Short advice from Ramit Sethi arguing that automating personal finances is highly profitable: set up automated bank transfers to allocate disposable income so money doesn’t linger or get accidentally spent, avoiding reliance on willpower, memory, or manual monthly transfers.
Automating your finance is one of the most profitable decisions you can ever make, and it's particularly important to set up once you have more disposable income and you're not forced to track every single dollar. For example, if you do manual transfers every month, you're relying on a very weak combination of willpower, memory, and your own time. The fact is, your system's going to break. One month, you're going to get sick. Another month, you're going to travel. One month, you're just going to be unmotivated. A lot of times extra money just sits in the bank, losing interest, or it just gets spent. So instead of saying, I'll transfer the money later or I'm going to try to save more, don't do that. Set up a system of automated bank transfers where your system helps your money go exactly where it needs to automatically.
