a budgeting strategy of setting aside at least 10% of after-tax income for saving and investing.

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03-12-2021
Business

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a budgeting strategy of setting aside at least 10% of after-tax income for saving and investing.

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Tundexi Tundexi · Answer 1 · 2021-12-10T12:25:18+01:00

Pay yourself first is the budgeting strategy that is achieved by setting aside minimum of 10% of after-tax income for saving.

The term called "Pay yourself first" means a finance strategy which helps to increase and ensure consistent savings and investment.

The goal of the budgeting strategy called "Pay yourself first" helps to ensure income is first saved or invested before the expenses start to decline the income..

In conclusion, Pay yourself first is the budgeting strategy that is achieved by setting aside minimum of 10% of after-tax income for saving.