This document describes an automatic wealth building habit using bank bill pay. It involves setting up recurring automatic payments from your bank account to savings or investment accounts to take advantage of compound interest over time. The key steps are: 1) Open a bank account that offers free bill pay services. 2) Decide who you want to help build wealth for, like yourself, children, charities. 3) Set up recurring automatic payments from your bank account to savings or investment accounts of your choosing for any amount and frequency. The bank sends checks without any effort from you. 4) Take action by setting up your first automatic payment through your bank's bill pay system by providing account details of where you want

1. The Automatic
Wealth Building Habit

2. OK, here it is...the amazing,
automatic wealth building
habit I have been telling
you about.

3. You are going to love this
one because you do not
even have to remember the
habit....a banking computer
remembers the habit for you!
How is that possible? Read
on and you will soon see.

4. Here is how the automatic wealth
building habit works. It is based
on the miracle of compounding
interest and the amazing banking
technology that is available to
virtually all of us today.

5. Step 1
If you do not have a bank account
with "Bill Pay" go to a bank that has
it and open a new account. Ask them
how many checks can be sent per
month, can it be managed via the
internet, what are the costs. Many
banks now offer this service for free
as a promotion to get more customers.

6. Step 2
Decide who it is that you want to help
build wealth. Yourself, your child, a
grandchild, or even a friend. This habit
also works for building spiritual wealth...
more on that later.

7. Step 3
After you open the account you now have the
ability to select any amount of money that you
want sent to any person or organization and at
almost any time interval. Some banks even offer
an unlimited amount of bills that can be sent.
The banks will then mail checks at regular intervals
to the people or organizations you have designated...
you do not have to do anything.

8. The real power of this habit is
that you are not going to be
sending bills in most cases...you
will be sending wealth building
payments....automatically!

9. OK, before we get to step 4 let's
look at the amazing power of
compounding interest to see how
much wealth can be built over
time with this habit.

10. Here is an example of how much
wealth you could build by having
your bill pay send just $50 per
month into an account (mutual
fund, IRA, etc) that has a 5% yield.

13. This is where research can help
you, it is beyond the scope of
this article to show you all the
amazing possibilities that exist.

14. The beauty of the bill pay system is that it is very easy
to adjust your recurring amounts up or down based
on your current financial situation. As an example,
you could set up your bill pay to send $12.50 each
week into an account (Equals $50 per month) or
change it to $15 per week for a few weeks and
then back down to $12.50 at a later time. You
decide exactly who gets the money, how much,
and how often....you have complete control at
all times. It is amazing wealth building power.

15. Step 4
Now it is time to set up your automatic wealth building
habit using your banks bill pay system. Get the address
of the person or organization you want the money sent
to including the account number. Go online and set up a
new account with this information. Set frequency and
amounts. Note: I have been doing this since 1992 and
have multiple accounts (Charities, IRA's etc) that have
received money from me every month for 14 years and
I have never written or signed a single check! I know
from personal experience that the system works and
I have never had any problems.

16. You can get very creative with
how you build wealth and
who you help build wealth.

17. Set up an automatic bill pay to fund a child’s
college education. There are many states that
have plans that start with low monthly
fees when the child is born or still young.

18. Set up an automatic bill pay to fund a
child’s savings account, just have the
money be sent to the child’s bank with
their account number listed on the
check memo "Deposit to account ####"

19. Set up an automatic bill pay to send a
Charity a payment every week. Remember
that I said earlier that this habit can help
you build spiritual wealth? If your church
receives an automatic charity payment
every week you are helping to support your
church every week, even when you
miss a Sunday service.

20. Set up an automatic bill
pay to send money to
someone in need.

21. Set up your bill pay to actually pay
bills that you have paid late in the
past......you may be able to save
enough in prevented late fees to
fund your wealth building payments!

22. The possibilities are endless.....
you just need to take action
and make it happen!

23. Dan Robey
www.thepowerofpositivehabits.com