1. Automate your finances.
If your financial plan isn't on auto-pilot, change that immediately, encourages self-made millionaire David Bach. Automating your finances — sending your money automatically to investment accounts, savings accounts, and creditors — allows you to build wealth effortlessly.
It's "the one step that virtually guarantees that you won't fail financially," Bach writes in "The Automatic Millionaire." "You'll never forget a payment again — and you'll never be tempted to skimp on savings because you won't even see the money going directly from your paycheck to your savings accounts."
Simply link your accounts, so that money from your paycheck goes straight to your 401(k) or from your checking account to your savings account, and set up the exact day you want to make transfers.
In addition to never making a late payment again, automation "frees up valuable time and allows you to focus on the fun parts of life, rather than spend time worrying about whether you paid that bill or if you're going to overdraft again," writes Bach.