Automation is a powerful tool that everyone can use to grow their net worth.

By putting systems in place, you can automate your savings, investments, bills, so that all your money goes to the right places without you needing to think about it.

The most successful companies in the world automate.

Does Netflix manually email you every month asking you to pay $10?

Does Vodafone ring you up every month and ask for another payment on your plan?

These companies make so much money because they make money on autopilot!

That payment gets chopped straight off your credit card like clockwork.

Even the government automatically deducts your taxes from your paycheck before you even see it.

The good news is, this system can (and should) be used in your personal finances as well.

What Automation Looks Like

Automation means to put a system in place where things happen automatically.

If you struggle to save X% of your income, or invest some money every month, or pay your bills in full and on time, then automation is the secret sauce that will get you on the right path and your net worth climbing.

A basic example of automated finances might look like this:

• On the 20th of the month, you get paid.
• 30% automatically gets transferred to your share broker.
• 10% automatically gets sent to your savings account
• 5% automatically gets sent to your crypto broker.
• 3% automatically gets sent to Kiwisaver.
• Your credit card is set to pay automatically by direct debit on the due date.
• Your rent, phone bill, car payment are all set to pay automatically on payday.
• You can spend the rest!

Kiwisaver

Kiwisaver is a good example of an automated investment.

Every time you get paid, a small percentage gets taken out of your pay and sent straight to your Kiwisaver provider to invest on your behalf.

Your employer should also match that amount, and the government will partially match it also at the end of the year.

This is a great automation to have.

If you're not already enrolled in Kiwisaver, I recommend doing so for most people, including your kids!

You can read more about my Kiwisaver strategy here.

My Kiwisaver is currently with Kernel - you can read my review of them here.

Stocks

Automating stock investments is reasonably simple.

If you are investing the index, Smartshares has a direct debit option where they will automatically take a fixed amount from your bank account each month and put it into an index fund of your choice.

Smartshares fees can be a little high, but it's still a decent option for most people who want something simple and local to New Zealand.

Another option is to set up an auto-invest with your broker.

For example, Sharesies allows you to set up recurring orders to be placed every day, week or month.

In this example, I've set an automatic order if $1,000 each month, which will be split between an S&P500 ETF and Tesla.

So I will buying $900 of VOO and $100 of Tesla at the start of each month.

Then I just need to set an auto-transfer of $1,000 from my bank to my Sharesies account, and my share portfolio will now grow on autopilot.

Savings

It's also good to keep a little cash tucked away, especially when interest rates are generous.

Just set up an automatic transfer to your savings each payday.

This can be easily done inside your internet banking.

Here's how it looks in mine:

Crypto

If you're using EasyCrypto as your crypto broker, automating is easy.

Just head to the "Auto-Buy" screen and select which coins you would like to Auto-buy.

Then set up an auto-deposit with the bank details given to you.

As soon as EasyCrypto receives your deposit, they will automatically purchase your coins and deliver them to your wallet!

To ensure you've set up your wallets correctly, be sure to follow my guide on buying your first Bitcoin.

Streamlining Is the Secret

When you set up a system in this way, it means all your finances are streamlined.

You don't have to worry about overspending, remembering to make your investments, or forgetting to save.

Everything will be done automatically for you on payday without you even lifting a finger.

As you get more comfortable with managing money and your empire grows, you can branch out into other assets too.

Most importantly, this gives you more time to focus on other productive tasks, like side hustling and building your yellow arrows to grow your empire even more.

Keep hustling!

B