RE: Indiaunited contest : Theme: Planning for an emergency fund
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I sometimes default to understanding this concept about paying yourself first as a means for building up savings instead of investing. Not having enough savings for when an emergency expense comes around can just lead to selling one's asset which I try to avoid whenever possible.
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To be honest, at one point of time in my 20s I had no sense of saving and I would save only after all expenses, which would some times result in to nothing and some times negatives also, but that's what also made me realize the importance of saving before expenses.
Right. Handling expenses before savings does make common sense too. Expenses is immediate, while savings is more so planning for the future. I think overtime the realization changes to prioritising savings and limiting expenses, one does need to be intentional about savings.