Simplify Your Finances with Automation
Taking control of your finances can seem like a daunting task, but what if you could make it easier by putting certain aspects on autopilot? Experts agree that automation is a game-changer when it comes to simplifying your finances and building wealth.
Focus on the Big Picture
Certified Financial Planner Samuel Rad explains that automation creates a stress-free environment, allowing you to focus on meaningful financial decisions rather than day-to-day bills. By automating routine tasks, you conserve willpower and attention, making it easier to make smart financial decisions.
Make Savings a Priority
Automating your savings habits is a surefire way to pay yourself first and stay on track with your savings goals. Brittney Knies, a Certified Public Accountant, credits automation with saving over 40% of her net income last year. Aaron LaRue, a product manager, has saved $9,500 in a year and a half by automating his efforts to save for a home down payment.
Invest with Ease
If you’re funding a retirement account, you’re already auto-investing. To maximize your returns, choose investments that align with your financial goals and increase your contributions over time. Consider using “robo advisors” like Betterment or Wealthfront, which construct and maintain low-cost portfolios based on your age and risk profile.
Streamline Your Bill Payments
Enable automatic bill-pay for your expenses, from utilities to credit cards. Justin Malik, an entrepreneur, has been doing this since 2010 and never has to worry about remembering to pay his bills. Consistent, on-time payments also help maintain good credit and avoid late fees.
Smart Shopping Strategies
Automate your shopping for personal care and home products using programs like Target Subscriptions, which offers discounts and free shipping. Ali Betts, a life coach, automates her food shopping via Door-to-Door Organics, saving her time and money. Be cautious of oversubscribing to services, but automation can help you save money by buying in bulk and avoiding impulse purchases.
Stay on Top of Your Finances
By automating routine tasks, you can free up time and energy to focus on more important things. Remember to regularly review your transactions to detect any fraud or errors. With the right tools and strategies, automation can be a powerful ally in achieving financial success.
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