Automate your savings from "summary" of The Wealthy Barber by David Barr Chilton
One of the most effective ways to build wealth over time is by setting up automatic transfers from your checking account to your savings account. By automating your savings, you remove the temptation to spend that money on unnecessary purchases. This simple strategy ensures that you consistently set aside a portion of your income for future needs.
When you automate your savings, you are essentially paying yourself first. Instead of waiting until the end of the month to see if there is anything left to save, you prioritize saving by transferring a set amount to your savings account as soon as you receive your paycheck. This approach helps you develop a habit of saving and makes it easier to reach your financial goa...
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