One particularly simple way to save cash is to automate the process. By establishing and an automated withdrawal and deposit of funds from one account to the other, you are more likely to stick to your savings plan. One reason is because the automated process doesn’t allow you to get your hands on the cash that you are likely to spend. Many people find saving money to be a nearly-impossible task. Because of the onslaught of bills and expenses each month, they have a hard time making saving cash a priority.  They feel that whatever money is “left over” will go into the savings account and are surprised each and every time when there is no money left over.

By establishing an automatic plan to save, you essentially set your mind to accepting the withdrawals each time. You no longer have a reason to worry about what’s left to save and as time goes on and you see the account grow, you will likely become a more motivated, more confident saver.

How Automation Makes It Easy

Setting up an automated savings plan is pretty simple. In fact, there is more than one way to do automatically deposit a set amount of money into your account on a regular basis. The first way you can automate your savings deposit is through your employer. If you have signed up for direct deposit of your paychecks, you can complete a form that allows you to direct deposit the bulk of your money into one account and assign another amount to your savings account. This way, each time your direct deposit goes into the bank, you will add a little more to your savings account on a regular basis without any extra steps.

For those who do not have access to direct deposits, you can visit your local bank branch and request that your checking and savings accounts link together so you can establish an automated transfer from one account to the other. Again, with automated money transfers, you never have to touch the cash or remember to make a deposit.

Set It and Forget It

Once you start depositing money into your savings account, forget about that money. Of course, you should always keep your eye on your banking statement for errors but as for the money, forget you ever had it. Don’t fool yourself into thinking that you could “borrow” from your savings account unless it is for a true emergency. The likelihood of you paying yourself back early on is not realistic. Over time, as you begin to see the account growing, you may be less likely to use the money impulsively. But in the beginning, you have to learn to practice self-control and leave the money alone.

Keep the Accounts Updated

If you get a raise or other increase in income, don’t forget to make adjustments to your automated savings accordingly. Should you pay increase, it makes sense to have your savings deposit increase as well. Don’t forget to update your bank accounts and automated deposits of your paycheck. In the event you get a cash bonus or other unexpected windfall, plan to put it into the savings account and let it sit for awhile, otherwise it will probably burn a hole into your pocket.

Need To Save? Get Set to Automate was created by and is property of American Consumer News.

While it is no longer safe to rely on floating time, there are some ways you can help protect yourself and still pay your bills on time while living check to check.

Direct Deposit Your Paycheck

While the Check 21 Act may make it faster for companies to take your money, the measure did nothing to increase the speed of depositing a check into your account. You may still have to wait several days for a check to clear and allow the funds to be available in your account. Direct depositing your check will ensure not only that the funds will be available to you faster, most times your direct deposit will be put into your account ahead of those getting payroll checks. Generally, direct deposits will be available by midnight on the day of payroll.

Write Yourself a Check

$100, $500, $1000 – whatever you can afford at the time. Deduct the money from your account but don’t cash the check. You will always have a cushion in your checking account to help you avoid overdraft fees.

Bank Online

Most banks allow you to control your accounts completely online. You have access to your account activity at any time and you can always be aware of how much money you have and where it is going. Contrary to popular belief, banking online is safe due to encryption technology and you may be more likely to be “hacked” when sending payments through the mail.

Request New Payment Dates

Take a look at the due dates for all of your bills. If you see that they all fall in the same time period, contact some of your creditors and ask if you can change your due dates so you have a more even split between paychecks, making it easier to pay on time. Many companies will accommodate your requests but be warned – some may charge you a fee to switch the dates so ask about this when speaking to an authorized representative.

Use Email Alerts

Companies often offer account management on their websites. You can set up your account to notify you by email when a bill is due, when your balance reaches a certain point, and confirmations of payments made. Busy lives often make us overlook due dates so having an instant reminder will help reduce missed payments and the resulting late fees.

How To Deal With the Demise of ‘Floating Check’ Times was created by and is property of American Consumer News.