In this episode, I discuss the importance of automating your finances to save more effectively, particularly during busy work seasons. I share my personal strategy of splitting direct deposits between checking and savings accounts to ensure forced savings.

Additionally, I provide tips on automating regular transactions and how scheduling such transfers can help build financial security without the temptation to overspend. Automations and scheduled transactions can change your approach to saving, making it easier to build a financial cushion.

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Website: www.lovealwaysjess.com/getstarted

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Hey, everyone.

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It has been a while since

I've been on the mic.

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I have been in one of the

busiest seasons of my life.

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, Every year at work from end of

July, beginning of August through

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November, we are hammered down

with forecasts and budget season.

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So it's been a lot.

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I spend a lot on my plate, working late

hours, working long hours, , 16, 18 hour

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days, preparing for presentations, getting

all the numbers crunched, all that.

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So I have not been here recording

an episode for a little bit

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now, and I'm happy to be back.

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This Next season is going to be short,

quick, less than 15 minute episodes

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because of the season that I'm in.

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, things have slowed down a little bit,

but we're still in the thick of it.

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And so I want to be able to get

you content, but also respect

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my time and respect my mental

health, because it can be a lot.

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With that being said, today's episode I

want to talk about, because I actually

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have gotten a couple of questions

from people regarding this, and that

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is how do you essentially hide your

money which is a funny way to put it.

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Think about things because if

we know about it, we're going

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to want to spend our money.

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But one of the best things that I've

done for myself and that I think is super

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easy, which you might not be aware that

you can do, but I split my direct deposit

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up between bank accounts and that way.

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What it does is it ensures that I have

part of my paycheck going directly into

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a savings account that I don't touch, and

then the rest of it goes into a check in

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account that covers my bills and covers

You know any like fun things that I want

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to do going out with friends enjoying

a nice dinner here and there paying

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for groceries all that kind of stuff.

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And so that is Honestly, one of the

easiest things that you can do for

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yourself to set yourself up for financial

success Is having separate bank accounts.

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I know sometimes we sit here and we go

Let's just have all the money go in to

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the one bank account and then Once I

get my paycheck or at the end of the

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month, once I've gone through all my

bills, I'm going to transfer X amount

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of dollars over to my savings account.

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And maybe that does work for you, but I

don't know if you're like me or like other

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people that I talk to where they get to

the end of the month and they're like, you

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know what, I should have 500 left over.

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And so at the end of every single

month, I'm going to transfer 500 over.

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And then you get to the end of the

month and you're like, crap, I only have

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100 or I overspent in this category.

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And then it feels

overwhelming that you're not

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building up the savings that you

want, or you're not putting the money

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towards your goals that you want.

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Because say you wanted that 500 a

month, because you want to go on

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a vacation at the end of the year.

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And then you're like, oh, I only have 100

this month, which means that next month

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I have to make up that 400 difference.

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So next month I have to save 900.

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But then you get to the end of

next month and you only have 300.

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So then you're on a deficit now

of 600 for the past two months.

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And, Then you have to tack

that on to the next month.

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And so it just keeps adding

and perpetuating the cycle.

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Whereas the best thing that you can

do for yourself is automatically have

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that 500 go directly into your bank

account and say it is 500 and you

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get paid twice a month, split that.

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So you put two 50 on the first paycheck

and two 50 on the second paycheck.

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So then you're not feeling

restricted from one, one paycheck.

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And.

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It coming in 500 shorter, but you're

also not waiting until the end of the

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month to potentially have that 500.

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Now, obviously, if you have to dip

into that 500 that you put in, you can

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transfer it from that savings account

that you put it in safely and secure, but.

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What happens when you change your mindset

from, oh, I have that 500 here in the

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bank account, I can just spend it because

I see it, to, I'm hiding that money.

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That 500 is going directly

into my savings account.

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It's going directly into a

high yield savings account,

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and therefore you don't see it.

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So then when you're constantly

looking in, your checking

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account or your banking account.

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And you're like, Hey, I have 300 left.

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I've paid all my bills for the month.

