Question

what do you know?
question 4 of 5
what does \pay yourself first\ mean?
select a response submit your response.
pay down debt before doing any spending
put money in your savings account before you pay other expenses
split your money according to how much you want to spend on each bill or expense
spend your money on your wants before you spend on your needs

Explanation:

"Pay yourself first" is a financial concept. It emphasizes the importance of saving. By putting money in savings before handling other expenses, one builds financial security. Paying down debt (first option) is about debt management, not the core of "pay yourself first". Splitting money (third option) is a general budgeting approach. Spending on wants before needs (fourth option) is the opposite of good financial practice. The second option directly aligns with the idea of prioritizing personal savings, which is what "pay yourself first" is about.

Answer:

Put money in your savings account before you pay other expenses.