I pay myself 10% of ANY "income" that comes in by Tuesday's if possible.
This rule is set in concrete except if it rains.

For example, even as trivial as a refund on bottles, cans and milk cartons,
( S.A. does 10 cents refund on milk cartons, beer and soft drink containers),
and I have say $50.00 worth of refunds, $5.00 goes into a special 10 percent portfolio. I'm left with $45.00 to do whatever. The principle is, it took effort to get the $50.00, that effort has to be rewarded, 10%.

Ok, at the races, if I win $100, as soon as that $100 is grabbed, $10.00 is removed instantly and I play with $90.00
I never use the 10% portfolio to chase losses or bet with..it is not part of the betting equation, yet it's open for improvisation. It's simply a choice.

Over time, this 10% portfolio becomes a sizable amount and can be dipped into when things become awkward. But keep refilling it.

The experience and benefits, plus the personal achievement is rather gratifying using this simple 10% portfolio rule.


The ideas come from a book, it's been mentioned here before ages ago,
"The richest man in Babylon"....

I only do the first chapter or 2nd, where some history and the principle of the 10% is explained in more detail.
The rest of the book goes into loans etc...boring stuff to I may add.

Unfortunately, the laws of the land where tax and superannuation is concerned, "they" take your money first from the gross amounts

I would like to see a change if I was PM, where my gross earnings is my choice of what I do with it, therefore I take 10% out FIRST, and the Gov. can have it's taxes etc calculated on the remaining 90%.
It's MY money, I worked/gambled for it in my time,( effort), therefore it ought to be my constitutional right to pay myself first.