Tuesday, June 9, 2020

How to Use Cruise Control for Your Financial Goals

I'm learning something about my financial goals.  The more I automate them, the more attainable they become.  My paycheck from my day job goes into two separate checking accounts, the one I use to pay my everyday expenses, and the one I pretend doesn't exist unless an emergency pops up.  This second account is like cruise control.  As long as I don't touch the settings, I can reach my financial goals without any effort.  The challenge is to avoid any temptation to alter my preset amounts.

If you're interested in giving your financial goals a boost, try cruise control.  Open up a separate account and start with a small amount so you don't miss it.  It's even easier if you can find something in the monthly spending you can live without.  Cut this out and instead of paying someone else, put this in your separate bank account.  As you get more comfortable, increase the cruise control to higher amounts.  Have a great day.

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