Rich Habits Podcast

102: Building Automation With Your Money

15 snips
Jan 27, 2025
Discover the art of automating your finances with expert tips on spending, saving, and investing. Learn how automation can relieve the stress of managing bills and enhance your budgeting strategy. Dive into the world of automated investing, where emotional biases are minimized, and smart financial practices can empower young professionals facing debt. Uncover effective strategies for tackling student loans and the importance of early investments. Plus, debate the role of financial advisors versus self-management in today's financial landscape.
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ADVICE

Automate Your Bills

  • Automate all your bills to gain clarity on your spending.
  • Calendar your payments to avoid overdrafts and surprises.
ANECDOTE

Overdraft Fees

  • Robert had a client with over $100,000 in overdraft fees because they didn't automate or budget.
  • This highlights the importance of proactive money management.
ADVICE

Automate 401k Contributions

  • Automate your 401k contributions, especially if your employer offers a match.
  • Prioritize paying off high-interest debt before investing in a 401k.
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