Automaticity

My kids’ dyslexia tutor likes the work automaticity. She often says “automaticity “regarding progressing the kids in her reading curriculum. They need to be able to read those skill-level words automatically to progress. Which takes time to master, but they are slowly working their way there.

I had to look up the definition of “automaticity,” which means the quality or fact of being performed involuntarily or unconsciously as a reflex, innate process, or ingrained habit. I, like my children’s tutor, want you to make your savings and investing to be achieved involuntarily or automatically.

I suggest you automate your savings before spending a penny to make this happen. (Sadly, taxes don’t count here.) There is no guesswork or trying to save what’s left; it gets done automatically every month. It honestly has made my life easier.

I set up my savings automatically in two ways. The first is right out of my husband’s paychecks for retirement funds. The second is done automatically from the checking account for our sinking funds. Let’s dive deep into both.

Straight out of the paycheck: This goes to a 401K saving for our future retirement. Saving for our future is essential. A certain percentage of his compensation goes to this account every payday; we adjust this percentage as our budget allows. We have learned to budget and live without this amount of money. The best thing is, the more he works, the more we get to save.

The second is done automatically from our checking account at the beginning of the month. This represents the fixed monthly allocation we set aside for our irregular expenses. We call them our sinking funds. When we were building our emergency fund, we did the same thing. You could have an allotment from your check to your savings to not have to stress about the funds being in the account on a specific day.

Either way, it is all done automatically. I don’t have to remember to transfer funds from one account to another. It is just done without me having to remember, which, with my ADHD, is a good thing. Plus, this way, I don’t accidentally spend it.

If you wait to save what you have at the end of the month, you won’t have anything to keep. We, all people, have a hard time saving this way. We get a dopamine boost when we shop. Those with ADHD lack dopamine, so spending everything we bring in is super easy. That is why I suggest you pay yourself first. That’s right, you come first.

The additional importance of savings is the psychological perks of saving up to make a purchase. This also increases dopamine. The anticipation of the item can create excitement, which will release dopamine over time.

Automatic saving is a crucial tool in anyone’s financial toolkit. It’s like a safety net that ensures you’re consistently building your financial future, even when life gets hectic, which can be particularly beneficial for individuals with ADHD.