Life Kit Get Started Saving
Apr 29, 2019
Saving money can be a challenge due to our natural instincts favoring instant gratification. Automating savings is a game changer in managing finances effectively. Discover smart saving strategies, even when feeling overwhelmed, and learn how financial responsibility can enhance romantic relationships. Small, consistent efforts lead to greater stability and happiness. Plus, get tips on future investment strategies and ways to save on everyday expenses!
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Present Focus Bias
- Humans are hardwired to focus on the present, like cavemen worried about immediate survival.
- This makes saving money difficult, as it requires focusing on future needs.
Automate Savings
- Automate your savings to avoid relying on willpower.
- Set up automatic transfers to savings and retirement accounts.
Split Savings
- Split your savings into different accounts: retirement, emergency fund, and a fun account.
- Prioritize employer-matching retirement contributions for free money.
