Many experts advise that you automate your bill payments and savings contributions, but what are the pros and cons?
- If you took a survey of financial experts,…you'd find a surprising amount of agreement…on the subject of automating your finances.…Evidently, we're all supposed to do this…to save time, reduce missed payments,…and clear up mental space for other stuff.…That's great, but it doesn't mean it's great…for everybody in all circumstances.…I've seen many instances where automation…actually caused more headaches than it saved.…Let's cover when it's best to automate your finances.…Automation works best for people who…have reliable income and fairly predictable expenses,…are able to consistently live below their means,…have already put time and thought into savings goals…and are able to integrate those into their automated system.…
Automation may be tough for those of us who…have erratic or unpredictable incomes,…experience swings in expenses,…struggle to live below our means,…and who don't have concrete savings goals…or who tend to regularly pull from savings…to cover shortfalls.…It doesn't mean it's impossible for those in group two…
Skill Level Intermediate
Financial Wellness for Couples and Familieswith Amanda Clayman1h 7m Intermediate
Personal Finance Tips and Trickswith Jane Barratt2h 58m Intermediate
Your Money Management
- Mark as unwatched
- Mark all as unwatched
Are you sure you want to mark all the videos in this course as unwatched?
This will not affect your course history, your reports, or your certificates of completion for this course.Cancel
Take notes with your new membership!
Type in the entry box, then click Enter to save your note.
1:30Press on any video thumbnail to jump immediately to the timecode shown.
Notes are saved with you account but can also be exported as plain text, MS Word, PDF, Google Doc, or Evernote.