The toughest part about creating good money habits is putting the discipline behind it. Instant gratification and lack of knowledge can direct your money in places that prevent you from reaching a secure financial future. We all need to take baby steps toward those good habits, and sometimes it takes putting systems in place where you don’t even notice they’re in motion. Here are three “systems” you can easily set up and effortlessly reap the benefits:
Credit. You can put a small recurring bill on a credit card and an automatic payment on the card. This is great tactic, especially if you have a subscription service like Amazon or Netflix. You can enjoy the credit-building benefits of consistent, on-time payments and maintaining a low credit usage rate without thinking about it.
Investing. Acorns is a popular app that allows you to put your spare change from purchases into an investment portfolio. So if your coffee costs $2.27, you can pay $3 and the extra $0.73 goes toward your investments. Over time, those small amounts definitely add up. Get the app on our phone and start investing!
Savings. Find it difficult to save your money? Set up an automatic direct deposit every time you get paid! Decide on a set amount or percentage of your check that gets deposited into a separate savings account on payday. Another helpful tip is to get a savings account that takes more effort to access, such as a local bank or one that takes longer to reach.
We hope these tips will get you on your way and inspire you to find a better balance with your money!