3 Ways to Automate Your Finances

- Hi, I'm Jean Chatzky, and this is your Savvy Money Minute.

- [Narrator] Brought to you by Credit Union of Southern California.

- When it comes to financial planning, many of us have great long-term dreams. But moment-to-moment? Well, life can distract. That's why money rule number 61 is, plain and simple, automate. When you automate, you only have to make one good decision one time to reap the financial benefits for years. Here are three ways to automate your finances. One, savings. Set up monthly transfers from your checking account to a savings account. Choose automatic deductions from your paycheck into your 401K or other workplace retirement plans. Two, bill payments. Set up automatic payments for recurring monthly bill payments like your mortgage, auto or student loan. Your credit score is protected from late payments, and you can even earn a break on student loan interest rates. Three, automate your debt repayment plan. Savvy Money Pro is a free program that generates a smart pay plan to optimize your debt repayment to that you can pay it off in the shortest time. For more tips, check out my book Money Rules. I'm Jean Chatzky for Savvy Money.

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