Melissa is a salaried employee who earns roughly the same amount in every paycheck. Why would it be a great idea for her to set up an automatic transfer every pay period into her savings account

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01-03-2022
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Melissa is a salaried employee who earns roughly the same amount in every paycheck. Why would it be a great idea for her to set up an automatic transfer every pay period into her savings account

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Tundexi Tundexi · Answer 1 · 2022-03-11T09:37:15+01:00

It will be a good idea to set up an automatic transfer every pay period because its prevents anyone from forgetting to pay yourself first as well as preventing to spend the said money.

What is an automatic transfer?

An automatic transfer refers to an arrangement whereby a preset transfers is done from customer's account on a regular basis to another accounting.

In conclusion, the automatic transfer is very effective in maintaining a strict saving culture because its prevent the spending of disposable income.