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10 Benefits Of Automating Your Savings To Help You Build Wealth

Jul 27, 2023

Remember that happy feeling when you stumble upon forgotten money in your jeans pocket?

But now picture this happening often and with a lot more cash! 

Yes, you heard it right! There’s a powerful way to recreate that joy on a much bigger scale.

Woman sitting with child on a could near a yellow pillow placing money inside a pink piggy bank for automating your savings
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So, let me introduce you to the magic of automatic savings – a simple and effective mindset of “set it and forget it.” 

Automating your savings is a game-changing money-saving method that allows you to save effortlessly, without feeling any burden.

What is Automated Savings?

Automating your savings is a self-set-up system in which you choose a fixed amount of money that is automatically deposited into your savings account.

Here’s how it works: You set the amount you want to save and how often you want to save it – could be weekly, monthly, or whenever you get paid.

Then, like clockwork, your chosen amount magically appears in your savings account without any effort from you!

With this genius way to save your saving becomes a breeze. No more stressing over remembering to save or feeling overwhelmed by financial decisions.

Whether you’re saving for that dream vacation, creating an emergency fund, or planning for the future, automating your savings can help you achieve your goal!

This is the key to a brighter financial future, and you’ll wonder how you ever managed without it.

10 Benefits of Automating Your Savings

1. No More Forgetting:

Say goodbye to the days of forgetting to save!

Automating your savings ensures that money goes into your savings account like clockwork, making saving a stress-free habit.

2. Consistency Wins:

When it comes to saving, consistency is the secret sauce! Automatic transfers keep you on track, building your savings bit by bit, and creating a powerful impact over time.

3. Time-Saver Extraordinaire:

Why waste time manually transferring money when you can automate it in a snap? Automation gives you more time to focus on what truly matters in life.

Piggy Banks with Money graphic for Benefit of Automating Savings

4. Achieve Multiple Goals:

With multiple savings accounts, you can conquer various goals at once – from that dream vacation to building an emergency fund. Let your automatic savings multitask like a boss!

5. Progress Made Fun:

Celebrate your progress like a champion! Watching your savings grow automatically brings joy and motivation – every little milestone counts!

6. Beat Temptations:

No more inner battles with temptation! Automating savings keeps your money safe and sound, helping you to resist those impulsive purchases.

Square Cube Stainless Steel Piggy Bank with $100 being inserted
Stainless Steel Savings Bank to Help Budget and Save – Must Break to Access Money

7. Future Security:

Building your financial fortress is essential! Automatic savings ensure you’re prepared for whatever life throws your way, giving you peace of mind and a secure future.

8. Hands-Free Investing:

If you’re looking to invest, automation has your back!

Set up regular contributions to your investment account and let your money work its magic.

9. Flexibility and Control:

You’re the boss of your savings journey! Adjust your automated savings at any time to match your changing goals and priorities.

10. Financial Freedom Ahead:

Saving without even feeling the burden? That’s the magic of automation!

Let it lead you to the ultimate destination: financial freedom and a life of abundance!

How to Create Automated Savings

Just like you set up automatic payments for household expenses, automating your savings will turn into habits that will make a huge difference in your financial life. 

Whether it’s a small or substantial amount, this method will help you save a ton of money without you even realizing how fast your money is growing.

Are you ready to take charge of your financial future?

Let’s dive into the specific details and steps on how you can make saving a breeze and achieve your financial goals with ease:

STEP 1 – Set Up Direct Deposit: 

Get that savings party started by having a portion of your paycheck directly deposited into your savings account – it’s like a secret stash you won’t even miss!

STEP 2 – Create Multiple Savings Accounts: 

You’re not limited to just one savings goal – create separate accounts for your dreams! Whether it’s that dream vacation or future investments, you’ve got this!

STEP 3 – Start Small and Increase Over Time: 

Remember, every journey begins with a single step. Start with a small contribution, and watch it grow as you gain momentum!

STEP 4 – Use Employer Retirement Plans: 

Your employer’s retirement plan is a gift! Contribute and watch your nest egg grow as you secure your future like a pro!

STEP 5 – Use Automatic Transfers: 

Let technology work its magic! Set up automatic transfers, and watch your savings grow like clockwork!

STEP 6 – Coordinate with Pay Raises: 

Celebrate that raise in style! Treat yourself by increasing your savings contribution and watch your money bloom!

Infographic with Robotic hands over a piggy bank showing how technology can help you save your money

STEP 7 – Leverage Apps and Fintech Tools: 

Embrace the digital world!

Fun apps can turn your savings journey into a game – enjoy the process and watch your savings grow!

STEP 8 – Save Windfalls and Bonuses: 

Unexpected money is like a delightful surprise! Treat yourself a bit and save the rest – it’s a win-win situation!

STEP 9 – Avoid Temptations to Withdraw: 

Stay strong, my friend! Let your savings grow undisturbed and avoid dipping into the cookie jar!

STEP 10 – Reevaluate and Adjust: 

Life is ever-changing, and so are your goals. Regularly review your progress and adjust your savings to match your amazing aspirations!

STEP 11 – Stay Committed to the Process: 

You’ve got this! Stay committed and keep your eyes on the prize – a bright financial future is just around the corner!

STEP 12 – Emergency Fund First: 

Safety first! Prioritize building that emergency fund, and give yourself peace of mind for any rainy day.

STEP 13 – Celebrate Savings Milestones: 

Every step forward deserves a celebration! Acknowledge your achievements – you’re rocking this financial journey!

Also, don’t forget about the power of using the Rakuten web browser extension. The Rakuten extension is a great way to automatically save when you make any online purchases. Check out the Top 10 Reasons to Use Rakuten and get paid to shop!

Final Thoughts

Remember, saving is not just about the numbers – it’s about making your dreams come true and securing your future. Embrace the journey, stay positive, and know that every little step gets you closer to the financial freedom you deserve!

Remember, starting small and staying consistent is the key to success. With automated savings, you’ll effortlessly build wealth and reach your financial dreams. Take the leap, and let automation lead you toward a brighter financial future!

Keep going, you’re doing amazing!

The Budget Academy
Fab Kellum author of the Girl, Get Out of Debt! blog

Hey you! Welcome to The Budget Academy. I am Fab, a survivor, a mom, and an entrepreneur at heart. Just like many, I have overcome financial struggles and I want to share with you how I did it.  I have a background in Finance and Real Estate and I’m passionate about helping others succeed and achieve financial freedom.  So, don’t be shy, let’s connect and start this journey together! Learn more about me here.