Automating your savings will help you save more

[CageMabok]

it's good to make yourself aware of collecting money, if you get a salary every month, then whatever amount is better to set aside, in an automatic way like this it is indeed useful for those who are just starting to learn to manage finances, but for those who are used to managing finances I don't think so it becomes a problem to gather intentions, because they have allocated finances neatly. for me instead of collecting money like that it would be better to collect assets, because whatever money we have left over can be realized in cryptocurrency assets, and we will benefit in the future

Collecting cryptocurrency assets must also start with collecting money first, even though there are many ways to look for it for free, because usually good cryptocurrency is always difficult to get for free. So buying it with money or with a monthly salary left over is the best option because it is also a more precise and fast way, but in terms of managing finances I usually always make allocations based on my own wishes even though the options you say are also very good because almost similar to an investment that might be very useful for the future if it is really profitable.

[umbara ardian]

Many people despise the habit of saving money, they even use the money in credit cards bluff. They do this because they think they will earn more in the future.

People who live in such a mindset are very happy when they spend money, and when they owe money, they are also very calm. They are like frogs that are bathed in warm water. When the water temperature warms up a little, the frogs not only don't jump out; on the contrary, they enjoy being immersed in such warm water.

They think they are very comfortable, but in reality, danger is near. After all, those frogs are cooked to their own delight.

[blockman]

AFAIK, banks do have this feature for automating your savings or even the payment of your bills. Well, sometimes it's good and sometimes it's not. With what I mean by that is when you're in need of money but then the automated feature gets in and you're no longer able to alter it. However, it's still your bank and you've got the control with everything that lies within in. It's the discipline that's helping you out using this feature and then if you're able to adopt it on your own, even without such features, it's within your head and practice.

For automating deduction we called this Auto Debit or most likely people seeing as ADA in the finance world, another thing here is its good to deduct automatically because you don't need to mind if you paid your bills or other things manually because they are already supported the use of it, even in the e-wallets too they are using the favorites feature that you can easily pay and at the same time save your extra money.

Yeah, that's a feature that everyone should check out. But if you're not into these automatic features from the banks and you want to do it manually, you have an option. It's good for the bills and if it's possible to do it with your salary and takes care of a portion to save, that's much better, and might enjoy that on purpose.

This will let you learn how to manage your money properly because the remain funds are the once you can use for your survival daily.

Yup.
That's how you manage it and how you should take care with the remaining funds you've got. People tend to only save when what's left but those that are doing it differently, taking the savings first and taking the bills then everything will be taken care with what's left.

[Texac]

Many people despise the habit of saving money, they even use the money in credit cards bluff. They do this because they think they will earn more in the future.

People who live in such a mindset are very happy when they spend money, and when they owe money, they are also very calm. They are like frogs that are bathed in warm water. When the water temperature warms up a little, the frogs not only don't jump out; on the contrary, they enjoy being immersed in such warm water.

They think they are very comfortable, but in reality, danger is near. After all, those frogs are cooked to their own delight.

Indeed, people who have no savings means they are killing themselves in the future even if they have a large income, there is no guarantee that their job will be stable until they die. 
saving is just as important as investing, it is even more important than investing, because investing does not guarantee that it will always bring us a return. Many people are thinking that saving money is a waste because inflation will eat away at the value of our money.  what they say is not entirely wrong but depreciating because of inflation will be even slower than we invest in high risk assets and risk losing all assets.

[xSkylarx]

Many people despise the habit of saving money, they even use the money in credit cards bluff. They do this because they think they will earn more in the future.

People who live in such a mindset are very happy when they spend money, and when they owe money, they are also very calm. They are like frogs that are bathed in warm water. When the water temperature warms up a little, the frogs not only don't jump out; on the contrary, they enjoy being immersed in such warm water.

They think they are very comfortable, but in reality, danger is near. After all, those frogs are cooked to their own delight.

Indeed, people who have no savings means they are killing themselves in the future even if they have a large income, there is no guarantee that their job will be stable until they die. 
saving is just as important as investing, it is even more important than investing, because investing does not guarantee that it will always bring us a return. Many people are thinking that saving money is a waste because inflation will eat away at the value of our money.  what they say is not entirely wrong but depreciating because of inflation will be even slower than we invest in high risk assets and risk losing all assets.

but if you can do both, then that is good. Others have really their point of view since others will say instead of saving it, invest it in something since for sure you'll gain profit on it, but the problem with this is that you're risking your money, and again, without risk, you won't gain any. Though saving may lose its value over time, this is still better than not having money in case of an emergency, as you will probably end up borrowing money from others and getting into debt.

