Live an Above Average life – Email #6: Put your money on auto pilot
Live an Above Average Life
Put your money on auto pilot.
Welcome to the sixth email in my July "Live an Above Average life" series. In the last email, we talked about the fallacy of perfection. Today, we're talking about automation.
Here's the greatest thing about financial automation: Once it's setup, we don't really do anything. We don't have to remember to pay bills. We aren't on the hook to find time to submit payments or, worse yet, write checks.
When we put our finances on auto pilot, things just happen through the magic of automation. We used this to the fullest back when we worked full-time jobs.
- We automatically contributed to our 401k and IRAs
- We automatically transferred money from checking into savings
- We automatically paid our credit card bills so we *never* ran a balance
For above average people, automation helps to ensure those repeatable and dependable processes that need to happen every month...happen. We aren't relying on our discipline to pay bills to avoid late fees and interest.
There's a reason why we've never paid a single interest charge on our credit cards - like, ever. Never a late fee. No reductions in our credit score (if you even care about that). This is all due to setting up automated processes that guarantee that things happen when they need to happen.
Imagine never having to worry about late fees or interest again.