rich & REGULAR with Kiersten and Julien Saunders
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!
36:55
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Quick takeaways
- Automating savings transforms financial habits by making saving a routine, eliminating the need for constant decision-making and oversight.
- The concept of 'paying yourself first' encourages treating savings as a priority expense, akin to bills, to enhance future financial stability.
Deep dives
The Power of Automation in Savings
Automating savings is a crucial strategy for changing one’s financial life by simplifying the savings process. By setting up automatic deductions or transfers from income sources, individuals can ensure that they prioritize saving without the need for constant oversight or manual intervention. This method reduces the burden of decision-making, as it takes the willpower out of the equation, mitigating the risk of being distracted by daily expenses or impulses to spend. Essentially, automating savings transforms it into an effortless routine, fostering better financial habits over time.
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