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16 Reasons You Can’t Escape The Poverty Trap

Savings are not your priority

But they should be. “In my own life, I saw the biggest financial stagnation when I wasn’t paying myself first, even when I had a nice paying job,” recalls personal finance expert Philip Taylor of PT Money. That’s why he recommends making saving a priority. Put some money aside every time you receive your salary. It’s not only your present but also your future at stake.

To make sure you don’t skip this extremely important step, set up automatic deposits or transfers to your savings account.

RELATED: Want to Save Money? Here Are 16 Effective Ways to Trick Yourself Into Doing It!

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