Feb 28, 2019
The Stash Way: Automate Your Savings
Why turning on Auto-Stash may help you get to your goals faster.
When it comes to saving money, automatic beats manual.
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 Auto-Stash and its quiver of powerful tools for developing better money habits.
Auto-Stash is an easy-to-use tool on Stash, and we consider it to be one of the most important financial tools. Auto-Stash 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.
Round-Ups add small amounts to your purchases that are automatically deposited into your Stash Invest account once your Round-Ups add up to $5 or more. Every time you spend with the debit card associated with your linked bank account, Stash will round up your purchases to the nearest dollar.
All of that change can add up with time, supercharging your savings.
Set Schedule is Auto-Stash’s 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 want 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 using Set Schedule
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, 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 Auto-Stash 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 Auto-Stash.Start now
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