What does the phrase "Pay Yourself First" encourage individuals to do?

The phrase "Pay Yourself First" encourages individuals to prioritize their savings by routing a portion of their income directly to savings or investment accounts as soon as they receive their paycheck. This approach ensures that saving becomes a regular habit and is treated as a fixed expense, similar to rent or utilities. By automating this process, individuals are less likely to spend that money impulsively and can build their savings consistently over time.

This strategy emphasizes the importance of being proactive about one's financial future, as it promotes the idea that individuals should allocate funds for savings before addressing discretionary spending. In contrast, the other choices suggest behaviors that would not effectively foster long-term financial health, such as spending freely, delaying savings, or focusing on high-risk investments without a solid foundation of savings.