Automate for success

January 21, 2020

Our main goal is to save money so we need to designate the fixed amount of our income directly to the specific accounts so it happens automatically, which means we will be less tempted to spend it.

Studies show that taking steps now to limit choices in the future is a very effective strategy. Best of all, it bypasses the need to use self-control in the moment as we cannot rely on willpower alone.

So, once you have your exact figures that are going to go into each account, you can contact your employer and ask them to transfer the funds directly into each account directly on payday or alternatively, you can set up the transfers within your own account, for e.g. if your income hits the account on Monday each week, then set up the automatic transfers of each of these figures to go into the accounts on Monday night. If you’re self-employed and your income isn’t paid in regular instalments please contact me at [email protected] to discuss a different process.