Automate savings from "summary" of The Dumb Things Smart People Do with Their Money by Jill Schlesinger
Automating savings is a simple concept that can have a profound impact on your financial well-being. It involves setting up a system that automatically transfers a portion of your income into a savings or investment account without you having to actively think about it. This method takes advantage of the fact that most people are more likely to save money if it happens automatically, rather than relying on willpower to make manual transfers. By automating your savings, you remove the temptation to spend the money before you have a chance to save it. This can be especially useful for those who struggle with impulse purchases or find it difficult to stick to a budget. With automation, you can ensure that a portion of your earnings goes towards building your savings without having to actively resist the urge to splurge. Setting up automatic transfers is a straightforward process that can usually be done through your bank or financial in...
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