Millions of successful household CEOs automate their finances in order to save time and money, and help them reach their financial goals. For example, prepaying your utility bills, the mortgage and other loans helps eliminate late fees and postage. And paying yourself first is painless when you make weekly or fortnightly automatic paycheck deductions to your IRA or 401(k) retirement accounts. However, computerized systems still make mistakes — that’s why it’s important to always stay alert and check your monthly statements for possible errors.
The bottom line: Automating your finances is a smart money management technique — putting them on autopilot isn’t.
Photo Credit: Ewen Roberts