[waONE]

Many people despise the habit of saving money, they even use the money in credit cards bluff. They do this because they think they will earn more in the future.

People who live in such a mindset are very happy when they spend money, and when they owe money, they are also very calm. They are like frogs that are bathed in warm water. When the water temperature warms up a little, the frogs not only don't jump out; on the contrary, they enjoy being immersed in such warm water.

They think they are very comfortable, but in reality, danger is near. After all, those frogs are cooked to their own delight.

Indeed, people who have no savings means they are killing themselves in the future even if they have a large income, there is no guarantee that their job will be stable until they die. 
saving is just as important as investing, it is even more important than investing, because investing does not guarantee that it will always bring us a return. Many people are thinking that saving money is a waste because inflation will eat away at the value of our money.  what they say is not entirely wrong but depreciating because of inflation will be even slower than we invest in high risk assets and risk losing all assets.

Many ignore saving and prefer investing which is not as long as it makes a profit,
actually it all depends on each other's decisions,
but it would be nice to think about the future by saving.

[flyingcarpet]

Many people despise the habit of saving money, they even use the money in credit cards bluff. They do this because they think they will earn more in the future.

People who live in such a mindset are very happy when they spend money, and when they owe money, they are also very calm. They are like frogs that are bathed in warm water. When the water temperature warms up a little, the frogs not only don't jump out; on the contrary, they enjoy being immersed in such warm water.

They think they are very comfortable, but in reality, danger is near. After all, those frogs are cooked to their own delight.

Indeed, people who have no savings means they are killing themselves in the future even if they have a large income, there is no guarantee that their job will be stable until they die. 
saving is just as important as investing, it is even more important than investing, because investing does not guarantee that it will always bring us a return. Many people are thinking that saving money is a waste because inflation will eat away at the value of our money.  what they say is not entirely wrong but depreciating because of inflation will be even slower than we invest in high risk assets and risk losing all assets.

If a person with a high or low income does not save, the point at which he will be in trouble is the same for both. Savings can save us in our tough times. If we can not only save but also invest, it means we are taking good steps for our future. Unexpected expenses can occur many times in a person's life. If we do not want these expenditures to disrupt our order, we should save and invest with smart steps.

I agree with what you said about inflation. The value of our money may decrease, but still not all of our savings are lost.

[Wend]

Many people despise the habit of saving money, they even use the money in credit cards bluff. They do this because they think they will earn more in the future.

People who live in such a mindset are very happy when they spend money, and when they owe money, they are also very calm. They are like frogs that are bathed in warm water. When the water temperature warms up a little, the frogs not only don't jump out; on the contrary, they enjoy being immersed in such warm water.

They think they are very comfortable, but in reality, danger is near. After all, those frogs are cooked to their own delight.

Indeed, people who have no savings means they are killing themselves in the future even if they have a large income, there is no guarantee that their job will be stable until they die. 
saving is just as important as investing, it is even more important than investing, because investing does not guarantee that it will always bring us a return. Many people are thinking that saving money is a waste because inflation will eat away at the value of our money.  what they say is not entirely wrong but depreciating because of inflation will be even slower than we invest in high risk assets and risk losing all assets.

Many ignore saving and prefer investing which is not as long as it makes a profit,
actually it all depends on each other's decisions,
but it would be nice to think about the future by saving.

Which do you think is riskier between saving and investing? What guarantee do you have that the investment will always give you a return? Even if you invest in gold or real estate, there is no guarantee that it will always generate a profit. 

Of course, everyone has their own decisions, but it would be foolish to think that investing will always pay off and saving is a waste. Even billionaires, top investors have many failures in investing, so never think that you can always make a profit from investing.

[EluguHcman]

 It is a wise decision if making more money and saving more money. Much wise enough if you don't only target to cut your expenditures for other expenses to be attended to but aim to boost your savings.

This Automatic Saving Plans has been in existence but not everyone has learnt of it and some person's whom had learnt of it doesn't know of it's benefit.

I order to spread this welcomed development, I think banking marketers can offer financial advisory towards this Saving system while out there in hunt of clients for bank account opening with them.

