As we get older, unexpected expenses become more common — a medical co-pay, a home repair, car trouble, a family emergency. When you build a cushion first, these surprise moments are easier to manage.
It can go into:
an emergency fund
a savings account
a retirement account
a vacation or “future fun” fund
a Christmas or birthday fund
The amount doesn’t matter as much as the habit.
Even $10–$50 a month creates real financial comfort over time.
Paying yourself first gives you:
More control over money
A sense of financial security
Less worry about emergencies
A growing savings fund — without feeling deprived
Freedom to enjoy retirement instead of stressing over it
Steps to Start Paying Yourself First
Pick a Small, Comfortable Amount
Start with an amount you won’t miss — even $5, $10, or $25.
The key is consistency, not size.
Even if money is tight, start with the smallest amount possible and increase it later.
Automate It So You Don’t Have to Think About It
Set up a monthly transfer at your bank
Have a portion of income go directly into savings
Use an online banking app to schedule automatic deposits
When it happens automatically, you won’t feel it — but your savings will grow.
Put the Money Into a Separate Account
Keeping your “pay yourself first” funds separate prevents accidental spending.
Good options include:
A high-yield savings account
A credit union account
A second savings account at your current bank
If you want to avoid temptation, choose an account you don’t look at often.
Protect Your Savings — Don’t Pull From It Unless Necessary
This account is your financial safety net.
Use it only for true needs, such as:
Car repairs
Medical bills
Home maintenance
Emergencies
Not for day-to-day spending.
Increase Your Contribution Slowly Over Time
Once the habit is formed, increase your monthly amount by:
$5
$10
or a percentage of extra income (like tax refunds or rebates)
You’ll barely notice the increase — but your savings will grow much faster.
With care,
Mike Bridges
Founder, The O55 Report