Be Successful: Automate EVERYTHING

Successful people all have this in common: they are highly focused on the things they do well. They don’t worry about the little things, they outsource the items that they aren’t good at, and they make systems that take care of everything so that they don’t have to worry about the little things. Are you automating? Your payroll services specialist in Billings, Montana explains how automation can grow your net worth, increase your productivity, and retain your sanity.

What is Automation?

Basically speaking, just about everything can be put on autopilot. Most of your bills have the option to pay automatically every month. Most of your savings accounts can be set up to transfer money every month. In fact, most people are already being paid via direct deposit (automatically) every month. Letting computers do the work allows you to focus your energy and efforts elsewhere.

Benefits of Automation

Have you taken the time to see what the penalty is for paying your bills late? Chances are that you haven’t; most people don’t. For most mortgages, if you pay late, you owe an extra $35. Credit cards are usually about $20. Utility bills often give a grace period, but can be 2% of the bill (or $5 whichever is more). These costs add up quickly, and a couple of late payments each month can result in charges of $100 or more.

When you automate your finances, you don’t have to worry about paying anything late. All you have to worry about is making sure that you are working hard in order to bring in enough money to make sure there are no overdrafts when those automatic payments go out.

But the benefits go beyond just paying your bills. You can automate your savings and your investments as well. The reasons are clear: humans are silly and fickle. There have been multiple studies around that show if left to our own willpower to save and invest, most of us will forget at least a couple times per year. This means you will lose out on a lot of savings and investments over the course of your life. However, if you take the emotions, willpower, and decisions out of it, then your automated savings and investing are doing the majority of the work for you.

For those who are business owners, there is more to it than just automated bills and investing. You can also automate services and chores. For instance, your payroll can all be automated. You just confirm the numbers with your accountant in Billings, Montana, and then paychecks are all done for you (or direct deposits). No worry, no mistakes.

Practical Taxes

Practical Taxes is a full service accounting firm right here in Billings. We can help you meet your business goals through consultation, payroll services, tax preparation, and much more. By taking these things off of your mind, you can focus on the things that you do best: and the things that bring in the most money. Call us today at 406-894-2050 to learn more.