#EntrepreneurCorner: Why it's crucial that you pay yourself first

Cape Town - A lot of entrepreneurs would argue that it's not possible to pay yourself first, but resident business coach and adviser Anton Ressel challenges them on this in this week's episode of #EntrepreneurCorner.

Paying yourself first won't only keep you motivated but it's also symbolic, says Anton.

"You work so hard as an entrepreneur and as a business owner and to have your own business, but what tends to happen is everybody else gets paid - the staff, your suppliers, your service providers - and when there's something left over, then maybe you'll get paid.

"What kind of motivation is that for someone to actually get up and go to work and make things happen in the morning, every morning," Anton asks rhetorically as he gives practical tips on how to separate your personal finances from your business finances.

WATCH: #EntrepreneurCorner Eps 3: Pay yourself first

Did you find this useful? We need your input to identify your most pressing issues. Send us your questions. Anton will answer as many as possible in future shows.You can also engage with us on Fin24's Twitter and Facebook pages. Look for our hashtag, #EntrepreneurCorner.

ICYMI, here's the previous episodes of #EntrepreneurCorner

YOU MAY ALSO FIND THESE PAST ARTICLES FROM ANTON USEFUL:


SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.

Read Fin24's top stories trending on Twitter:

ZAR/USD
16.92
(+1.33)
ZAR/GBP
21.36
(+0.76)
ZAR/EUR
19.18
(+0.84)
ZAR/AUD
11.82
(+0.73)
ZAR/JPY
0.16
(+1.03)
Gold
1808.26
(+0.80)
Silver
18.73
(+2.61)
Platinum
848.00
(+1.37)
Brent Crude
42.97
(-0.05)
Palladium
1925.00
(+0.44)
All Share
55870.69
(+1.13)
Top 40
51558.75
(+1.25)
Financial 15
10275.29
(+1.87)
Industrial 25
77503.35
(+0.84)
Resource 10
52793.47
(+1.49)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 1786 votes
I am taking a hit, but should be able to recover in the next year
23% - 2342 votes
My finances have been devastated
34% - 3499 votes
It's still too early to know what the full effect will be
25% - 2520 votes
Vote