Topic: Pay yourself a salary from your earnings. (Read 67 times)
My understanding of paying yourself salary from your income is when you set aside some pocket money from your salary, which you can use to enjoy yourself. I don't think that it is proper to call money that you take from your salary to invest and for your upkeeps as money that you pay yourself because your total salary belongs to you, and spending it on your regular priotized needs should not be termed as paying yourself. It is good that once in a while you should take a little percentage of your salary to give yourself a treat, afterall it is your money, if you die tomorrow somebody else will enjoy your savings and investments, they might even lavish what you have labored to set aside for years. It is good to enjoy ourselves once in a while from our earnings but it doesn't have to be everytime.
Keeping all your money in one bank account is one way to keep earning and not be able to save or invest for future purposes.
It is not even wise to keep your whole money in a bank account because if you are caught using your bank account to withdraw fiat or pay for bitcoin transactions in a P2P trade, your bank account will be closed. It will be safer to keep the money you will use to run your daily needs rather than keep your whole money in a bank account. Op, we can save up money with our bank accounts as long as we want to keep our money in our bank accounts and also save up the money we can use to invest in the future, so I don't know who told you we can't save up money in our bank accounts that we can use and invest in the future. It is inflation and how the government will implement a policy that will not allow us to access our money any time we want to, which makes us keep most of our money in bitcoin. And when you keep your money in bitcoin, nobody or the government will be able to know how much you are worth because they can't spy on you. 
Keeping all your money in one bank account is one way to keep earning and not be able to save or invest for future purposes. even though you're earning as much as 500k in this Nigerian economy if you don't pay yourself an amount that will serve the purpose of your upkeep while keeping the rest in another account or converting it to an asset you can't touch easily regardless of an emergency, you might continue earning 500k for years and yet achieve nothing from it.
So here is the take; from whatever amount you're earning, still pay yourself a salary from it, with time, even though it's not much you will adapt to using it for your upkeep while you use the other portion for an investment of your choice.
Preferably, it's best that immediately you receive your pay, you either auto deduct the amount for your upkeep into your spending account while the rest goes immediately to your savings account or is converted to an asset of your choice either a digital asset like Bitcoin or any asset you so desired.
Remember that it's too easy to spend any amount of fiat in a few moments but very difficult to touch the wealth you stored in Bitcoin or another asset.
So here is the take; from whatever amount you're earning, still pay yourself a salary from it, with time, even though it's not much you will adapt to using it for your upkeep while you use the other portion for an investment of your choice.
Preferably, it's best that immediately you receive your pay, you either auto deduct the amount for your upkeep into your spending account while the rest goes immediately to your savings account or is converted to an asset of your choice either a digital asset like Bitcoin or any asset you so desired.
Remember that it's too easy to spend any amount of fiat in a few moments but very difficult to touch the wealth you stored in Bitcoin or another asset.
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