I came across this article the other day, with a lot of great advice on how to change your money habits.
Good money habits to automate
- Pay yourself first
We’ll start with our most important budgeting tip. Automating payments to Future You means you’re consistently making progress toward your goals. Set up a direct deposit straight from your paycheck or from your checking account into your emergency fund, retirement account, and other investment accounts.
- Set up recurring payments
Shooting awake in bed over a missed payment deadline is a financial stress no one should experience nowadays. Not when it’s so easy to set up recurring bill payments. Plus, some billers (like insurance companies or student loan servicers) offer discounts if you set up autopay. In addition to automating all of your monthly bills, don’t forget to set aside recurring deposits into a sinking fund for future non-monthly expenses (vet bills, oil changes, that sort of thing). If you’re living paycheck to paycheck, be cautious to avoid accidental overdrafts.