This system is really disciplined towards financial management, expenses and for savings processes.

[smile1218]

As humans, we tend to have a need for immediate satisfaction. These needs keep increasing on dialy basis, if one decide to go by all these needs, one may end up without a saving. Most time we are faced with a decision like whether to spend our money on our daily needs or to save them. Here, we may likely to be biased toward our present selves, so we're likely to make the choice that will benefit us most at that moment which mostly will be buying our daily needs. However, we can overcome present bias by taking away the ability to choose between saving and spending altogether. This is where automating your savings comes in.

What do I mean by automatic saving? Automatic savings is a type of personal savings system in which the plan contributor automatically deposits a fixed amount of funds at specified intervals into their account. The typical structure of this type is an automatic transfer from an individual's bank account into a savings or investment account.

When you automate, you eliminate a decision – to save or not to save. Once you decide to set up auto-save and go through the initial process, that’s all. You keep saving at interval without a need to make a decision on either to save or not. With this one savings keep accumulating with time till one have a reasonable amount.

With automatic savings, ones monthly salary becomes: Salary- Automatic savings amount. With this, one will only calculate is daily needs on the remaining amount rather than calculating on all it's salary.

CONCLUSION
Saving money isn't something easy, it comes with determination and self-discipline but with automatic saving one can easily set his/her saving amount at interval.

That is true. Automating your savings can help you save more it is a good strategy specially to people who do not have control in their spending on their wants. Automating saving is good for people who have extra money on their salary because if you have a low salary and your salary is just enough to cover up your daily expenses, it would be a bit harder. Not everyone have extra fund on their salaries. But to be able to automate savings  you have to do side jobs so that you can have extra income to be able to automate your savings. I had done that in the past and i know how it feels if your salary is just enough to cover up expenses. It is hard to save if you do not have extra in your salary.

[Adams0001]

Exactly, if you save money, you will have more money to save when you have a source of income, however other individuals prefer to invest their money in order to make more money. Saving is typically done for the short term, whereas investing is done for the long term. In the short term, it's a good idea to invest your money rather than save it. Saving is just a normal thing that you can't get anything back from, any amount you keep in a luck key that is the money you will see, but when you invest you will get a high profit back, as for me i would rather invest my money than save it.

[Uruhara]

Exactly, if you save money, you will have more money to save when you have a source of income, however other individuals prefer to invest their money in order to make more money. Saving is typically done for the short term, whereas investing is done for the long term. In the short term, it's a good idea to invest your money rather than save it. Saving is just a normal thing that you can't get anything back from, any amount you keep in a luck key that is the money you will see, but when you invest you will get a high profit back, as for me i would rather invest my money than save it.

I like your mindset about preferring to invest the money you have instead of having to keep it in savings. Because by investing, of course you can expect your money to grow or have profits over time. But investment will only get sweet results if the investment is made for the long term. But actually we should also always have cash or money that we save that is easy to use in unexpected situations such as when we are sick or something else. So having emergency savings should still be one of the priorities that we also have to pay attention to.

[ajiz138]

Exactly, if you save money, you will have more money to save when you have a source of income, however other individuals prefer to invest their money in order to make more money. Saving is typically done for the short term, whereas investing is done for the long term. In the short term, it's a good idea to invest your money rather than save it. Saving is just a normal thing that you can't get anything back from, any amount you keep in a luck key that is the money you will see, but when you invest you will get a high profit back, as for me i would rather invest my money than save it.

I like your mindset about preferring to invest the money you have instead of having to keep it in savings. Because by investing, of course you can expect your money to grow or have profits over time. But investment will only get sweet results if the investment is made for the long term. But actually we should also always have cash or money that we save that is easy to use in unexpected situations such as when we are sick or something else. So having emergency savings should still be one of the priorities that we also have to pay attention to.

Usually those who have savings to support life for more than 6 months will dare to invest because it will not interfere with the investment that we are making because there is already a reserve fund that has been prepared, if later there is an urgent need of course the savings will be in use while the investment will not be disturbed by our situation, so indeed this must be matured and first create a new savings fund to continue investing..

I think there are still many people who make the mistake where they invest but don't have a reserve fund, but when there is a need, the investment is withdrawn because there are no other assets besides the one invested, so that is what must be considered where emergency funds are important.

