Heidi is the Director of Behavioral Economics at Financial Health Network, the leading authority on consumer financial health. Heidi leads the application of behavioral insights to design and deliver effective financial health solutions. She established the Financial Health Network’s applied behavioral insights practice, driven by a desire to work directly with businesses creating products and services that touch people’s financial lives each day. Heidi helps companies apply behavioral insights to product and employee benefits design, with the goal of enhancing their impact on overall financial health. She also conducts research with companies on new solutions to assess their potential financial health impact.
When you hear the word “budget,” your first thought may be to think about all of the money you’ll need to set aside to pay others. But not all budgets prioritize spending categories in the same way. The pay-yourself-first budget includes a line item at the very top of the list for what may be your most important spending category: you.
By paying yourself first, you can avoid some of the common obstacles to savings, like overspending and running out of money to put into savings or simply forgetting to put money aside for savings while you focus on other goals.