🤖 Automate your finances

How to setup your finances so things happen for you automatically

We totally get that managing your finances can be a bit dull - heck, there are more fun things to be doing in life than tracking and transferring money around!

A few people have asked if there is a way to simplify things, and yes, there is! So today’s newsletter is about setting up a few small automations to give you back time for the fun stuff. For us, that’s a weekend beach trip as the weather cools down.

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Over the years, we found automating the following 3 things maximises savings and keeps the stress of bill payments low.

1. 💰 Auto-transfer your savings

We covered the “Pay yourself first” principle in the 3 FREE tips email - did you know you can automate it? Set up a “Standing Order” with your bank to always transfer your monthly savings from your salary account to your savings account the day after you get paid. That way, you start making interest immediately - and - you won’t accidentally spend your savings!

2. 🧾Bill payments

Paying bills is a hassle. Miss a payment and it could negatively impact your credit score in the UAE. The easiest solution is to set up as many of your monthly bills on auto-payment, using your preferred credit card (more to come on our top picks soon!). When the time comes, the money will automatically leave your account. One less thing to do.

3. 💳 Credit card / loan / mortgage repayments

This one only works if your credit card, loan or mortgage is with the same bank as your salary account. Contact the bank and ask them to set up auto-payment and the money will be taken from your salary account every month. Remember, credit cards should always be paid off in full every month to avoid hefty interest charges.

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❓ How to do it - useful links

The links below will take you straight to the steps required to set up Auto Pay for each of those common providers.

• Savings transfer - Go to your online banking and look for an option to set up a “Standing order” (contact your bank if you can’t find it). Enter the IBAN account number of your savings account, define the amount, date and frequency, and you’ll be good to go. For example, transfer AED 1500 on the 31st of each month to your savings account.

• DEWA - look at “Auto Pay” for supported banks, then set up via Dubai Now app

• ADDC - follow instructions to “Set up Auto Pay” which will allow you to pay by debit or credit card, or “Direct Debit” for payments directly from your account

• Du - Set up Auto Pay from “My Account” either on their app or through the website

• e& / etisalat - Go to this link and set up Auto Pay using one of their methods

For other providers - Google the name of your provider + “auto pay” and, if available, this should come up with the right results.

Did you manage to automate anything else in your personal finances? Tell us so we can share it with others too!

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Disclaimer: Please bear in mind that this content does not constitute financial advice. Any choices you make you are solely responsible for. We always aim to provide the highest quality, independent views but do your own research to ensure you’re comfortable with any changes you make to your personal finances.