Automate and Chill: Your Guide to Becoming a Financial Automaton
What is an automaton? Specifically, what is a financial automaton? You quietly ask yourself if you should consult the Googler but fret not- I am here to explain.
An automaton, a word often used in similes and comparisons, refers to a person who seems to act in a mechanical or unemotional way. Add finances to the mix, and basically, I am suggesting that you should strive to become a robot in (some) money areas. Why operate as an automaton/robot? Because they do what they are pre-programmed to do with no hesitation. If you are able to successfully automate your income, then you will experience what it feels like to make moves for your future without unnecessary stress or extra time taken away from your already full day.
Here are some simple steps that you can do to streamline your cash flow:
- Set up Direct Deposit through your job (if possible). Not only will you be saving time, but you’ll often receive your paycheck as early as 12am on Fridays. Party!
- Register for Bill Pay and Paperless Billing. You will literally be saving the planet while simultaneously ridding yourself of late fees, interest charges, and, possibly, overdraft fees.
- Pay Yourself First. You can start saving at any salary. So, start socking away a certain amount each week or month to meet your financial goals. You can even allocate a part of your check to go directly into a savings account when you sign up for direct deposit. Boom!
- Join your company’s 401k or retirement savings, especially if the company offers to match your contribution. It is literally like being paid to save!! Why not?!
- Set up a special savings account for specific, large future financial goals. Don’t forget to put money aside for the big, important, and dare I say it, fun things you want out of life. Treat yourself by putting a percentage of your check towards saving for that down payment, your dream vacation, your new car, or the wedding that you’ve always wanted.
- Funnel money to an emergency fund. Rainy days happen sooner or later. So much like you keep an umbrella on hand in the event of rain, so should you sock aside some dough for unexpected costs.
- Give and give regularly. In giving to organizations that you believe in, you are refocusing your attention on what matters to you and making a difference in the world. A total win-win.
You do not rise to the level of your goals. You fall to the level of your systems.James Clear, Author of Atomic Habits
At AmPopsy, we tend to be voracious readers who crave information just as much as we crave cupcakes and great clothes. So, I will leave you with two great books that can help you step up your financial automation skills. After all, “You do not rise to the level of your goals. You fall to the level of your systems.” This is the main theme of the first amazing book to check out if you are serious about taking it to the next level of financial automation. The book is called Atomic Habits by James Clear. Habits, Mr. Clear says, are “the compound interest of self-improvement.” The phrase “atomic habits” refers to the hundreds of votes you cast throughout the day about who you’ll be in the future. The more your life runs on daily habits, the more freedom you’ll have to focus on more important work. An easy read with understandable and doable action items.
The second book recommendation is The Automated Finance Plan: How to Automate Your Money Management, Feel Confident in Your Plan, and Finally Take Control of Your Finances written by Dave Stevens. Stevens promises that you can take control of your money now by following his step-by-step process that sets up a personalized Automatic Financial Plan. The best part? You won’t have to budget, pinch pennies, or spend hours each month tracking expenses and financial statements. It’s available right now on Kindle for $2.99, which is less than most cups of coffee.
Speaking of the cost of daily coffee consumption, in my next article, I will interview a very smart woman about an ingenious life-hack that allowed her to automate her way to an extra 2000 dollars just in time for the holidays by following a few simple financial automation techniques.
So, stay tuned and Happy Saving!!