Happy Wednesday !.
My life became so much easier financially when I made things automatic. I love that when you automate it takes the "thinking" out and puts the "doing" in place. Automate just means you are "paying yourself first" by saving before you start spending! Therefore I wanted to share some areas you can automate your life to success!
EMERGENCY FUND: If you are an employee the government take their payment for taxes automatic before you receive your paycheck...seems like they don't trust you to pay once you get the money first... right:) Therefore have the same mentality when it comes to building an emergency fund for yourself. A rule of thumb is have at least 3 to 6 months worth of expenses saved up just in case you lose your job or any unforeseen event happens. However, if you want to be bulletproof in terms of being prepared for any emergency then I would have more like 8 to 12 months of expenses saved in an emergency fund. Every paycheck have an amount that automatically drafts into your emergency fund.
VACATION FUND: I won't spend much time here. I have a post here on the importance of having a vacation fund. The key is to make it automatic by assigning a percentage to your savings account before you start spending.
RETIREMENT FUND: Well this is why most people work so that one day they can retire and enjoy the rest of their lives financially free. The process of making a retirement savings automatic makes the dream more of a reality and possible. You can automate 10% of your earnings into your retirement account however if 10% is too much starting out just do whatever you can. The main point is to start the process towards building a retirement and automating this amount makes it so much easier to achieve this goal.
Remember to save before you spend because you can't save what you've already spent...thank you so much for reading and your kind comments are always appreciated.. continue having a wonderful blessed week!
Dress: Kaari Blue on sale
Belt: old similar
Shoes: Jessica Simpson