Automating Your Finances could easily be one of the best decisions you will ever make. As a master procrastinator, you have a supernatural ability to put off important tasks and obligations until the very last minute. Even then, you might delay making important money moves long past the deadline.
If you’re tired of procrastinating on big-money decisions, automation is here to help. Automation takes the pressure off of managing your financial house and gives this job to the machines. Here are five different ways automating your finances can help.
5 Ways Automating Your Finances Helps
1. Receive Same Day Loans
An unexpected expense can crop up between paydays and surprise your budget. If you don’t have enough savings set aside, you might have to borrow money online. Automation means online direct lenders can process your application quickly, so you’ll know if you qualify sooner than if you applied in person.
Some online direct lenders also use direct deposit to deliver your approved funds into your bank account automatically. Thanks to this setup, you might receive quick personal loans on the same business day that you’re approved. These same-day loans make it possible to handle your emergency faster.
2. Pay Bills on Time
If you’re the type of procrastinator who sleeps on their bills, automation can help you never miss a due date again. Simply authorize your utility providers, online direct lenders, and any other regular creditor to automatically take out payments from your account, arranging the timing and frequency of these automatic payments.
3. Set Automatic Savings
Have you forgotten to deposit some cash into your savings account? Procrastinators can put off this simple task for months. Failing to save increases the chances you’ll need same-day loans to help with unexpected expenses.
Automation takes over this financial task, making sure you contribute to your savings without missing a month. This way, you’ll consistently grow this account and maximize the interest you earn on your balance.
4. Simplify Investing
Starting a rainy day savings fund is the first step to financial security. For a strong foundation that follows you into retirement, you need to start investing. Admittedly, investments are intimidating even if you aren’t a procrastinator. There’s a lot to learn about the market, asset allocations, and portfolios.
If all this talk prevents you from taking the plunge, look into Robo advisors. These apps use algorithms to make investing and trading decisions on your behalf for a small management fee. All you have to do is set your goals and risk tolerance before they manage your money.
5. Purchase Alerts
When was the last time you checked your financial statements? As a procrastinator, you may not get around to this task as often as you should, so you might not notice if you’re a victim of fraud.
To prevent fraud and identity theft, you can set up an automatic alert to ping your phone any time a purchase is made with your credit card. This way, you’ll notice if anyone takes your card for a ride.
You can also sign up for balance notifications. These will let you know if you get too close to your limit, which can help you prevent overspending.
Bottom Line – Automating Your Finances
Procrastination makes it harder to manage your money, but you can overcome this weakness by Automating Your Finances. With the right set of automated tasks, you can pay bills on time, borrow money quickly, and save more effectively.