Get Out of Debt by Automating Your Finances
If you are looking for simple solutions on how to get out of and stay out of debt while building long term wealth, automating your finances can be one easy step in the right direction.
How to get out of debt by automation no longer requires a super genius computer programmer.
The tools are available in all kinds of industries and our encouraged because they save everyone money: from paperless to less of a need for customer service staff, online tools are beginning to reign.
Here are ways you can automate your finances and work your way out of debt: Automate Your Income The first part of the automation is to get your paychecks direct deposited.
Someone will always say they do not trust the bank or they like to see their check, but these are now just excuses.
Have the check automatically deposited, this generally gives you your money 15 hours earlier, but is also part of the larger plan below.
Automate Your Standard Expenses Get as many of your bills as possible to auto withdrawal from your checking account on the day your paycheck goes in.
This will give you the money you have to work with instead of what you think you have.
If you have already done your budget you know what cash you need to save for the two weeks for food and gas.
I like to have this money auto transfer on the same day to another checking account.
Automate Your Savings If you don't have a rainy day fund you need to take a small portion of your income and put it aside to cover those emergencies.
I would have this money transferred to one of the online bank saving accounts because the interest is higher and it requires a little time to get at the money.
The time helps separate the real emergencies from the perceived emergencies.
What is Left Needs to Go On Debt The point of all this automation is for you to know what you have left to put on your debt.
The less time that goes by between your payday and placing the money on debt the less likely it will be to vanish on you.
When you get through this debt problem you will be able to continue the same program only for investing, and this is when you put wealth-building on automation.
Getting out of debt can be a long road, but well worth it and you will come out all the stronger and better able to deal with tough economic times.
How to get out of debt by automation no longer requires a super genius computer programmer.
The tools are available in all kinds of industries and our encouraged because they save everyone money: from paperless to less of a need for customer service staff, online tools are beginning to reign.
Here are ways you can automate your finances and work your way out of debt: Automate Your Income The first part of the automation is to get your paychecks direct deposited.
Someone will always say they do not trust the bank or they like to see their check, but these are now just excuses.
Have the check automatically deposited, this generally gives you your money 15 hours earlier, but is also part of the larger plan below.
Automate Your Standard Expenses Get as many of your bills as possible to auto withdrawal from your checking account on the day your paycheck goes in.
This will give you the money you have to work with instead of what you think you have.
If you have already done your budget you know what cash you need to save for the two weeks for food and gas.
I like to have this money auto transfer on the same day to another checking account.
Automate Your Savings If you don't have a rainy day fund you need to take a small portion of your income and put it aside to cover those emergencies.
I would have this money transferred to one of the online bank saving accounts because the interest is higher and it requires a little time to get at the money.
The time helps separate the real emergencies from the perceived emergencies.
What is Left Needs to Go On Debt The point of all this automation is for you to know what you have left to put on your debt.
The less time that goes by between your payday and placing the money on debt the less likely it will be to vanish on you.
When you get through this debt problem you will be able to continue the same program only for investing, and this is when you put wealth-building on automation.
Getting out of debt can be a long road, but well worth it and you will come out all the stronger and better able to deal with tough economic times.
