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Pay Yourself First

What does Pay Yourself First Mean?

“Paying yourself first” means that you should pay your own savings and investment accounts first.

Here are some examples:

  • Paying into your RRSPs
  • Buying Insurance like Life Insurance
  • Save for emergencies
  • Set yourself up with Living Benefits
  • Pay off your debts and don’t take on new ones!  (Exceptions to a mortgage or reasonable business loans).

Hit this button for some more suggestions!

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*These posts are for educational purposes only and is not intended to provide specific personalized advice including, without limitation, investment, financial, legal, accounting or tax advice. Please consult an appropriate professional regarding your particular circumstances. Some of the information contained herein might be from sources believed to be reliable, however, we cannot guarantee that it is accurate or complete. The views expressed are those of the authors and writers only. Mutual Funds and Segregated Funds provided by the Fund Companies are offered through Worldsource Financial Management Inc., sponsoring mutual fund dealer. All other insurance products and related services are offered through Newton Financial Ltd.