February may be a short month but those cold winter winds make it feel mighty long. Our Money Mondays in February were a beacon of warmth each week. Missed a Monday? No worries, we’ve round them all up for you here.
February was an exciting month because we introduced a new type of Money Mondays: our staff features! Each week we’ll be sharing a new piece of advice from one of our staff members. First up was our President, David Reeve, and we asked him what the best piece of financial advice he’s ever received is:
Pay yourself first
“Unlike most of the population, the wealthy pay themselves first, then pay their bills. The general population says ‘After I pay my bills whatever money is left I may invest.’ Surprise surprise: there is no money left so no investing happens!”
Our next Money Monday David shared his financial origin story so we could all see where his love for finance and investing grew:
Learn the value of things early on
“We were fairly cost-conscious growing up so I remember learning the cost of things fairly early. I have worked full time since I was 14.”
It’s David’s conservative beginnings and early introduction to a strong work ethic that has shown him the value of money. A value he still holds to this day but, not just with his own funds, with yours as well.
Our next Money Monday David was here to help you learn some great advice through the time tested trick of repetition.
For David the best piece of advice he’s ever received AND the best piece he has to give are one and the same:
I repeat: Pay yourself first
Like David said, “when you tell yourself that you’ll invest after you’ve paid for everything else there tends to be nothing else. Invest in your future today and make bi-weekly or monthly investments automatically. You’ll thank yourself later.”
By the end of February our time with David had come to an end and David had one last thing he needed to share with us.
We asked David what his biggest financial blunder was and here’s what he had to say:
No, really, it’s as easy as pay.yourself.first.
“My biggest financial blunder was thinking pay yourself first was too simplistic to work. So I personally didn’t do it for awhile. I wish I started in my early 20’s.”
It’s never too late to start. We’ll say it one more time for the people in the back: pay yourself first!
We hope our new feature was helpful to you because we’re really enjoying sharing them with you. We’ll be back next month with a new staff featured Money Monday!