[Smack That Ace]

Exactly, if you save money, you will have more money to save when you have a source of income, however other individuals prefer to invest their money in order to make more money. Saving is typically done for the short term, whereas investing is done for the long term. In the short term, it's a good idea to invest your money rather than save it. Saving is just a normal thing that you can't get anything back from, any amount you keep in a luck key that is the money you will see, but when you invest you will get a high profit back, as for me i would rather invest my money than save it.

So you became rich by investing? Or are you still losing money and looking for another way to cover your investment losses? Investing is the best way to increase our wealth, but there is no guarantee that the investment will definitely bring you a return. It's a bad idea to put all your money into investments and not have any savings because the investment will never be able to help you in emergencies or daily needs. It is quite surprising that until now, many people still do not know the importance of saving.

[nur rochid]

Exactly, if you save money, you will have more money to save when you have a source of income, however other individuals prefer to invest their money in order to make more money. Saving is typically done for the short term, whereas investing is done for the long term. In the short term, it's a good idea to invest your money rather than save it. Saving is just a normal thing that you can't get anything back from, any amount you keep in a luck key that is the money you will see, but when you invest you will get a high profit back, as for me i would rather invest my money than save it.

So you became rich by investing? Or are you still losing money and looking for another way to cover your investment losses? Investing is the best way to increase our wealth, but there is no guarantee that the investment will definitely bring you a return. It's a bad idea to put all your money into investments and not have any savings because the investment will never be able to help you in emergencies or daily needs. It is quite surprising that until now, many people still do not know the importance of saving.

depending on the investment undertaken, investing certainly has its own risks in each field, for example we invest in land, of course even though we don't have adequate knowledge about future analysis, this investment is classified as very safe, because every year it will increase. it's different with investing in cryptocurrencies or gold, of course it has a higher risk, therefore we must have prior knowledge to be able to manage existing risks, this is better than saving fiat, where the value of fiat currency will be decreased as inflation increased. therefore we must be good at managing finances

[SOKO-DEKE]

however other individuals prefer to invest their money in order to make more money. Saving is typically done for the short term, whereas investing is done for the long term. In the short term, it's a good idea to invest your money rather than save it. Saving is just a normal thing that you can't get anything back from, any amount you keep in a luck key that is the money you will see, but when you invest you will get a high profit back, as for me i would rather invest my money than save it.

Additionally, I would rather invest my money than save it in any form. I think if I put my money into better investments, it will grow, and that should be a great chance to raise more money. Even though they have separate accounts for savings, some people still find it difficult to save money because they readily tamper with it. However, after money has been invested, tampering is far less likely to occur. So I guess I might say that investing is the best approach to effectively conserve our money while avoiding temptation.but when someone don't have better place to invest the money with assurance of less risk, I will advice to get it save normally in account you can't touch unless you reach your fix time.

[Xampeuu]

however other individuals prefer to invest their money in order to make more money. Saving is typically done for the short term, whereas investing is done for the long term. In the short term, it's a good idea to invest your money rather than save it. Saving is just a normal thing that you can't get anything back from, any amount you keep in a luck key that is the money you will see, but when you invest you will get a high profit back, as for me i would rather invest my money than save it.

Additionally, I would rather invest my money than save it in any form. I think if I put my money into better investments, it will grow, and that should be a great chance to raise more money. Even though they have separate accounts for savings, some people still find it difficult to save money because they readily tamper with it. However, after money has been invested, tampering is far less likely to occur. So I guess I might say that investing is the best approach to effectively conserve our money while avoiding temptation.but when someone don't have better place to invest the money with assurance of less risk, I will advice to get it save normally in account you can't touch unless you reach your fix time.

investing money is much more useful, but saving also has the benefit of anticipating urgent needs that are beyond calculation. both are highly recommended to manage our financial balance. of course we save only as needed, and more to invest. in investing we must clearly master the field that we will invest, so as to minimize the risks that occur as a result of our lack of knowledge about investment. that way it is hoped that our wealth will increase in value, because it focuses more on investment

[Fortify]

As humans, we tend to have a need for immediate satisfaction. These needs keep increasing on dialy basis, if one decide to go by all these needs, one may end up without a saving. Most time we are faced with a decision like whether to spend our money on our daily needs or to save them. Here, we may likely to be biased toward our present selves, so we're likely to make the choice that will benefit us most at that moment which mostly will be buying our daily needs. However, we can overcome present bias by taking away the ability to choose between saving and spending altogether. This is where automating your savings comes in.

