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| Financial Automation |
| Written by Grittles |
| Thursday, 01 July 2010 13:39 |
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I have been asked to elaborate on what it means and what it looks like to automate your finances. I am currently working on putting together an interactive diagram that you can follow in order to put your finances on autopilot. Be looking for it by next week. Most people hate paying bills, writing and send checks, and keeping track of their budget every month. This stuff takes time and is not very fun. This is why it is so important to set everything up on a system that takes care of everything for you. I personally have most of my finances automated and I'm working on get the rest of them taken care of. There are some bills and things that are able to be automated but for those I simply use online bill pay through my bank which makes it super easy and fast. I try to put as many bills on my credit card as possible so that I can get the free cash back rewards, and then I set up my credit card to be paid in full every month so that I do not rack up any interest. I also have money going into my savings account on a weekly and monthly basis. These little bits of money add up fast and it fun see the small nest egg grow bigger and bigger all the time... almost effortlessly. Timing is key in all of this. You need to make sure you have the money coming into your account before it goes out. Figure out when you get paid, allow three days after that for the money to settle and then you can have portions of the money sent out to where ever it needs to go on an automatic basis. Like I said, I will be adding all of this in more detail into the 5G Plan. Be looking for it soon. |



