Why Everybody Should Have an Automatic Savings Plan

Times are tough for everyone right now. Yes, we know that you already have a regular savings account, but when you get paid every two weeks, you have to worry about paying your bills and buying groceries every single week. If you have a little bit of money left after everything is paid for, you put it into your savings account, but very rarely do you have enough left to justify a trip to the bank… so that leftover money languishes in your regular checking account, and is usually just spent.  Automatic savings plans could change all this.

What are automatic savings plans? Automatic savings plans are a direct deposit into your savings account from each pay check that you receive. Whether it is ten dollars or one hundred dollars, any money that goes to your automatic savings plans is money saved. Nothing but good can come out of these. Why should you start automatic savings plans?

With automatic savings plans, you never see the little bit of money you put into them. That way when you get paid, you don’t have to log into your account or even visit the bank to deposit, say, thirty or fifty dollars into your savings; it automatically goes into these savings plans for you.

Automatic savings plans have all of the same benefits as a savings account, with the added advantage that you didn’t have to put the money into your savings plans yourself. You’ll save up money to help yourself stay afloat in an emergency. You’ll save money for that beautiful new car you want. You may even save money for the wedding of your dreams.

Automatic savings plans do all of that for you, with very little effort require on your own part, making them a tremendously good way to build wealth.