Home » Personal Blog » Investing » 3 Ways Technology Can Be Used to Improve Your Personal Finances

3 Ways Technology Can Be Used to Improve Your Personal Finances

Listen to Audio
Voiced by Amazon Polly

With the new year fast approaching, now’s the time to start considering what changes you are going to make in 2020. If you’re stuck for ideas, why not go for an old and reliable resolution — improving your personal finances.

By resolving to take on this challenge, come this time next year, you could very well have earned and saved yourself a fortune.

Fortunately, thanks to technology, you need not take on the task of improving your personal finances alone. To uncover three ways tech can be used to improve your personal finances, be sure to read on.

Make Use of Online Banking

If you haven’t yet taken the plunge and decided to embrace online banking, you are missing out on the opportunity to improve your personal finances. Once opened, an online banking account will provide you with instant access to all of your accounts in one place and at all times. This will allow you to keep a tighter grip on your spending; it will grant you direct control over your transactions and it will help you fight fraud should this form of criminality ever impact you.

Some other benefits of online banking include:

  • The convenience of making payments and saving money on the go
  • Lower banking fees
  • Higher interest rates
  • Paperless statements
  • Automated alerts regarding your account
  • Advanced levels of security

Read Financial Articles on the Web

The Internet is full of helpful articles relating to personal finance… all you need to do is unearth them and then give them a read.

DisputeBee, for instance, offers comprehensive pieces of advice on the matter of how to fix your credit. This advice includes:

  • The ins and outs of credit counseling
  • Advice on how to start building credit without a credit history
  • Assistance when it comes to understanding financial jargon
  • Information pertaining to FICO scores

Use a Net Worth Calculator

Determining your net worth is one of the best things you can do in your quest to improve your personal finances. Once determined, this amount will provide you with a comprehensive insight into your current financial situation — you’ll know what you can and cannot afford and you’ll gain an insight into the overall value of your assets. With this information at hand, you will then be able to develop realistic financial goals for yourself going forward.

You also don’t have to worry about spending hours scrawling through your financial books and records in order to determine your net worth. A simple Google search of ‘net worth calculators’ will pull up a host of helpful and free-to-use calculators that can be used at any time. To ensure that your net worth is calculated correctly in this instance, you must input the following information into your calculator of choice:

Assets

Liabilities

  • Mortgages
  • Consumer debt
  • Personal loans
  • Students loans
  • Auto loans
  • Other forms of debt

By using the forms of technology listed above, you’ll be sure to improve your personal finances in no time.

Check Also

btc crypto 310x165 - Cryptocurrency in Comparison with Other Monetary Alternatives

Cryptocurrency in Comparison with Other Monetary Alternatives

Listen to Audio The term “cryptocurrency” may sound a bit scary or seem difficult to …

Leave a Reply

Your email address will not be published. Required fields are marked *

Do NOT follow this link or you will be banned from the site!