Whether it’s for the love of money or being in love with money. A really great way to love your money is to let it go. 
What I mean here is to set your money free into an automatic mode that allows you to concentrate on the important things in your life.
Yes, we’ve setup an automatic online savings account as described in action one so we are in good shape when we need that “emergency” or “rainy day” money when bad things happen to good people - water heater breaks, furnace, deductible needs to be met, etc.
We’ve set up our retirement plan at our employer and money is flowing from our paycheck to our retirement plan automagically.
We’ve opened up a Roth IRA somewhere and setup an automatic deposit, purchasing the same amount of shares of designated mutual fund(s) a month. This is also called dollar cost averaging.
So what’s left?
Well, what else can you put on automatic pilot that has to do with your money world so you can quit receiving paper bills in the mail and start making this world a greener place?
Let’s start with your bills that come in every month. Can you get started on a level payment plan with your utilities - gas and electric? You could sign up for a level payment plan and have your utility bills paid directly out of your checking account every month. If you don’t lke level payment plans then pick your own amount as long as it covers your utility bills. Don’t pay too much though because remember we want as much money to invest with.
Here’s some more bills to put on automatic pilot:
- Cable TV (are you still watching cable TV?)
- Phone
- Internet access?
Which takes me down a path of questions:
- Do you pay for cable TV?
- Do you have a landline phone and a cell phone? Why?
- Do you pay to have internet access on your cell phone?
- Do you pay for text messaging on your cell phone?
- Do you pay for internet access?
- Do you go to the movies in addition to all this?
- Is all of this paying for itself?
- In other words, do you make enough money to pay for these items?
- Do these items bring you income? If not, these are all entertainment devices. That’s right. Think about it. Just another way to divert your attention to what you could or should be doing to make your life more better financially.
That’s a lot of entertainment folks!!
Credit Card Bills - Are any of these on automatic pilot? Do you allow the credit card company to hit your checking account and retrieve the necessary payment monthly plus a little bit more so you can pay it down quicker? Or do you have it setup so an automatic payment goes out of your checking account on a set date every month for a set amount?
Credit Card Applications - Do you get boat loads of credit card applications in the mail? If you’re not looking for one then immediately shred these bad boys. Buy one of these shredders or search for your favorite and put it in your garage or right next to the first door you walk in after you’ve brought in the mail. Shred, Shred, Shred!!
I prefer confetti style shred to better protect your personal information. Also, you don’t need to shred the whole application, just the page(s) that have your personal information on them.
While you’re at it you might as well throw away those coupons that save you so much money on things you don’t need. Do you really need to go to that new steak house across town by the 18th this month and plop down $50.00 for dinner to get $5.00 off? Couldn’t you grill out for a lot less and make it a bit more intimate for you and your lovey dove?
By the time you make it from your car inito your house you should only be holding the absolute necessary mail (bills, magazines, etc.) you want or need.
