365 Days Of Financial Capability – Day 14
If you tend to pay bills late or aren’t saving enough, automating your finances can help you better manage your money.
Many times we know all the right things to do bit we don’t get to do them because we haven’t created the systems that allow us to implement our plans and budgets. Also, if you relied on your will to do some of the things that need to be done, you may drop the ball a few times.
When you automate your finances, you are setting up your bill payments and savings accounts to be paid every month automatically; you’re basically putting your money on autopilot. By automating your finances, you can ensure you’re paying your bills on time and avoid costly late fees. Once set up, all you’ll have to do is adjust things from time to time to make sure everything is going according to plan.
Basic systems to setup –
+ Designate a bank account for the broad components of your budget – living expenses, lifestyle expenses & savings.
+ Set up direct debits to auto pay your bills, investments and giving.
About Thrive Financial Advisors
We are a financial education company with the mission to spread the message of financial capability – the knowledge, confidence, and opportunity to act on financial matters.
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