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Ideas from books, articles & podcasts.
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.
Our laziness too plays a big part in hurting our wallets, like forgetting to pay bills that incur late fees, or overspending on credit cards and paying for subscriptions that are not in use.
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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.
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...
Your investment portfolio can be put on autopilot, making use of the Systematic Investment Plans (SIP).
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:
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