Automate Your Savings Discipline (Video)

Automate your savings so you don’t have to discipline yourself to sacrifice some of your check each and every payday! We know that it’s important to save money, pay down debt, and invest for retirement. However, sometimes it seems that we don’t get around to following through on our good intentions. Why make it harder on yourself to save?

Automate Your Savings

Our attention is pulled in a thousand directions daily. If we wait until it crosses our minds to transfer money from our checking into our savings accounts, it may never happen. By setting up automatic transfers to happen weekly, bi-weekly, or monthly, the saving habit happens without any effort from us. The only effort expended is the initial set up of the recurring transaction, which is minimal.

My husband and I are big fans of “mindless saving.” We have automatic transfers set up between our checking and savings accounts to sweep money every pay period into savings. Even though these transfers happen 52 times per year, I only had to set it up once.

By setting up automatic transfers from your paycheck to your savings account every pay period, you automate your savings discipline. This also works for paying down your debt! You can set up recurring transfers to pay extra on your mortgage or credit cards. You’ll only need a tiny amount of discipline to set this up ONCE, rather than making yourself do this every pay period.

The biggest objection I receive from this suggestion is, “But what if I end up needing the money for bills this week?” It’s pretty simple to transfer it back to your checking account if you really need it. But chances are you won’t even miss it.

Automate your savings discipline and make it easy to achieve your money goals! What are you waiting for? Go set up your automatic transfer right now!

Wondering if I’m the right money coach for you? Watch my free video training to find out how I empower my clients to master their money and become a financial success.

Comments 10

Rebecca Bryant

May 5, 2016 at 4:05 pm

Great idea. We have a little put away in the savings every pay period but i didn’t think to have an extra little bit added to mortgage payment or other bills.

Milena

May 5, 2016 at 7:12 pm

I agree. We automate several of our bills and it has made life and saving so much easier!

Jocelyn @ Hip Mama's Place

May 5, 2016 at 8:10 pm

Great tips on money management here. My husband and I have started really being serious about saving for our retirement so we have a set amount every month auto deposited to our retirement account. Discipline in handling your money is key to a better financial future! 🙂

Ashley @irishred02

May 5, 2016 at 8:27 pm

This is a great idea, it forces you to do what needs to be done with your money.

Carol Bryant

May 6, 2016 at 12:33 am

I started managing my money better last year. Paid off my student loan and have ourselves on a budget.

Rose

May 6, 2016 at 6:21 am

My son and his wife are so good at things ike this. I think it’s important o consider.

Amanda

May 6, 2016 at 9:52 pm

I really need to stop doing so much paper with my finances. Going automated and online would probably be very helpful!

Dawn Nieves

May 6, 2016 at 10:46 pm

This is such a great tip. We do this and once you start, you don’t even miss it!

laura londergan

May 9, 2016 at 12:05 am

you shared some great tips – I need to look into saving more all of the time & maybe consider this

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