By "automated savings" I mean putting paycheck direct deposit directly into savings. It's a great way to make yourself save. Out of sight, out of mind. You basically pretend you never earned it.
Now to be clear: I am not broke. My wife and I make way more than we spend. And our only debt is the house.
I appreciate that people are genuinely broke and stressed. And that mine is truly a problem of privilege.
But in practice automated saving means I'm constantly watching our money, nervous about overspending and waiting for the next paycheck to come in to cover our bills.
So I just wanted to call out that this idea designed to build financial security and financial independence actually creates the feeling of the exact opposite. And that's a really strange thing.
Thank you for reading.
Submitted March 28, 2024 at 10:03PM by tampatwo https://ift.tt/YRuwD9z
