Automatic transfers made putting money in high-yield savings painless - Business Insider

While I'm great at cutting costs and saving money, I'm not always the best at stashing the money away.. While I think about this goal often, remembering to actually make deposits into my preferred savings spot, a high-yield savings account, isn't always high on my list.

So, I did something that changed how I save: I automated deposits from my checking account into my high-yield savings account. It's easy — I logged into my bank's app on my phone and instructed it to automatically transfer the same amount of money from checking to savings after every payday. By doing this, I never have to think about saving — it just happens. It's been helpful for consistency, and I've prioritized and increased my savings because it all happens automatically. I never forget to move my money.Let's be honest: Saving for a future goal probably isn't on your mind every day.

Life is busy and full of distractions, and it's so easy to forget to initiate that transfer. If you're making deposits automatically, it's impossible to forget to save one month. You don't have to think about it, and it makes saving one less item on the monthly to-do list. Checking on my high-yield savings account is something I look forward to now. With automatic deposits set up twice monthly, my balance grows twice per month.

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