WHY IT IS IMPORTANT: Auto-saving allows you to have money sent to a financial account of your choice and ensures your monies are out of sight and therefore out of mind. When you auto-save (preferably in an account not used for everyday expenses), you are able to put your money aside and watch it grow. Sometimes the best way to save is to condition your mind to think about doing more with less.
KEY POINT(S): Automatic Saving is, therefore, putting money away before you are able to spend it from your “everyday” purchases and or payment account. Auto-saving can be most effective when monies are with financial institutions that are not easily accessed.
MY EXPERIENCE: I started auto-saving in my late twenties so that I could put my mind in a place to work with less money than I actually had. My first couple of attempts failed due to mismanagement as I would take money out for necessary and sometimes unnecessary desires. I recognized that putting monies away where funds were not easily accessed via a debit card worked best for me. As a matter of fact, where I currently auto-save requires me to drive a minimum of 25 miles to the closest ATM to avoid withdrawal fees.
QUESTIONS FOR YOU: Do you trust yourself with money? Do you currently auto-save? What methods work best for you?
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Julie Carter, Recruiter.🧐 Coach.💪🏾 Mother.🙋🏾♀️🙋🏾♂️🐕 Professional.👩🏾💻 Wife.💍 Imperfect. 🙃Living to inspire so you may inspire to live.🤝🏾 You ARE NOT alone!🤗
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