Millennial couple explains the benefits of automating their money - Business Insider

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Experts say spending less time on the routine tasks frees up more time to discuss important financial decisions as a couple.

mortgage

set up on autopay, which comes out of their joint account, which they fund with their paycheck via direct deposit. For example, Bittner likes to auto-invest weekly into her public market investments, including retirement, and put the rest into early-stage startups.Corson-Knowles, on the other hand, is a saver. He likes to save as much as possible from his paycheck and sock it away into his high-interest savings account.

"Automation reduces the amount of time and energy we spend on financial decisions," said Jeff Kreisler, the co-author of ""We need to talk to our partners about big financial decisions, not hide from them," he said, "but if half of our prodding is about something that causes us stress, then that can erode the overall positive tone to our communications, which are the underpinning of a successful relationship.

It's hard enough for couples to master their money when they come into a relationship with limited knowledge about how to handle their personal finances. The right tools, both technological and emotional, can ensure success.Sign up for a daily selection of our best stories — based on your reading preferences.

 

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