Automatic Savings Quotes

Automate your savings so that you have money taken directly from each paycheck and deposited into a 401(k) or other workplace retirement account. If that's not an option, automatically have money transferred out of checking into savings each time you get paid.

Workers are most likely to save for retirement if they have access to a workplace savings plan and are automatically enrolled in that plan.

Positive defaults protect you from yourself - and that helps you to make decisions in the moment that are better for your long-term interests.

So setting up automatic savings plans, and buying insurance as opposed to buying a new thing. The newness effect of a new thing wears off in nine months to a year, but financial security can last a lifetime.

The lesson from behavioral economics is that people only save if it's automatic.

What reminds you in your environment about saving? Nothing.

With money we really fool ourselves. We are our biggest enemies with money and there are some things we can do about it. Automatic deductions are a wonderful thing. But ideally, you should wait until the end of the month, you can see how much extra money you had, and you should put that in your savings account. We don't do that too well, and if we did that, we would never save. So, what we do, is we take money out of our pocket into the saving account at the beginning of the month, take it outside of our control and as a consequence, we spend less and we save more.

If you're not putting enough away for emergencies or retirement, making commitments in advance, such as signing up for payroll withholding, can help.