Automated Savings
Setting up automatic transfers so saving happens without willpower.
What You Need to Know
Automated savings moves money to the right place—emergency fund, IRA, brokerage—before you can spend it.
Popular Automations:
- Direct deposit split between checking and savings
- Recurring bank transfers on payday
- Retirement plan contributions
- Round-up programs that invest spare change
Start small, raise the amount after each raise, and treat automation as a bill you pay to your future self.
Sources & References
This information is sourced from authoritative government and academic institutions:
- consumerfinance.gov
https://www.consumerfinance.gov/start-small-save-up/
Related Calculators & Tools
Put your knowledge into action with these interactive tools:
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