Feb 28, 2019
The Stash Way: Automate Your Savings
Why turning on Recurring Transactions may help you get to your goals faster.
When it comes to saving money, automatic beats manual.
We generally have good intentions when it comes to putting money aside for the future. Many of us promise ourselves we’re going to put money aside every week, but often, we don’t.
We hesitate and worry that we’ll need the money immediately, so we put it off.
Instead of reminding yourself to put money aside every week, consider automating it. It’s the easiest way to change a nagging chore into a seamless habit.
That brings us to Recurring Transactions (formerly Auto-Stash) and its quiver of powerful tools for developing better money habits.
What is Recurring Transactions?
Recurring Transactions (formerly Auto-Stash) is an easy-to-use tool on Stash, and we consider it to be one of the most important financial tools. Recurring Transactions features can help you save or invest small amounts of money consistently over time, regardless of market conditions. You won’t have to worry about trying to pick the right time to invest or “timing the market” which we don’t recommend.
Auto-Invest is Recurring Transactions’ bread and butter. It’s the feature that allows you to set up automatic transfers.
You select the amount you want to set aside, when and how often you wish to set it aside, and whether you’d like Stash to automatically invest it in your ETFs and stocks, or simply place the money in your cash account.
It’s an easy way to save and invest regularly, on a schedule that works for you.
Tips for investing automatically
Still uneasy about automating your finances? Fear not, here are some tips on how to get started:
- Start small. Pick an amount of money that you can handle leaving your bank account on a weekly, bi-weekly, or monthly basis.
- Ramp up. Feels good? Ramp it up and automate a little more. Another $5 or $10 a week can really add up over the years.
- Go at your own pace. It’s not a competition. Everyone’s financial situation is different. It’s up to you to find the right amount of money that you can comfortably save and invest.
- Be realistic. You don’t want to overdraft your account or not leave enough money in your account for the essentials.
Remember, though, that no matter the amount or the frequency, investing always involves risk.
Commit to yourself
Automating your savings is a cornerstone of our philosophy, The Stash Way. And by automatically saving and investing on a regular basis, you’re reinforcing good money habits.
Consider Recurring Transactions as your commitment device—a commitment to saving for your future goals.
Turn it on, and harness the power of automation.
Make saving and investing a habit.
Go automatic with Recurring Transactions.Start now
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