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Benefits of Investing in Auto Mode

By Poshita Bhatt - Feb 9,2022
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So, you did it again!

The latest online sale made you lose track of your monthly budget. You spent extra on shopping for apparel or furniture or a fancy gadget maybe and now you’re hating yourself for your extravagance. It’s already the end of the month, the time when you’re falling short of cash for your monthly installment for investments. Sitting with your bill receipts, you’re wondering where all your money went? You’re not alone. Trust us. 

Managing money is no cakewalk

Money saved is money earned. Doesn’t matter how small you start. What matters is that you take the first step towards a long-term commitment that is only sure to benefit you in the long run. Once the process is in place you are left to spend your money without guilt, regret and tension. 

When you have put your monthly payments and bills on auto mode, then why hesitate to invest the same way? Here are some of the benefits of investing in auto mode to help make up your mind. 

1. You avoid unnecessary expenses

“Supply creates its own demand.” This is a phrase often repeated in economics. We tend to make up unwanted expenses and indulge in stuff that we don’t actually need, when we have a fat figure in our accounts in the form of freshly credited salary. The realisation of the futility (and sometimes stupidity) of it all only comes too late. The extra stuff we hoard only takes up space in the house and eventually ends up in the attic.

2. Takes care of your lack of self-discipline

It’s not rare to find yourself postponing the investment date due to several reasons ranging from work load and hectic schedules to unforeseen emergencies that may sometimes stretch up to days or weeks. Delaying investments beyond the deadline may lead to unnecessary penalties. The worry of this extra task that anyway has to be done, is the most needless burden that you carry like a potato sack. Think about it. When the rest of your subscription bills and necessary monthly expenses have been automated, then why not your investments too, which by the way are perhaps most necessary!

3. Saves time and is hassle free

Time is money. Nobody knows this more than today’s generation. Making even an online payment manually is a slow and mundane task. The multi-step process is like using the pen and paper method in times of the internet. The only thing that is keeping you from reaping the worry-free benefits of lightening-speed and hassle-free auto payment method is initial hesitation. Once you take to it, there will be no looking back. 

4. Makes saving a habit

Research says that auto-deducting the necessary investment amount at the start of each month inculcates in you the habit of saving. It makes you a disciplined person regarding your expenses, as the first step that you take in the month automatically is a congratulatory message in itself of saving up for a better future.

5. Guilt free spending

With the installment money deducted, one look at your account balance lets you know how much you have left at hand to spend wisely. Your mind automatically aligns your expenses to your needs for the month and the unnecessary spending is weeded off. Result – no guilt at the month end. 

6. You reduce the risk of investments

As opposed to sporadic investments spread across months, where the chances of risk at market failure is high, regular automated monthly investments distribute your money uniformly in different places and hence reduce the risk of losses.

7. Leaves you no excuse

Once you have committed, you keep to it. Even though your plan may be flexible, you do not make changes until absolutely necessary. Once you take the initiative your excuses, laziness and procrastination are thrown out of the window. 

Conclusion

It is no secret that investing has become a necessity in today’s fast-changing world. Therefore, it’s imperative that monthly investments are managed efficiently, such that, not only your future is secure but also that your daily life is free of hassles and worries regarding your budget maintenance.

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Bajaj Finserv Direct Limited ("BFDL") is primarily engaged in distribution of financial products and services through its digital platform (“Bajaj Finserv MARKETS”) and inter alia renders services of customer acquisition, providing preliminary credit support activities, fulfilment services and post-acquisition customer services to Banks, NBFCs, HFCs. BFDL is also a registered Corporate Agent (Composite) under valid IRDAI registration number: CA0551 valid till 10-Apr-2024 for solicitation and servicing of Insurance Products. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522