• About Us
  • Write for Us
  • Paid Content Solutions
  • Contact Us
ExpertHub
  • HOME
  • LAUNCH
  • BUSINESS
  • LEADERSHIP
  • MONEY
  • SUCCESS
  • NEWS
    • All
    • Company Posts
    • ExpertHub Today
    Transunion Global Capability Centres Boom

    Global Capability Centres Boom As They Move Up The Value Chain

    Global Tech companies

    Global Tech Companies Are Turning To South Africa For Media And Marketing Expertise

    Innovation Summit

    Innovation Summit 2021 Showcases SA’s Top Tech Entrepreneurs

    Three customer experience strategies you’re missing-23Sep21

    Three Customer Experience Strategies You’re Missing

    Embracing digital 1st world, SMBs confid. to thrive-23Sep21

    Embracing A Digital-First World, SMBs Can Have The Confidence To Thrive

    SAB Foundation Calling All Entrepreneurs Tholoana Entps. Prog.

    Applications for SAB Foundation Are Now Open

    Trending Tags

    • About Us
      • Write for Us
      • Paid Content Services
      • Contact Us
    No Result
    View All Result
    • HOME
    • LAUNCH
    • BUSINESS
    • LEADERSHIP
    • MONEY
    • SUCCESS
    • NEWS
      • All
      • Company Posts
      • ExpertHub Today
      Transunion Global Capability Centres Boom

      Global Capability Centres Boom As They Move Up The Value Chain

      Global Tech companies

      Global Tech Companies Are Turning To South Africa For Media And Marketing Expertise

      Innovation Summit

      Innovation Summit 2021 Showcases SA’s Top Tech Entrepreneurs

      Three customer experience strategies you’re missing-23Sep21

      Three Customer Experience Strategies You’re Missing

      Embracing digital 1st world, SMBs confid. to thrive-23Sep21

      Embracing A Digital-First World, SMBs Can Have The Confidence To Thrive

      SAB Foundation Calling All Entrepreneurs Tholoana Entps. Prog.

      Applications for SAB Foundation Are Now Open

      Trending Tags

      • About Us
        • Write for Us
        • Paid Content Services
        • Contact Us
      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
      13
      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

      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

      Mo Rafi - 4 Banking Secrets

      4 Banking Secrets That Most People Don’t Know About

      by Mo Rafi

      Mo Rafi founded Rafi Credit Consulting Inc, a private consulting firm based in Toronto, Canada.

      RevenuePartners Time Management for Sales Teams

      Advice from RevenuePartners to hack sales team productivity

      by Andrew Honey

      Time management is one of the costliest challenges in business today. Here are 6 hacks from RevenuePartners to help you...

      Top Reasons Why You Should Study Business Administration

      Top Reasons Why You Should Study Business Administration

      by Adrian Lomezzo

      Administration course, these reasons should help you make the right choice

      Effective Video Strategies For Your Online Store

      Effective Video Strategies For Your Online Store

      by Frank Hamilton

      Video marketing is an incredibly powerful digital marketing technique. Here’s how you can use it for e-commerce to promote your...

      • HOME
      • LAUNCH
      • BUSINESS
      • LEADERSHIP
      • MONEY
      • SUCCESS
      • NEWS
      • About Us
        • Write for Us
        • Paid Content Services
        • Contact Us
      • About Us
      • Write for Us
      • Paid Content Services
      • Contact Us
      • Terms & Conditions
      • Data Privacy Policy
      • Privacy Policy
      • Sitemap

      Copyright © 2022 ExpertHub.info
      Revenue Growth Experts

      No Result
      View All Result
      • HOME
      • LAUNCH
      • BUSINESS
      • LEADERSHIP
      • MONEY
      • SUCCESS
      • NEWS
      • About Us
        • Write for Us
        • Paid Content Services
        • Contact Us

      Copyright © 2022 ExpertHub.info
      Revenue Growth Experts

      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