Following healthy financial habits, especially those related to our long-term savings and goals can be challenging to maintain. Automating these healthy habits is key to keeping up with them and staying financially fit.

Here are three ways to automate healthy financial habits:

1. Set up auto-pay for your bills

Having your bills on auto-pay is a great way to simplify bill pay as well as save time and avoids having to worry about payment due dates and late fees. Have recurring bills set up to automatically be paid from your checking account, ideally as soon after your paycheck has been deposited as possible. With the bill payments taken out not long after your paycheck is deposited, you’ll have a good idea of how much money you have left to spend.

2. Set up an automatic transfer to your savings account

Saving goals are much easier to meet if you have a predetermined amount set to automatically deposit from your checking into your savings account after your paycheck hits. It’s far less tempting to spend money you should be saving if it’s not in your checking account because it has been deposited automatically into your savings.

3. Automatic contributions to a retirement account

Does your employer offer retirement plans like a 401k or 403b? Signing up for automatic transfers allows you to make the best of your tax benefits because the money put into these retirement accounts is not taxed. These automatic contributions provide you with a lower taxable income and the security of knowing you’re putting money away for your retirement. Consider making automatic contributions to an IRA account if you don’t have access to a retirement account through your employer.

A Final Word

Developing healthy financial habits is a process. Taking advantage of opportunities to automate some of these habits is a great way to force ourselves to keep up with our habits and ultimately, to reach our financial goals.

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