Today’s tip for financial freedom is: Automate things.
When you automate things, you don’t need to be disciplined about it consciously! That is why automating things is one of my favorite ways to handle my finances. Every pay period, before I receive my paycheck a big chunk of it is automatically taken out for the 401K and ESPP. The remaining amount gets split up into three different accounts – two for savings and one for regular bills. I have automatic payments set up for all the bills as well. So, by exercising discipline on one afternoon and setting up all these automatic transactions, I save myself the agony of having to be disciplined at the end of every month. Read more from Discipline (or Lack Thereof) and Personal Finance.
Courtesy of Grad Money Matters: This blog is written by a recent graduate, who has come to a stark realization that in the real world money matters! The blog covers a wide range of articles from how-to tips to random musings on diverse topics related to money, career, productivity, frugal living, debt, etc.
July 13th, 2007 at 4:06 am
I have tagged your blog. See the URL for more details.
http://moneyshaker.blogspot.com/2007/07/eight-random-facts-about-adventures-in.html
July 17th, 2007 at 5:09 am
I use automation for bank payments and its very useful for management.
August 6th, 2007 at 1:40 am
Definitely true! It’s not about how much money you make…it’s about how much you keep!
August 10th, 2007 at 1:11 am
I like your website. I think you will find similiar things on our website. Particular the series. Budget your way to billions. Budget your Way to Billions
August 15th, 2007 at 8:22 am
Yes. Yes. YES and amen again brother. This is one of the most important (if not THE most important) things you can do to achieve financial success and relieve stress in your life.
September 11th, 2007 at 8:42 pm
Automation is the key to Making Money. You need to automate as much as possible, both in your personal finance as well as in your investment opportunities. Having your money work for you at all times is the only way to go.
Best of Luck
January 12th, 2008 at 2:30 pm
This is definitely a good idea. When you are trying to lose weight you don’t put a bowl of candy on your desk, so when you’re trying to save money, why would you put your money where it can be easily spent?
January 31st, 2008 at 7:22 am
Automation is a great thing - it’s saved me years of work over the years. Nothing like a good programmer to help with these things!