Quote Of The Week: Stop Saving Your Money

The New York Times Smarter Living columnist Tim Herrera shares one of his New Year’s tips for getting better at money in 2021.

His advice is to “stop saving your money.” No, he doesn’t really mean to stop saving, but he does mean you should put all your savings on autopilot so what you need to save comes out automatically each paycheck. We think it’s a great idea, and have helped many of our clients set up automatic savings plans. Here’s Tim’s advice. See if it can work for you!

You Should Stop Saving Your Money.  OK, to be a little clearer: Stop actively saving your money. Automate it so you just don’t have to think about it. This is what I mean by mindless saving… Automate your savings so you never even have to think about saving anything. Take yourself completely out of the equation — you can’t miss (or spend) what was never there.”

Tim Herrera, The New York Times, “7 Wonderful Non-Covid Things We Learned in 2020,” January 5, 2021

About Mari Adam

Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

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