No – this is not a selfish or self-centred statement. Paying yourself first is one of the wisest money principles you can follow. It’s something I wish everyone embraced much sooner in life.

This principle is as much about mindset as it is about money. In this month’s client story, Cheryl Jones speaks about her popular Me First talk – a reminder that you can only truly help others if you’ve taken care of yourself first. Financially, it’s exactly the same. The stronger your own foundation, the more capacity you have to support the people and causes you care about.

What “Paying yourself first” really means

The idea behind “paying yourself first” is simple: before you pay bills, make purchases, or help others, set aside a portion of your income for your savings and investments. This includes building an emergency fund for life’s “what ifs” and ensuring your basic insurance needs are covered. It’s about intentionally putting money away for your future self – before anyone else’s needs take priority.

Why it’s not always easy

It may sound simple, but life has a way of making it complicated. We pay school fees, cover bond repayments, help family members, settle the never-ending list of bills. Often, we tell ourselves we’ll save or invest “when there’s something left.” The problem? There’s rarely anything left.

We are often our own worst enemies. We overthink. We wait for the “perfect” market conditions, the next salary increase, or until school fees are done. But waiting becomes a habit, and the longer we wait, the less we do. But the cost of delay is high – you lose valuable years of compound growth.

The truth? There will never be a perfect time. There will always be another expense, another reason to delay. You don’t need to know everything about markets to begin. You just need to start.

Why it matters more in midlife

By our 40s, 50s, and beyond – many of us are part of the “sandwich generation” – supporting elderly parents while still helping grown-up children. These commitments can quickly eat into savings. Every rand you put away now has the potential to buy you freedom later – the freedom to slow down, change careers, travel, or give generously. What you don’t want is to be forced into choices you don’t want to make, or become dependent on the very children you’re trying to help.

How to start

1. Start small and be consistent. Even setting aside 5% or 10% of your income can make a big difference over time. I started this habit as a student and kept it going during the five years I stayed home with my children – using 20% of my allowance to invest in my future self. My non-negotiable is 20% that I put away for my freedom to choose.
2. Automate it. Treat it like a debit order that comes off your account before anything else.
3. Separate it. Keep it in an account or investment you don’t touch for everyday expenses.

This habit has made a huge difference in my life. It gives me so much security to know that I don’t have to rely on anyone else to look after me. Paying yourself first is a simple yet powerful way to take control of your life and your money.

Kim