How can I automate my savings to make it easier to stick to my plan?
Curious about customizable personal savings
There are several ways to automate your savings and make it easier to stick to your plan:
1. Set up automatic transfers: Most banks allow you to set up automatic transfers from your checking account to your savings account on a regular basis, such as weekly or monthly. You can choose the amount you want to transfer and the frequency of the transfer.
2. Use a savings app: There are several savings apps available that can help you automate your savings. These apps can round up your purchases and transfer the spare change to a savings account or allow you to set up automatic transfers on a regular basis.
3. Set up a payroll deduction: If your employer allows it, you can set up a payroll deduction that automatically deducts a certain amount of money from each paycheck and puts it into a savings account.
4. Use a roboadvisor: Some roboadvisors, such as Betterment and Wealthfront, offer a feature called "SmartSaving" that automatically saves and invests your money for you based on your goals and risk tolerance.
By automating your savings, you can make it a habit and save money without even thinking about it.