By Obi Okere

As the economic climate gets better, more and more people today are returning back to work. For many, the new challenge is rebuilding themselves financially after a time of financial survival. Many young professionals alike have depleted their savings and gotten by with the help of unemployment benefits.

At this point, when one has gone back to work, it can be very easy to only save money if there is anything left over after the bills are paid. For many people, when they get paid they pay everyone else first. They pay the rent, the phone company, the credit card company, the car note, and so on first. If there is only a little bit of cash left over after the bills are paid, the natural assumption is to budget better next time to create an opportunity to save by paying oneself.

The order should be turn-around. You should pay yourself first before everyone else. This means that you should save at least 10% of your earnings in an interest-yielding account first before the bills get paid. Keep that money inaccessible to yourself and watch it grow over time and start earning interest on its own.

To make saving easier, create an automatic payroll deduction into your savings account to force yourself to save without thinking about it. This will help you to start to build your emergency savings back up and find ways to earn more money to afford to save at least 10% of your income.

Obi Okere is a professional life coach. He works extensively with young professionals, teaching them the skills that contribute to professional and personal success. He can be reached at obi@obiokere.com.