In this video I’ll walk you through how (and why) I automate my finances, including bill payments and investments.
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🧐 Watch a full-length (47 minutes) companion video to this on on Nebula, where I go through my entire budgeting/financial planning process and custom spreadsheet template: https://curiositystream.com/thomas
📱Here's my budgeting spreadsheet template: https://thomasjfrank.com/free-budgeting-spreadsheet-template/
🖊 Quote of the week: “It is not hard to make money in the market. What is hard to avoid is the alluring temptation to throw your money away on short, get-rich-quick speculative binges. It is an obvious lesson, but one frequently ignored.” – Burton G. Malkiel, "A Random Walk Down Wall Street" 👈yet another great reason to automate your finances.
I just go to bank and get cash out. Then I drive to all the utility company offices and pay my bill. Then I drive over to the mortgage bank and pay that mortgage bad boy. I save tons on postage!
Do you have the flowchart somewhere? Checked the article and didn't see it either.
A waste of time. If you make less than 100k, focus on making more. If you make more, hire an accountant.
What app do you use that does all this?
Thumbs up just because you put a Civ reference in a finance video.
great first take, you have about 1/3 of it automated right. there is still a lot more you can do
Quicken – I started using Quicken in the 80's. I have every transaction, every stock buy and sale, all 401k investments, all pay checks with break down from tax categories, medial, insurance, all tied into the planning session to do crazy WHAT IF SCENARIOS for retirement, savings for kids college, etc., etc. All tied to my bank accounts and monthly reconcilations – transactions download and I schedule bill payment from within Quicken.
160 hours averaging 14$ an hour net = 2,240 a month. Any part time / full time night jobs you (Thomas) or anyone else would recommend for me to improve my situation? I keep ending up close to zero after rent, cell phone, medical insurance, car payment, and food.
You should include YNAB in your discussion… especially for 1-month buffer.
I figured a few of these only recently .. for instance only this past year have I posted both income and due dates. I keep both due date and closing date which IS NOT the same. And I always put the renewal date for subscriptions, many of which come up annually.
Super hard to save with me seeing the fender acoustasonic in the background. 😆
I’m kidding. I do like it though. Good informational video!
Is the Personal Finance Tech Tree available somewhere as a resource?
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Adapt to a lifestyle, be thrifty, set a budget, save money, and make investments to live within your means. I benefited from this as a six-figure income. With this strategy, my retirement savings have increased by almost $1 million.
This content is absolutely stellar. A book I perused with similar themes revolutionized my approach to life. "A Life Unplugged: Reclaiming Reality in a Digital Age" by Theodore Blaze
Would you share the "Tech tree" you talk about?
$30,000 a year saved. Not bad.
Nice! I am on the right track. I am already automating investments and bills. I need to look into credit card rewards. Thank you 🙏🏿
Hey, as a creator, I was thinking of posting on skill share but is nebula better ?
Step One: Get a job.
Step Two: …
Wait! Hold up… I'm still working on ste-
Oh I got a jo-
Never mind I got laid off after 6 months.
I'll come back in a few months.
Thank you for the video, this will ensure i will not be disturbed and I'll have a stress free hibernation :))
I don't think it's a good idea to automate all of your finances. For instance if I lose my job and no longer have an income coming in, I want to decide which of my bills get paid and what order. I don't want my automation kicking in and paying Netflix when that money needs to go to electricity.
How do I access the free budgeting excel sheet?
This is the video i needed to see to know i am on the right track.
First part he missed… make sure you have a consistent amount of minimum income that can be automated.
Any way to get to the nebula video? Appears to have expired. Thx
What app does he use to map out his thoughts like that anyone know?
Half a million views, 14K likes and only 228 dislikes. He just said "automate your finances" without telling how to do it and then spent about 30% of the video telling use about a sponsor and how you should buy a book.
This is pitiful.
awesome tips, Frank! thanks for sharing
Wanna a good financial advise? never marry, never get kids this solves 90% of you problems
But how do you name all those automated transfers? For example my bank doesn’t have the option to name those automated transfers in a specific pattern. For example I would like to name the transfer as “savings for month xxx” and xxx should be the name of the month in which the automated transfer happens. Do you have some solution for that?
At 2:25 what type of account did you set up at Vangard?
No info that i already know.
9/10 of this video was advertisement for the final part: Nebula / MOOCs just for cash. 💲 This is why people who are talking about „getting rich“ will be rich, not the user/costumer.
I want to find a way to automatically pay my property taxes
8:40 the robots got me as a gamer. Where is the personal finance tech tree? Can I download it or is it posted?
Im not really sure I get this video, Isnt it much harder to have anything not on auto pay, like credit card, rent, subscriptions? I thouht I would learn something about software or tools to manage it better.
Is it possible to get access to the personal finance tech tree, Thomas?