How can we make good financial decisions more convenient?
It’s amazing how much easier it is to make good choices when it’s convenient. It’s easier to eat vegetables when they’re cut up and ready to go. It’s easier to pay bills on time when you can do it from an app on your phone.
In investing, there is one convenient trick that not enough people take advantage of: automation.
Automatic contributions will automatically withdraw money from your bank account and put it into your investment account. You can customize how much you want to invest and how often. Say you want to save $100 every month- all you have to do is set up the plan, and the $100 will be invested on the same day every month without you having to think about it.
You can have as many of these plans as you want, and it’s easy to change them if you want to contribute more or less as your situation changes.
Imagine how easy it would be to save for your goals when you don’t even have to think about putting the money away. You’ll be taking that vacation/buying that house/enrolling in that course before you know it.