Automatic!

One personal finance expert (who I cant remember his name) promotes 'automatic' ways to achieve financial independence - the dream of many people including me. He dismisses the idea of budgeting every penny which is I agree a painstaking plan to stick to. I mean, if we budget we will use $600 this week but we use more we get stress!

Automatic means put fix instructions in our bank account, the account where our salary is deposited. For an example, every 1st day of each month, assume we are paid monthly, our bank will automatically transfer 10% of our salary into an investment account - mutual fund or fixed deposits or else; 2.5% into charity; 5% into an emergency expenses account; pay debt automatically; and pay bills automatically (choose types of transfer and percentages that suit you). So, the balance in the bank account that we 'dig' everyday is a clean balance, we can use it without worry!

It doesnt take long, maybe a year or even less, we will realise that we get in a good shape financially. Our debts and bills are paid, our emergency money and most importantly investment funds growing, and we will feel good that we have made a charitable effort (check something that I wrote about the power of giving!). In summary:

"If we want to achieve financial independence do it AUTOMATICally!"