For many people, saving money is hard. Automating the process can make it much easier, painless, and effective.
Whether you struggle because you’re living paycheck to paycheck or because you have a tendency to spend whatever you have, automating your savings can help you get a solid start on your rainy day fund—without all the struggle.
Here are four reasons you should automate your savings.
It Removes the Temptation to Spend
When you set up automatic savings rules, you’ll be saving without having to think about it. The money will be moved from your account before you even have a chance to spend it, just like any other purchase. This means you can build up your savings account without having to think about it.
It Frees Up Your Time
As they say, time is money! Many people spend hours thinking about how they should save money. Then they spend time each week doing the actual work of moving that money around.
Automated savings apps give you back that time. You’ll set your parameters and those will be executed by the app on your set schedule, and you won’t have to think or act on it!
It Protects You from Fees and Unexpected Expenses
Many people struggle with overdraft fees, bounced checks, and other money-related woes. When you automate your savings, you can prevent those headaches in a number of ways. First, you’ll set up a nice little nest egg for yourself so that you can move money around to if you have an unexpected expense. You’ll also be able to reduce the likelihood of these things continuing to happen.
It Frees You From Guilt
Ever feel like you should be saving or that you’re far behind where your peers are in terms of their savings accounts? You’re not alone!
Setting up your automated savings app will help you start your nest egg and free you from the feeling that you should be saving without really knowing how to do it.
Ready to get started saving with an automated app? Check out our article on the topic here.
Source: Having Trouble Saving? Here’s 4 Reasons You Should Automate It – LifeSavvy
By Hayley Milliman
Techylawyer and its authors do not claim to have written this article, we acknowledge the works of the original author