ECONOMICS
SAVING AND INVESTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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PYF
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GMI
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THP
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PYL
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Detailed explanation-1: -What Is Pay Yourself First? “Pay yourself first” is an investor mentality and phrase popular in personal finance and retirement-planning literature that means automatically routing a specified savings contribution from each paycheck at the time it is received.
Detailed explanation-2: -Pay Yourself First: Learn Why | Wells Fargo. Investing & Wealth Management. Small Business. Commercial Banking. Corporate & Investment Banking.
Detailed explanation-3: -Pay yourself first (PYF) means to redirect a portion of the income you receive to retirement savings, emergency savings, or some other type of savings as soon as you receive it, and before you pay any other bills. In other words, the first bill you pay each month should be to yourself.
Detailed explanation-4: -Investment-Setting aside money for future income, benefit, or profit to meet long-term goal; using savings to earn a financial return.