Automate Your Savings - Deepstash

Bite-sized knowledge

to upgrade

your career

Ideas from books, articles & podcasts.

Automate Your Savings

Automate Your Savings

The best way to attain financial success is not about having a budget or avoiding debt, or even choosing the right investments, but about having a system that makes automatic wealth creation possible for you while you sleep.
Investors make a lot of stupid financial decisions based on emotions and sentiments and putting money on ‘autopilot’ saves us from giving to temptation and laziness.

STASHED IN:

294

MORE IDEAS FROM THE SAME ARTICLE

Start by saving a certain amount every month from your paycheck (using automatic transfer), and also work towards building or completing your emergency fund.

Automatic behaviours trigger better decisions and make the entire process seamless. One thing compliments the other, and good habits give space to other good habits.

Your investment portfolio can be put on autopilot, making use of the Systematic Investment Plans (SIP).

Will power and self-control are like a muscle that can be strengthened. The more we practice self-control, the better we become in implementing the same.

Use a rewards credit card, online bill pay or automatic bank draft to put all your bills on autopilot. Be aware that using your bank account for automatic payments has some concerns like:

32 Reactions

Comment

It's time to

READ

LIKE

A PRO!

Jump-start your

reading habits

, gather your

knowledge

,

remember what you read

and stay ahead of the crowd!

Takes just 5 minutes a day.


TRY THE DEEPSTASH APP

+2M Installs

4.7 App Score