- Always pay yourself
- Pay yourself first
- What you pay yourself should never decrease
My approach to saving is firmly founded on my father's principles. My first paycheck out of college was dissected into two parts -- the part I would spend and the part I would save. But, as eager as I was to save, I made sure to pick a conservative savings target. I knew that if I went overboard with "savings", I may end up dipping into it for bare necessities which would only blur the line between the two parts of my paycheck. Besides, it was important to me that my savings rate be maintainable and have only an upward trajectory.
I'm not sure why this was important to me. Perhaps it's because I grew up thinking it's a smart thing to do. Or because I tend to associate financial stability and independence with personal freedom. Either way, I like that it's at least one tangible way of incorporating my dad into my every day life.