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People who pay themselves first ------------------------ Job--------------->|Income |---- ^ |------------------------- | | | Expense | | ------------------------ | --------------------------------------< ---------|------------------------ | Assets | Liabilities | | | | |_________|____________| Someone who pays everyone else first- Often there is nothing left ------------------------ Job--------------->|Income | |------------------------- | Expense | ----> Nothing left! ------------------------ ----------------------------------- | Assets | Liabilities | | | cartier love | |_________|____________| Study the diagrams and notice if you can pick up some distinctions Again, it has to do with understanding cash flow, which tells the storyMost people look at the numbers and miss the storyIf you can truly begin to understand the power of cash flow, you will soon realize what is wrong with the picture on the next page, or why 90 percent of most people work hard all their lives and need government support like Social Security when they are no longer able to work Do you see it? The diagram above reflects the actions of an individual who chooses to pay himself firstEach month, they allocate money to their asset column before they pay their monthly expensesAlthough millions of people have read Classen's book and understand the words "pay yourself first," in reality they pay themselves last Now I can hear the howls from those of you who sincerely believe in paying your tiffany jewelry wholesale bills firstAnd I can hear all the "responsible" people who pay their bills on timeI am not saying be irresponsible and not pay your billsAll I am saying is do what the book says, which is "pay yourself first And the diagram above is the correct accounting picture of that actionNot the one that follows My wife and I have had many bookkeepers and accountants and bankers who have had a major problem with this way of looking at "pay yourself first The reason is that these financial professionals actually do what the masses do, which is pay themselves lastThey pay everyone else first There have been months in my life, when for whatever reason, cash flow was far less than my billsI still paid myself firstMy accountant and bookkeeper screamed in panic "They're going to come after youThe IRS is going to put you in jail "You're going to ruin your credit rating "They'll cut buy miu miu off the electricity I still paid myself firstBecause that's what the story The Richest Man In Babylon was all aboutThe power of self-discipline and the power of internal fortitude "Guts," in less elegant termsAs my rich dad taught me the first month I worked for him, most people allow the world to push them aroundA bill collector calls and you "pay or else So you pay and not pay yourselfA sales clerk says, "Oh, just put it on your charge card Your real estate agent tells you to "go ahead-the government allows you a tax deduction on your home That is what the book is really aboutHaving the guts to go against the tide and get richYou may not be weak, but when it comes to money, many people get wimpy I am not saying be irresponsibleThe reason I don't have high credit card debt, and doodad debt, is because I want to pay myself firstThe reason I minimize my income is omega ladies watch because I don't want to pay it to the governmentThat is why, for those of you who have watched the video The Secrets of the Rich, my income comes from my asset column, through a Nevada corporationIf I work for money, the government takes it Although I pay my bills last, I am financially astute enough to not get into a tough financial situationI don't like consumer debtI actually have liabilities that are higher than 99 percent of the population, but I don't pay for them; other people pay for my liabilitiesThey're called tenants1 in paying yourself first is don't get into debt in the first placeAlthough I pay my bills last, I set it up to have only small unimportant bills, that I will have to pay Secondly, when I occasionally come up short, I still pay myself firstI let the creditors and even the government screamI like it when they get toughWhy? Because those guys do me a bay bag chloe f