Tools for Automating Personal Finances: Crypto or Otherwise – Bitrates

Check out our roundup of the best tools to automate your personal finance. From budgeting to investing, we’ve got you covered!

One of the greatest ways to be successful with your budget and reach financial goals is to automate your finances. If you tend to save little and have missed or late bill payments, you can benefit from automating your finances. It will help you manage your funds and take control of them. 

Don’t worry if you aren’t sure where to start. Here is why automating your finances is important and how you can do it.

What Does Automating Your Finances Mean?

Automating your finances means you set up savings accounts and bill payments to be paid each month automatically. You are using autopilot and don’t need to remember to make on-time payments. 

People who face late bills and have to cover penalties or finance charges know how challenging it may be to have everything in mind and remember all financial obligations.

For instance, when you take out a debt consolidation loan no credit check, you may easily forget about the fixed payments that will inevitably lead to expensive charges or late penalties. When you automate your finances, the bills will be paid on time to avoid costly fees. You just need to adjust settings occasionally to check that everything goes according to plan and that your finances will be organized.

What Accounts Can Be Automated?

Consumers may automate different accounts to control their finances. You may automate your bill payments:

  • Utilities;
  • Loans;
  • Rent/mortgage;
  • Insurance;
  • Credit cards.

More than that, consumers may set automatic contributions to their investment or savings accounts such as:

  • Short-term savings;
  • 401k and other long-term savings;
  • Emergency fund.

Why Is It Important to Automate Your Finances?

We all have to deal with multiple financial decisions daily. Every day we think about saving more, repaying our debts, paying the bills on time, investing, and rebalancing our portfolio. What do we do instead? When you are overwhelmed with the number of choices, you usually just do nothing in the end.

According to The Bulletin on Aging and Health Archives by the National Bureau of Economic Research, making employees automatically make contributions to their 401(k) accounts raised the rates from under 40% to almost 100%. 

Many people believe that personal finance and success are all about willpower. In reality, it’s not. The psychology of automation is crucial for those who want to get control of their finances.

Steps to Put …….


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