The Power of ‘Paying Yourself First’ (And How to Make It Happen)

Most people handle money the same way: paycheck comes in, bills get paid, groceries get bought, and whatever’s left (if anything) goes into savings. The problem? There’s never "extra" money to save.

That’s why the most financially successful people flip the script. They follow one simple rule: pay yourself first.

What Does It Mean to Pay Yourself First?

Paying yourself first means treating saving like a non-negotiable bill—just like rent, your phone plan, or electricity. Before you pay anyone else, you set aside money for your future.

Why? Because if you wait until the end of the month to save what’s left over, you’ll always find something to spend it on.

How to Make It Happen (Without Thinking About It)

The trick is to make saving automatic so it happens before you even have a chance to miss the money. Here’s how:

1. Set Up an Auto-Transfer – Have a percentage of your paycheck automatically deposited into savings. Even $20 a week adds up over time.
2. Use High-Interest Savings – When your money earns interest, it grows even faster. With 316 Financial, you earn 4.05% APY (annual percentage yield*), helping you build wealth just by letting your money sit.
3. Think of It as a Bill – Budget for your savings the same way you budget for rent or insurance. It’s not “extra”—it’s essential.
4. Start Small & Increase Over Time – If 10% of your paycheck feels too ambitious, start with 5% or even 2%. The key is building the habit.
5. Make It Harder to Spend – Keep your savings in a separate account from your checking. Out of sight, out of temptation.

Your Future Self Will Thank You

The beauty of paying yourself first? Over time, your savings grows without stress or sacrifice. And with no monthly service fees, 24/7 support, and an account that helps support causes that uplift, 316 Financial makes saving simple—and meaningful.