Day 4: Automating your finances
Investing a few hours into automating your finances today can save you a tremendous amount of time, money, and headaches in the future. Here are five powerful ways to automate your finances and get ahead of your money matters:
Create a consistent savings habit by scheduling automatic monthly transfers from your checking account to your savings account. This simple step can help you build your emergency fund, save up for specific goals, and avoid the temptation to spend money you haven't earmarked for savings.
Avoid late payment fees and keep your credit score soaring by setting up automatic bill pay for your monthly and recurring bills. From rent or mortgage payments to utilities and subscription services, automate it all. You'll never have to worry about forgetting a due date again!
Get ahead of the game and prepare for your financial future by setting up automatic deposits into your investment accounts. Whether it's your TSA, RRSP, or another account, regular contributions can help you grow your wealth and ensure a comfortable retirement.
Stay on top of your spending and subscriptions by using an app to manage it all. Apps like TrueBill and Bobby help you keep track of your subscriptions and spending habits, so you can adjust your budget and save money where you can.
Eliminate the stress and hassle of tax season by outsourcing some of the most tedious tasks. MileIQ is perfect for those who use their cars for business purposes, FreshBooks can help with invoicing, QuickBooks can track your finances and expenses, and to care of all your receipts.
