Putting your savings on autopilot is the best way to ensure that you really do amass any savings at all. The thing is, most of us are slightly lazy and weíre just so busy that itís hard to think of tomorrow. But you can save without any pain if you automate it.

  • Pay Off Consumer Debt First ñ If you still have high interest cards, you need to put any extra money you have into that before you start a savings account.
  • Build Your Emergency Fund ñ If you do not have an emergency fund, you should build that before you save anywhere else. Most of the time an emergency fund should be right in the account that will need it, as you need to be able to move it quickly and without penalty.
  • Fund Your Short-Term Savings ñ If youíre saving for a car, a house, education, or something that youíll use in the next year or so, youíll want to fund that too. There are special cards that will revert some of your money to savings.
  • Fund Your Long-Term Savings ñ After all the above is eliminated, youíll want to add to your long-term savings. Long-term savings may be savings for something that will happen in five years or more.
  • Fund Your Investments ñ Investments are always considered long term and in this case, we are referring to this as retirement savings. Retirement savings is something you should start working on with your very first job. Try to save 10 to 15 percent of your pre-tax income in investments, assuming you started with your first job or at least in your low 20s.
  • Set Up Payments with Your Bank ñ Set up auto withdraws for all the above via your bank. You can also set these things up with your payroll department if you want them to send the money directly to the accounts mentioned.
  • Increase Your Savings ñ At least yearly, evaluate how your investment accounts are performing to find out if youíre meeting your goals. You should know how much you want to have by the time you reach a particular age. And if youíre not on the path, you can correct it now by increasing your automatic investment payments.
  • Check the Fees ñ Always double check how much it cost to do any transactions in your investment accounts. Some accounts charge per transaction, so if thatís the case you will want to save the money and make fewer transactions. If they charge nothing for deposits, that opens you up to deposit any windfalls or raises right away.

What do you think about putting your investments and savings on autopilot? Do you think this is a good plan for the future? And what do you think the pros and cons are of investing automatically? If you invested just $100 a month starting now for the next 30 years, what would you have? Itís a good thing to imagine the potential and understand the benefits of automation so that you can start investing now.

RELATED ARTICLESMORE FROM AUTHOR

137 COMMENTS

  2. Модуль “Совместные покупки” – это уникальная система ведения своего бизнеса использующая самый распространённый и бесплатный CMS для создания конференций различной тематики.
    Простота создания и обновления встроенных в функционал модуля «Совместные покупки для форумов PHPBB3 от http://www.dim-studio.ru» каталогов позволяют всегда поддерживать товары закупок в актуальном состоянии, как по ценам, так и по наличию. Это, несомненно, увеличивает объемы продаж Организаторов и деловую активность Участников совместных покупок.

  34. After days of watching the protests only from the American point of view, I really appreciated reading the broader perspective you present in your post. Racism is alive and well all over the world. Leisha Roderic Lizzy

  46. I all the time used to study paragraph in news papers but now as I am a user of web thus from now I am using net for articles, thanks to web.| Glenda Ernie Powe

  49. Good post. I learn something totally new and challenging on websites I stumbleupon on a daily basis. It will always be interesting to read articles from other writers and practice a little something from their web sites. Kora Evyn Minsk

  53. After looking at a number of the articles on your web site, I honestly appreciate your way of writing a blog. I bookmarked it to my bookmark site list and will be checking back in the near future. Take a look at my website as well and tell me your opinion. Ora Jamaal Bainbrudge

  57. Edmodo zappos palantir trulia stypi hulu zooomr kazaa vimeo wufoo akismet zlio, trulia eskobo unigo greplin tumblr bebo zynga meevee diigo. Stypi fleck xobni zlio vimeo zoho blekko, spotify edmodo heekya mzinga meevee plaxo jibjab, mobly eduvant plickers jibjab doostang. Patrizia Clim Buzz

  61. My brother suggested I might like this website. He was entirely right. This post truly made my day. You cann at imagine simply how much time I had spent for this information! Thanks! Valeria Waverly Bekki

  64. Dr. K, you brighten my life when I read the things you post. You are an amazing man, and I am grateful I know you. It is such a shame that more people are not as caring as you are. You are a true blessing to this world, and to our furry friends. THANK YOU for being YOU! God Bless You. Chantalle Carling Alli

  66. No matter if some one searches for his required thing, thus he/she desires to be available that in detail, thus that thing is maintained over here.| Olivia Hayyim Sices

  72. Greetings! Very helpful advice within this article! It is the little changes that produce the most important changes. Many thanks for sharing! Leigha Reggis Klecka

  74. Vitiate to today, when there is a glut of anti aging non-critical be at to products like nici.gojigezicht.nl/dokters-advies/verse-citroen-thee.html creams, serums, gels and powders that all title to be this well-head of youth. Some be employed murva.gojigezicht.nl/help-jezelf/fruitboom-in-pot.html their anti aging obeahism into done with ingredients that beget a ton of well-ordered check lilam.cremegoji.nl/hulp-van-de-dokter/botox-package-insert-pdf.html and opinion on how peel ages to bankroll b topple them up and some are speculative hype. Olive Rafi Timmons

  77. You made some nice points there. I looked on the internet for the subject matter and found most individuals will agree with your site. Lulu Silvio Gilliette

  79. Generally I do not read article on blogs, however I would like to say that this write-up very pressured me to take a look at and do so! Your writing taste has been surprised me. Thank you, quite nice article. Jackquelin Dewain Tomkins

  80. We stumbled over here from a different web address and thought I may as well check things out. I like what I see so now i am following you. Look forward to looking over your web page again. Veriee Cale Nibbs

  82. fantastic issues altogether, you simply gained a new reader. What may you recommend in regards to your submit that you simply made a few days in the past? Any positive? Amil Estevan Danit

  86. Attractive component of content material. I merely stumbled upon your internet internet site and in accession capital to assert that I acquire in fact appreciated account your blog website posts. Any way I will end up being subscribing in your feeds or even I achievement you get right of entry to continuously quickly. Carmela Grannie Alvan

  88. The material presented below is here to assist any burgeoning football player with the process of refining and honing their game play. Florida Matthieu Gesner

  91. Its like you read my mind! You seem to know so much about this, like you wrote the book in it or something. I think that you can do with some pics to drive the message home a little bit, but other than that, this is magnificent blog. A great read. I will definitely be back. Eddi Kevin Brenn

  92. While I agree with you on the need for sensitisation and participation, genetic modification is not the only path to sustainable agriculture and food security. Even the EU is cautious with GM crops. So it is not just the developing countries that are cautious. Gilberte Brigg Shina

  93. Hi there. I discovered your web site by the use of Google at the same time as searching for a similar matter, your site came up. It seems good. I have bookmarked it in my google bookmarks to come back then. Ferne Buckie Gotthelf

  100. [url=https://kloviagrli.com/]viagra half life[/url] [url=https://vigedon.com/]viagra and lisinopril[/url] [url=https://llecialisjaw.com/]does insurance cover cialis[/url] [url=https://jwcialislrt.com/]black cialis[/url] [url=https://jecialisbn.com/]viagra vs cialis vs levitra[/url]

  101. [url=https://ljcialishe.com/]cialis 10mg[/url] [url=https://cialisvja.com/]cialis generic 2017[/url] [url=https://viagraonlinejc.com/]best viagra[/url] [url=https://viagratx.com/]how much does generic viagra cost[/url] [url=https://buycialisxz.com/]cialis soft[/url]

LEAVE A REPLY

Please enter your comment!
Please enter your name here