Building wealth is a habit, not a one-time event. The problem is that relying on willpower to save money every month usually fails. The solution? Use technology to remove the decision-making process entirely.
Here are three types of tools every modern entrepreneur needs to automate their finances.
1. The “Round-Up” Apps
Apps like Acorns or Chime connect to your debit card. Every time you buy a coffee for $4.50, the app automatically rounds up to $5.00 and invests the extra $0.50. It sounds small, but over a year, this “invisible saving” can add up to over $500 without you even noticing.
2. High-Yield Savings Accounts (HYSA)
Stop leaving your emergency fund in a standard checking account earning 0.01%. Tech-forward banks like Ally or SoFi offer High-Yield Savings Accounts that can earn 4-5% interest. Set up an automatic transfer of 10% of your income the day you get paid, so the money grows before you have a chance to spend it.
3. Budgeting Dashboards
You can’t improve what you don’t measure. Tools like Monarch Money or YNAB (You Need A Budget) connect all your bank accounts into one dashboard. They use AI to categorize your spending, showing you exactly where your money is leaking so you can plug the holes.
Conclusion
You don’t need a degree in finance to build wealth; you just need the right systems. Start with one of these tools today, and let technology do the heavy lifting for your financial future.
