7/14/2015 – Should You Let an Algorithm Do Your Saving for You? (Bloomberg)

Jul 15, 2015 Comments Off by

Setting up regular automated deposits that zap money from checking right into a savings or investment account is the easiest—and often, most painless—way to save money. Once it’s set up, you can save with zero effort every time a paycheck is directly deposited into your checking account.

You might be shortchanging savings with that “set it and forget it” attitude. Even if you go in and make additional transfers now and then, odds are that there’s some “extra” money sloshing around in checking. That prospect has a growing number of online financial companies offering up programs to “personalize” savings with software that assesses how much you need to keep in checking to pay bills and then automatically spirits the excess into savings or investment accounts.

Read the full article in Bloomberg.

Financial Landing 2015

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