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I can enjoy 300 worth

of dinner or something.

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Versus if you had that 500 in there and

you're like, I have 800 more to spend.

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So you're essentially hiding

the money from yourself.

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Another thing that you can do that can

be beneficial as far as like Hiding

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is Automate certain transactions

that you have occurring monthly.

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And obviously, automating

bills that get paid is great.

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I suggest only automating bills

that you know have a consistent

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value every single month.

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Don't automate credit card balances.

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Or If you have something that's got like a

basically a dollar amount that fluctuates,

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my brain is not thinking right now.

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If you have something that is a fixed

rate, so 400 a month, 25 a month, whatever

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it is, have that automatically withdraw.

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But if you have something that, like

your main credit card, or maybe a

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credit card, like I have a credit card

for Victoria's Secret, I don't shop at

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Victoria's Secret every single month,

and so there's no point in me having

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that set up for automation, because, it

wouldn't take the money, but the last

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thing I want to do is go and spend the

money on Victoria's Secret, And then

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not actively think, oh, I have this

payment coming up and forget about

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it because I'm not used to it pulling

automatically from my bank account.

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So I'd rather that be something that

I go in and physically pay separately.

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I don't set it up for automation.

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But one of the example that I have

is I obviously have A recurring

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phone bill for my internet.

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And I guess it's not, but AT& T

in my brain is a phone company

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from way back in the day.

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So my internet bill it's recurring.

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It's the same dollar

amount every single month.

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And so I have that set up for automation.

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The other thing that I have set up for

automation is I want to Send a hundred

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dollars a month to my investment account

And so I automatically As soon as my

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paycheck comes in I put a hundred dollars

into my savings account and then It pulls

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a hundred from that through automation,

and then that way I automatically know

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that hundred dollars can't be touched.

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That's sitting in my savings account

until it gets pulled over to my investment

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account, and whatever is left in my

checking account, Is what I can spend.

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So there are these little automations

that you can set up, or if you're not

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necessarily trusting of automations,

schedule a time on your calendar.

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Say I get my paycheck on the 15th

of every single month, I'm going to

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go in on the 15th and I'm going to

automatically transfer the 250 from my

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checking account, where I have my direct

deposit going into my savings account.

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Instead of waiting until the end of

the month, instead of waiting until

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you've done your checking and balancing,

instead of waiting to see what you have

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left over, the day that you get your

paycheck, automatically go in and move it.

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So if that's something that you

want 100 to go into investments and

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then 250 per paycheck to go into

savings, schedule it on your calendar.

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I highly recommend using the system

automations because it's nice, you don't

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have to think about and then Mentally,

that money gets to stay hidden from

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you, and you get to keep building up

your buffers and your cushions to be

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able to have that savings account , be

your, like your safety blanket.

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They always suggest having

six months of expenses.

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That's so hard to do

in today's day and age.

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But if you hide this money from you,

you're going to get closer to it.

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And you start small, maybe it's 50.

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I don't know how every single direct

deposit choice is set up, but some

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of them you can choose a percentage.

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Some of them you can

choose a dollar amount.

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I always suggest doing a dollar amount.

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But if you're a percentages person

and you want 10 percent of your

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paycheck to go directly into your

savings account, then do that.

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So that is today's quick tip of how to

financially hide your money from yourself.

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It's not necessarily hidden.

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I want you to still be aware of it.

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Please be aware of it because the

last thing you want to do is be

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like, where did all my money go?

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And then not know.

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Make sure you have your logins

to your accounts, et cetera.

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But the beautiful thing about Pseudo

hiding things from yourself is that

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you're not going to spend the money

because most often people look at what's

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in their checking account Because it's

also a pain in the ass to have to do

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transfers back and forth Because you

have to log in and you have to make the

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transfer And you have to wait till the

money actually transfers depending upon

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if it's within the same bank or across

banks So yeah, that's my quick tip.

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I hope that it helps you Think about

what things you could automate To save

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yourself time and to essentially start

saving more instead of spending as much.

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Have a wonderful day.