How To Use Technology To Boost Your Finances
Written by
Cameron Diiorio
Edited by
Nicholas Morine
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Technology is so seamlessly integrated into our everyday lives that sometimes we may forget just how significant the work it is doing is. As of late, it seems that we encounter technology in every aspect of our society — and finances are no different.
Money apps have seamlessly integrated into our lives, and many people throughout the world use technology daily to keep track of their finances.
Here are a few ways to use the tools at your disposal to maintain your finances.
Payment Automation
Our lives can get busy, and with that, we sometimes forget to pay a bill.
“The top reason respondents missed a credit card payment was because they forgot to pay and not because they did not have the money,” according to Visualmodo.
With automated payment technology, the potential to miss payments is eliminated altogether.
Automated payments have many benefits. One of these is that it only needs to be set up once. Stress and worry are diminished when there is no pressure to make sure the bill is manually paid each month.
Budgeting Tools
Technology can also help individuals manage money through budgeting.
“From simple budgeting apps to online banking to AI chatbots and robo-advisers, technology has the potential to act as a powerful tool and guide on your wealth-building journey,” noted Kiplinger Advisor Collective.
When using budgeting apps, it is important to ensure that all expenses are accounted for.
“Include all potential expenses, including the money you set aside to refinance your house, savings for emergencies, and other miscellaneous costs,” Visualmodo suggested.
By being meticulous and truthfully inputting all of your future wants and needs, the budgeting app can work to help you reach your financial goals.
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