Ready to finally get your money in order? Learn step-by-step how to gain control of your money and begin to build some wealth in this 6 part series! Part 2 is all about automating your bills.
Part 2 - Automate Your Bills
Ready for part 2?
I wanted to start off by telling you a bit about my situation and how I gained control over my own money.
I left our college system in over $80,000 of debt between student loans, car loans, and credit card debt. Yes, it wasn’t pretty.
I was raising two small children and living off a tiny salary even with a bachelor's degree in Finance and Accounting. I felt like my job wasn't fulfilling and my salary was even worse. I was struggling bad.
It wasn't the best way to start my adult life.
Fortunately, I took that bad situation and used it to my advantage. I decided I had to get this under control and fast.
I began reading everything I could on personal finance and investing. Blogs, books, videos, you name it. I listed out everything I learned into actionable steps and began doing them.
One by one, it was working. I was increasing my income, lowering my debt, and beginning to build some wealth.
It took years, but I finally emerged from that financial mess and had some real wealth to actually be proud of. Best of all I had freedom.
By the time I was 30:
I had escaped debt.
Owned multiple rental properties and my home.
Found a career I love.
Built well over $100,000 dollars in stock investments and had learned how to use technology to automate it.
A few years later I decided I wanted to help others do the same.
I started Let's Automate Your Life in 2015 to share my success story and how I did it.
Now here I am teaching millennials just beginning their adult life and career how to succeed and do the same. Life couldn't be better!
Anyone can do it. It doesn’t take a college degree in finance or significant studying. It just takes action! Just like the action you are taking in this series!
Ready to get started on step 2? Let’s go.
PART 2 - AUTOMATE YOUR BILLS
Bills are a huge pain! I don’t need to tell you that, do I?
I used to spend hours on them monthly. Not anymore!
If you get a handle on all your bills now, you’ll eliminate the stress and wasted time of dealing with them for the rest of your life.
The best way I’ve found to manage and handle bills is to use my bank’s bill payment system to schedule automated payments for all my bills.
List out all of your bills. Every single one of them. From your littlest bills like Netflix to your largest bills like electricity.
Assign each bill to a paycheck if you don’t have enough cash in your bank to pay them all after one paycheck
Schedule the payments immediately after you get paid to eliminate the worry of having the money in your account when the time comes to pay the bill. If your bill fluctuates, pay a bit more and they will apply the extra to your next bill so you don’t have to worry about paying exact amounts each month.
Every month your bills will be automatically paid and you won’t have to worry about having enough money when you do pay them and avoid spending all that wasted time messing with them.
This has been a game changer for me and I’m sure it will be for you to.
List out all of your bills
Assign each bill to a paycheck
Sign up for your bank's online bill payment service
Schedule your bills to be paid after your paychecks deposit each month
Watch for step 3 next week where you'll learn how to automate and begin eliminating your debt!
-David Shepherd | Creator of Let's Automate Your Life