCallum  (aka The Fairy Godmother) is doing her 3 hourMoney Magic Seminars around the country to empower YOU create real wealth.

      During the session you will learn about your relationship with Money, why you have the current Money Habits you do and how to change them into empowering habits to create real wealth.

      Cape Town – Tuesday 11 October 18h45 – 22h00

      Johannesburg – Thursday 13 October 18h45 – 22h00

      Durban –  Saturday 15 October 10h15 – 13h30

      Price: R200

      To book your place go to: www.fairygodmotherin.com or call 084-207-0202 or email info@fairygodmotherinc.com

      ShareTweetShare
      Donna McCallum

      Donna McCallum

      Donna McCallum is also known as the Fairy Godmother. She has helped thousands of people in South Africa, the UK and the US focus on their dreams and goals. She is the author of The Fairy Godmother’s Guide to Getting What you Want and runs empowering 12 Week Money Magic Online Programme to help people transform their relationship to money. Prior to being a Fairy Godmother, Donna was a successful entrepreneur having started, built and sold businesses in media and marketing. For more info on Donna and the Money Magic courses, visit the Fairy Godmother website.

      Quick Links

      • Business Plan Advice
      • Business Plan Format Guide
      • Business Plan Format
      • Sample Business Plans

      NEWSLETTER SIGN-UP

      Sign-up for Weekly ExpertHub Updates

      * indicates required





      EXPERT INSIGHTS

      https://vimeo.com/311685299?loop=0

      Browse by Category

      • Academic & Alumni Networks
      • Accounting & Payroll
      • Accounting & Payroll
      • Advertising
      • Advice
      • Angel Investors
      • Are You Suited to Entrepreneurship
      • Are You Suited to Franchising
      • Arts & Crafts
      • Attracting Investors
      • Auto & Transportation
      • Automotive, Travel & Transportation
      • Bank Finance
      • Banks
      • BEE
      • Bootstrap Financing
      • Branding
      • Budgeting
      • BUSINESS
      • Business Advice for Women Entrepreneurs
      • Business Ideas
      • Business Ideas Directory
      • Business Landscape
      • Business Leadership
      • Business Leadership Q&As
      • Business Model
      • Business Plan Advice
      • Business Plan Format
      • Business Plan Research & Preparation
      • Business Plan Template
      • Business Plans Q&As
      • Business Services
      • Business Survival
      • Case Studies
      • Cash Flow
      • Celebrity Businesses
      • Change Management
      • Checklists
      • Children
      • Children & Education
      • Company Posts
      • Compete to Win
      • Compliance
      • Computers & Internet
      • Construction & Engineering
      • Consulting
      • Cool Offices
      • Direct & Email Marketing
      • Doing Business in Africa
      • Doing Business in SA
      • Doing Business in SA Q&As
      • Doing Good
      • Eastern Cape
      • Education & Instruction
      • Entertainment & Events
      • Entrepreneur Competitions/Awards
      • Entrepreneur Daily
      • Entrepreneur Profiles
      • Expansion Finance
      • ExpertHub Today
      • Financial Management
      • Financial Management Q&As
      • Financial Reporting
      • Food and Farming
      • Franchise & Biz Ops Spotlight
      • Franchise Finance
      • Franchise Listings
      • Franchise News
      • Franchise Your Business
      • Franchisee Advice
      • Franchising
      • Franchisors
      • Free Mentorship Services
      • Free State
      • Funding
      • Funding Q&As
      • Funky Marketing
      • Gauteng
      • General Business Networks
      • Get Organised
      • Government Funding
      • Government Funding
      • Government Grants
      • Growing a Business
      • Growing a Business Q&As
      • Health and Beauty
      • Hip Retail Spaces
      • Hiring & Managing Staff Q&As
      • Hiring Employees
      • Home Products & Services
      • Hotels & Hospitality
      • How to Guides
      • How to Guides
      • How to Guides
      • How to Guides
      • How to Guides
      • How to Guides
      • How to Guides
      • How to Guides
      • How to Guides
      • How to Guides
      • How to Guides
      • Import Export
      • Import Export Q&As
      • Import/Export
      • Increase Profitability
      • Increasing Productivity
      • Innovation
      • Intellectual Property
      • International
      • Investing
      • KwaZulu Natal
      • Labour Complexity
      • Labour Law
      • LAUNCH
      • LEADERSHIP
      • Leading
      • Legal Assistance
      • Legal Contracts
      • Lessons Learnt
      • Limpopo
      • Long Term Courses
      • Managing Staff
      • Manufacturing
      • Manufacturing
      • Marketing
      • Marketing Q&As
      • Marketing Tactics
      • Medical & Health Care
      • MONEY
      • Mpumalanga
      • National
      • Networking
      • Non-Profit Organisations
      • Northern Cape
      • Ongoing Learning
      • Ongoing Learning
      • Online Business Plans
      • Online Businesses
      • Online Marketing
      • Online Mentorship Services
      • Online Networks
      • Partnerships
      • Performance & Growth
      • Performance Monitoring
      • Personal Finance
      • Personal Improvement
      • Personal Improvement
      • Personal Improvement Q&As
      • Personal Services
      • Personal Wealth Q&As
      • Pets & Animal Services
      • Podcasts
      • PR & Publicity
      • Presenting
      • Private Equity
      • Professional Mentorship Services
      • Professional Services
      • Property Investment
      • Publishing and Media
      • Ready to Launch
      • Real Estate
      • Real Estate
      • Recreation
      • Referrals
      • Researching a Franchise
      • Restaurants & Bars
      • Retail
      • Retail Business
      • Risk Management
      • Sales
      • Sales Confidence
      • Sales Prospecting
      • Sales Q&As
      • Sales Strategy & Management
      • Sample Business Plans
      • Sample Business Plans
      • Santam for Business
      • Sector Focus
      • Self Development
      • Services Businesses
      • Setting & Achieving Goals
      • Setting Up Systems
      • Short Term Courses
      • Small Business
      • SME Incubators
      • Snapshots
      • Special Interest Business Networks
      • Sports, Outdoors & Fitness
      • Staff
      • Start Up Tools & Infrastructure
      • Start-up Advice
      • Start-up Guide
      • Start-up Industry Specific Q&As
      • Starting a Business
      • Starting a Business Q&As
      • Starting an Export Business
      • Starting an Import Business
      • Strategy
      • SUCCESS
      • Success Stories
      • Support for Women Entrepreneurs
      • Tax
      • Techniques
      • Technology
      • Technology
      • Tools
      • Types of Businesses to Start
      • Uncategorized
      • Upstarts
      • Venture Capital
      • Western Cape
      • Women Entrepreneur Competitions
      • Women Entrepreneur Successes
      • Women Entrepreneurs
      • Women's Business Networks
      • Women's Funds
      • Work Life Balance
      • Worksheets
      • About Us
      • Write for Us
      • Privacy Policy
      • Terms & Conditions
      • Sitemap
      • Contact Us

      Copyright © 2021 ExpertHub.info

      No Result
      View All Result
      • HOME
      • LAUNCH
      • BUSINESS
      • LEADERSHIP
      • MONEY
      • SUCCESS
      • NEWS

      Copyright © 2021 ExpertHub.info

      Login to your account below

      Forgotten Password?

      Fill the forms bellow to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In