Top 10 Ways Technology Can Improve Your Finances

Today, technology’s influence makes an impact on our everyday life. From keeping us informed, updated, connected, entertained, and whatnot, a life without tech seems difficult, if not impossible, to imagine. Think about it, most of the credit for our current fast-paced lives goes to technology’s influence on society.

How else would we get instant access to everything we need? The whole world is available at our fingertips through our smartphones, which is why it’s no more uncommon to find people, irrespective of their age, lost in their phones.

While some are busy watching funny videos, sending good morning messages, liking posts, others are on video calls, writing or reading blogs, investing in the stock market. Basically, the reasons for using the technology’s influence range from personal to professional.

There is hardly anything that you can’t do with tech today. So if you are struggling with finance management, budgeting, and accounting, know that you are not alone. And understand that there is a community of people with a similar problem using technology influence to improve their finances.

Here are ten ways people are using technology influence to improve finance. Join them and see how others are making decisions easily with the least effort.

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10 ways technology is influencing finance

Technology Influence Impact #1 Automate With Apps

Automation is slowly becoming a new normal. Several investment companies have already introduced auto-payment modes for their clients. Look at how technology influences business activity today. Businesses use automation for as many activities as possible, and finance is one major part of it.

Right from making invoices, payments to accounting, most of their tasks are automated. The technology influence would impact your automatic payments of utility bills, monthly medical requirements, savings, investments, etc.

Furthermore, some apps even warn when you cross your limit of monthly expenditure to control your finances. While technology’s influence on finance assures easy payments, no late fees, no increasing interest, it comes with the risk of error. Everything could go for a toss if the automation function fails due to an error.

Hence, it is necessary to check your accounts regularly to confirm that the automation is working properly and you are not falling prey to the disadvantages of technology influence.

Technology Influence Impact #2 Internet Banking Services

Technology influence has caused the upgrade of financial institutions as well. Almost all major financial institutions across the globe provide internet banking facilities today. You don’t have to visit a bank for tasks such as investments, money transfers, and updates anymore.

Therefore, you can save a lot of time, thanks to the influence of technology. Also, since the services are available 24/7, working professionals do not have to worry about taking time off for trivial banking tasks.

Technology Influence Impact #3 Apps For Financial Education

Financial management and knowledge is a skill that one needs to learn. There are several things to know about it and since it is not involved in school education, most people struggle with it. However, technology’s influence helps in educating people about savings, investments, management, and growth of finances in simple words.

Many platforms are coming up with the idea to create communities to help each other with financial education besides sharing helpful content. So besides getting useful tips, several of these platforms ensure that you remain updated on the news that could help your finances.

Technology Influence Impact #4 Follow Social Media Influencers

A massive technological influence on entertainment is seen through the use of social media. The content consumption pattern has changed due to the several social media platforms popular today. Since most people are using social media, if not addicted to it, for entertainment and connection, you can add your financial benefit to it with ease.

All you have to do is join groups or follow hashtags to find social influencers who are using their technology influence for finance and are regularly creating content on investments, financial management, budgeting, etc. One of the biggest advantages of following social media influencers is the variety of topics they cover.

Technology Influence Impact #5 Listen To Podcasts

Technology influence communication has recently popularised another mode through podcasts. Similar to blogs, with the popularity of audio content, more and more subjects are being covered, making it easier for people to educate themselves even in their busy schedules.

For example, there are several financial experts who make use of technology influence in the industry and have their specified podcasts channel. Social media and Google are good ways to find popular podcasts.

Technology Influence Impact #6 Apps For Budgeting & Accounting

Technology influences innovation in business today has led to the development of several platforms for planning, monitoring, and controlling budgets. There are also apps to help people and businesses with keeping and maintaining accounts regularly.

So, if you are struggling to understand where your money is going month after month with absolutely no control, accounting apps can be your way to trace your money. The technology influence makes people analyze and evaluate their expenditure and savings with the help of simple reports created by these apps based on their monthly expense data.

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Technology Influence Impact #7 Investment Apps

Investments have always been a major part of financial management and growth. Technology’s influence on investment apps has led to the development of advanced platforms that can easily be understood and used by common people with even minimum financial knowledge.

The apps are helping people manage all their investments, from Trading Stocks, SIPs, to Mutual Funds in one place with minimum brokerage costs. Similar to technology influence in business, investment apps are reducing effort and complications by offering improved organization.

Technology Influence Impact #8 Calendar Reminders

If you are one of those who do not prefer automating payments, calendar reminders can be a great alternative. Technology influences life in a way today that you don’t need to hire assistants to get one. If you enjoy life with a virtual assistant, then remembering things becomes even easier.

Technology influence causes several people to sync their digital calendars with a virtual assistant to remind them of the bills more naturally than a notification.

Technology Influence Impact #9 Saving With Coupons

One of the best things about technology’s influence is that it benefits you in several ways. Besides making your life easy, you get to save more. Technology influences businesses to use digital platforms for marketing strategies. And hence, you get discount coupons on making payments online on most platforms, be it shopping sites, e-wallets, or bank apps.

Technology Influence Impact #10 Voice Instructed Banking Facilities

Another advantage of technology influence is financial assistance for the visually impaired. Most search engines and apps have updated themselves by enabling voice inputs. It helps not only the visually impaired but also people having difficulty with typing for different reasons. Although the application is still under limited use, several banking companies and financial apps are eagerly advancing towards it.

Conclusion

Nothing is too difficult to find today, thanks to the extreme competition in the content industry. There is hardly any topic you will find uncovered on the internet. The same is the case with finance. One search and you will be loaded with options to help you educate, plan, monitor, control, and even grow your finances.

Trading apps, coupons, automation, internet banking, financial podcasts are all technology influence examples impacting the financial decisions of millions today by making it effortless, fast, and convenient. How do you plan to use technology influence to improve finances in your life?

10 ways technology is influencing finance

About the author: William Benetton is a famous writer, professional photographer, and web designer. Last few months he has been creating interesting, informative blogs and websites such as Book of Dead. If you want to contact William, please check his Facebook. He can’t imagine his life without sport, travel and morning coffee.

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