Ndubuisi 'Andy' EgwimMoney Coach for Medics|Ex-NHS GP|21+ Yrs Investor| Founder, MoneyWiseDoctor.com|Helping Medics Avoid Big Money Mistakes

How to Save Money Painlessly & Automatically with AMASS (Activated monthly Automated Saving system )

22 Dec 2023 · 1 min

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0:56

A short, ~60-second YouTube video by Ndubuisi 'Andy' Egwim introducing AMASS (Activated monthly Automated Saving system): the simple tactic is to set up an automatic monthly direct debit (e.g., 15–20% of income) so savings accumulate without requiring ongoing willpower. The clip promotes automated saving for retirement, investments, and house deposits and ends with a call-to-action to visit moneywisedoctor.com and subscribe.

Chapters

Amass, amass. You want to save money, but you find it really difficult to save any money. I'm going to share with you in 60 seconds a very simple strategy that myself and my colleagues used to start to save money even as junior doctors that helped us to be able to save money to invest for retirement, save money to help us to achieve our investment goals and financial freedom, and even to help us secure a deposit to buy our first house. And it's quite simple. You just set up a direct debit. Yes. Speak to your bank or get into your app. Set up a direct debit and set it up. That percentage every month goes out of your monthly income. Might be 15 to 20% or whatever you think. And what is the benefit for you? You end up accumulating saving without actually taking the willpower of going to put up money for saving. You don't have to transfer the money by yourself. If you found this useful, or if you want to get more useful financial tips, head over to moneywisedoctor.com and subscribe to our YouTube channel. Ciao.