Once we automate our finances, and our investing specifically, we can focus on other important aspects of our lives with the assurance that we are well on our way to Financial Independence. Our stress levels may decrease while our account balances increase with regular contributions coupled with the power of compound interest. This lesson not only describes why automation is important, but gives specific guidance on how we can incorporate automation into our FI plan and other aspects of our lives.
Read: Your Automatic Investment Plan by David Weliver of www.moneyunder30.com
Read: Automation and Organization: A Recipe for Success by Cody of flytofi.com. This blog post describes how we can use automating in many aspects of our life, including finances.
Watch: MMS009: Tips for Automating Your Finances by Kyle Prevost of moneymastermindshow.com
Listen: Episode 017: Automating Your Finances by Chris Browning of popcornfinance.com
Read: Should You Automate Your Finances? by Liz of lessdebtmorewine.com
Take Action: Based on the resources provided in this lesson, determine what steps you can take today to set up automated payments and/or transfers to reduce the number of routine financial decisions/actions you make. Then, over time, become more assertive and invest a higher percentage of your income.
Watch: David Bach’s 7 Places Your Money Needs To Go Automatically by David Bach of davidbach.com on YouTube
Quote: “The investor’s chief problem and even his worst enemy is likely to be himself.” – Benjamin Graham