Financial Freedom on Autopilot: A Svvy® Woman’s Guide to Automating Your Finances Today

Picture yourself waking up each day with your bills paid, savings growing, and investments working for you. Many aspire for that kind of financial freedom, and it is possible to enjoy this future with some planning today. In fact, economic freedom is not about working harder or burning yourself out. Instead, it is about setting up systems for your money that allow you to effortlessly grow your assets. With this in mind, we will show you how to automate your finances like a Svvy® woman so you can spend less time concerned with money issues and more time enjoying your life.

Establish Automatic Contributions Into a 401(K)

One method of auto-investing that many women use is to create an automatic contribution setup into their 401(k). It enables them to have funds directly taken from their paycheck during each pay period and contributed to their retirement account. The process automates your finances, and after it has been set up, it can simply run on autopilot. Many companies also offer matching funds for at least some portion of the money contributed to your 401(k) portfolio. That is free money on top of what you have already put into your trading account, and it is the only guaranteed return you will ever enjoy on an investment.

Dividend-Reinvestment Plans (DRIPs)

Reinvesting the dividends you earn from investments is a way to compound the impact of those dividends. In other words, rather than receive a cash payout of the dividends that they have earned, many opt to have those dividends automatically reinvested instead. This adds to the total amount of an investment that one holds, and it can eventually help to grow that investment into far more significant sums over the long run. Additionally, putting those dividends to work means that you can dollar-cost average your investments, purchasing more shares when prices are lower and fewer shares when they are higher.

Build Your Savings Without Thinking About It

You can set up systems now to grow your savings and enjoy all that a healthy financial life can offer. One excellent way to do so is to set up a high-yield savings account to fully automate your finances. You can schedule automatic transfers from your primary checking account into the high-yield savings account.  This helps create an emergency fund and build savings for your future goals.

Visit besvvy.com to get matched to a financial advisor that can assist you in automating your finances. It only takes two minutes to complete the quiz and your matched advisors will be sent to you in minutes.