Psychology of saving

Unpopular Opinion: Automation isn’t going to save your finances

Common advice: Set up an automatic transfer to send money to a savings account to “save money”. Controversial opinion: Moving money between accounts is not “saving money” and automation is a poor substitute for building financial discipline. “Saving” defined According to Investopedia.com, “Savings” refers to the amount left over after an individual’s consumer spending is …

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