A lot of people don’t realise how much of an impact technology can have on their personal lives and finances. If used correctly, technology could help you get out of a financial rut and enjoy financial independence. If you have trouble making ends meet and you’re reluctant to use technology, you need to change your views right now and start looking at all the ways that it could help. Let’s take a look at how technology could help you fix your personal finances and thrive financially.
Easy Access to Alternative Financing Options
There was a time when getting a loan directly deposited into your account one day after applying was like science fiction, but this is something virtually anyone in this country can do today, even if they have what is considered bad credit. Some lenders will allow you to apply for e-transfer payday loans in Canada 24/7 and get money deposited in your account in minutes. And the application process is mind-blowingly easy in most cases.
Invest Your Money Easily
Another thing that technology has done is democratise investing. Besides the numerous applications that allow you to invest your daily savings, you can access a wide basket of exchange-traded funds right from your phone through simple applications. You can also use a Robo-advisor who will look at things like your desired returns, income, and risk tolerance, and create a basket of investments made specifically for you. This allows you to get access to services similar to what you’d get from an actual advisor for a fraction of the price.
Couponing and Deal Apps
Technology also allows you to save on all sorts of items through different means. You can sign up for a retailer’s newsletter and get an instant discount just for signing in. You can expect these retailers to keep offering deals through their newsletter, let you know of upcoming deals, or offer discounts specifically for subscribers as well.
Coupon apps are also a great option for people who have a tight budget and want to save when shipping online or offline. Apps like Karma and Honey will instantly search for and apply discount codes when shopping online and will allow you to save without having to copy and save anything. They also take the frustration out of having to test invalid codes over and over again.
Better Accounting and Budgeting
Anyone can do their own taxes now thanks to technology. You have programs that will automatically apply deductions and allow you to fill out your declaration with a few clicks of a button. Small business owners can also manage their books on their own more efficiently if they don’t have the need or desire to hire an accountant or bookkeeper.
As you can see, technology is your friend if you’re living on a tight budget and are trying to find ways to reduce your living expenses. So, don’t write it off and take the time to learn of all the ways that it can help.