What do I mean by automatic saving? Automatic savings is a type of personal savings system in which the plan contributor automatically deposits a fixed amount of funds at specified intervals into their account. The typical structure of this type is an automatic transfer from an individual's bank account into a savings or investment account.

When you automate, you eliminate a decision – to save or not to save. Once you decide to set up auto-save and go through the initial process, that’s all. You keep saving at interval without a need to make a decision on either to save or not. With this one savings keep accumulating with time till one have a reasonable amount.

With automatic savings, ones monthly salary becomes: Salary- Automatic savings amount. With this, one will only calculate is daily needs on the remaining amount rather than calculating on all it's salary.

CONCLUSION
Saving money isn't something easy, it comes with determination and self-discipline but with automatic saving one can easily set his/her saving amount at interval.

Automating savings is part of a process that people start looking into when they start to wake up to planning their financial future. Many people stumble through their first few decades being extremely wasteful with money and not thinking about what will happen in ten years time, or ways to break out of the payday cycle. Some people also dig themselves a debt early in life, which can take time to rectify and gain a decent salary - at which point it can make sense to take this type of budgeting decisions.

[Uruhara]

Exactly, if you save money, you will have more money to save when you have a source of income, however other individuals prefer to invest their money in order to make more money. Saving is typically done for the short term, whereas investing is done for the long term. In the short term, it's a good idea to invest your money rather than save it. Saving is just a normal thing that you can't get anything back from, any amount you keep in a luck key that is the money you will see, but when you invest you will get a high profit back, as for me i would rather invest my money than save it.

I like your mindset about preferring to invest the money you have instead of having to keep it in savings. Because by investing, of course you can expect your money to grow or have profits over time. But investment will only get sweet results if the investment is made for the long term. But actually we should also always have cash or money that we save that is easy to use in unexpected situations such as when we are sick or something else. So having emergency savings should still be one of the priorities that we also have to pay attention to.

Usually those who have savings to support life for more than 6 months will dare to invest because it will not interfere with the investment that we are making because there is already a reserve fund that has been prepared, if later there is an urgent need of course the savings will be in use while the investment will not be disturbed by our situation, so indeed this must be matured and first create a new savings fund to continue investing..

I think there are still many people who make the mistake where they invest but don't have a reserve fund, but when there is a need, the investment is withdrawn because there are no other assets besides the one invested, so that is what must be considered where emergency funds are important.

Correct this important point is what I also mean. Because having a reserve fund is something that everyone must have. Because without a reserve fund or emergency fund, sometimes our financial planning can go awry in the future. if there is an urgent need that cannot be postponed or must be paid immediately. Emergency funds must also be stored in a form that is easy to use or easily traded. So most people keep a fixed form of reserve fund in the form of fiat money. because it can be directly used whenever needed. and remember an emergency is a condition that must be handled as soon as possible so it will be very difficult if we have to use a long time to sell goods or exchange our assets first so that they become fiat and can be used for payment.

[fullhdpixel]

Many people despise the habit of saving money, they even use the money in credit cards bluff. They do this because they think they will earn more in the future.

People who live in such a mindset are very happy when they spend money, and when they owe money, they are also very calm. They are like frogs that are bathed in warm water. When the water temperature warms up a little, the frogs not only don't jump out; on the contrary, they enjoy being immersed in such warm water.

They think they are very comfortable, but in reality, danger is near. After all, those frogs are cooked to their own delight.

Indeed, people who have no savings means they are killing themselves in the future even if they have a large income, there is no guarantee that their job will be stable until they die. 
saving is just as important as investing, it is even more important than investing, because investing does not guarantee that it will always bring us a return. Many people are thinking that saving money is a waste because inflation will eat away at the value of our money.  what they say is not entirely wrong but depreciating because of inflation will be even slower than we invest in high risk assets and risk losing all assets.

Except for the ultra-rich, I don't think anyone finds savings to be something useless because everyone understands the importance of money especially when there is a situation when someone needs way more money than they have or even earn, that is when savings come in handy and can save the person from taking loans or borrowing money from people only to spend on the emergency they got into, so savings are obviously not useless.

A person who earns a minimum wage and can barely fulfill the needs of their household basically doesn't have the option to save anything, but those who earn enough that they can fulfill all the needs and still have money left should obviously save the remaining money as that can be useful in the future.