Ep 184: How to automate your savings (and finally get ahead)
Oct 14, 2024
Discover the secrets to automating your savings and finally getting ahead financially. Learn why the mantra 'pay yourself first' is crucial and how to make it a habit rather than a chore. Explore practical automation methods to effortlessly save and invest. Find out how Roundup Apps can help you save by rounding up purchases, and uncover the benefits of making flexible payments on high-interest debt. Turn unexpected funds into opportunities for growth and take control of your financial future!
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question_answer ANECDOTE
Social Security and Inflation
Listener Beyond the Sun learned that Social Security income is adjusted for inflation.
They expressed relief at this discovery on the Rich & Regular YouTube channel.
insights INSIGHT
Counterintuitive Saving
"Pay yourself first" can be counterintuitive and emotionally challenging.
It requires trusting automated systems rather than constant tweaking and fiddling.
question_answer ANECDOTE
Abs Analogy
Kiersten uses the analogy of "abs are made in the kitchen."
She emphasizes that similar to fitness, financial health requires focusing on the less obvious aspects like nutrition and consistent savings habits.
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Atomic Habits by James Clear provides a practical and scientifically-backed guide to forming good habits and breaking bad ones. The book introduces the Four Laws of Behavior Change: make it obvious, make it attractive, make it easy, and make it satisfying. It also emphasizes the importance of small, incremental changes (atomic habits) that compound over time to produce significant results. Clear discusses techniques such as habit stacking, optimizing the environment to support desired habits, and focusing on continuous improvement rather than goal fixation. The book is filled with actionable strategies, real-life examples, and stories from various fields, making it a valuable resource for anyone seeking to improve their habits and achieve personal growth[2][4][5].
Cashing Out
Cashing Out
Win the Wealth Game by Walking Away
Julien Saunders
Kiersten Saunders
In "Cashing Out: Win the Wealth Game by Walking Away," Kiersten Saunders and Julien Saunders discuss the importance of understanding your risk tolerance and knowing when to take profits in the ever-changing financial landscape. The book emphasizes the cyclical nature of wealth creation and the need for a strategic approach to investing, rather than relying on luck or short-term gains. It encourages readers to develop a personal definition of "enough" and to prioritize financial well-being over endless accumulation. The authors provide practical advice and strategies for navigating the complexities of the modern financial world, empowering readers to make informed decisions and achieve their financial goals. The book's core message is about building a sustainable financial future by understanding your own needs and risk tolerance, and not getting caught up in the hype of short-term gains.
This episode is for anyone who's ever said, "I wish I could just save more money" because we're spilling the tea on how it’s done (and more specifically, how to automate it)
PAY YOURSELF FIRST. Yes, it sounds simple, but it's the kind of simple that's surprisingly difficult to pull off when you're battling bills, student loans, and a dozen ads featuring the latest shiny thing every time you look up. That's where automation comes in. We're talking about setting up systems that make saving money a habit, not a chore.
We'll break down why "pay yourself first" isn’t just another cheesy motivational slogan, 4 different ways to automate your savings and investments, how you can use your raises and windfall money to your advantage, and a way to apply ‘pay yourself first’ to your everyday expenses that can actually lead to major savings.
Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube. Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life.
rich & REGULAR with Kiersten and Julien Saunders 