Top 8 Ways Technology Can Improve Your Finances
Whether you want to become a billionaire, or save money for world travel, college education, or a retirement fund, sound financial freedom will help you fulfill that dream. But that calls for careful planning and adhering to the wise advice of a financial advisor. If you don’t have much time and budget for either of these, technology can come to your rescue. It can act as your personal financial advisor and can help you chart your route to financial freedom.
Using technology can provide a plausible solution for the modern day dilemma of saving for your future, or spending money on instant gratification, which in turn makes financial freedom a distant dream. Various online websites and apps can help you save money, earn more, spend judiciously, keep track of your spending habits, build a good credit score, and achieve your financial milestones.
Here are 8 expert tips to use technology to effortlessly manage your finances and become your own financial planner.
Assess Your Credit Score. Keep track of your credit report by checking it once a year on AnnualCreditReport.com for free. Use websites of Mint.com, CreditSesame.com and CreditKarma.com to analyze your credit score.
Compare Credit Cards and Use the Most Economical Ones. Compare credit cards through CreditCards.com, IndexCreditCards.com and Bankrate.com, and work through which ones are best for you. Analyze your amount of debt and go for one that offers low-interest rate along with reward points, insurance, warranties and any other extra perk.
Evaluate All Financial Expenditures. Analyze your bank and credit card statements through the bank’s website. Mint and YNAB are great tools to evaluate and track all financial expenditures.
Track Your Spending Pattern. ReadyForZero spreadsheet is useful software to track your spending pattern. There are several other apps you can pay to keep a track on your spending.
Get Motivated to Make Better Financial Choices. Apps such as Save Up and Toshl help you build good financial spending habits by rewarding you for smart financial decisions.
Find Support by Like-Minded People on Online Communities. Join the online community of ReadyForZero to find support by similar peer groups who will help you build a sound financial plan.
Make Extra Money Online. The Internet provides many options to earn a little extra. You can earn more money in your spare time through freelancing, building a website, or opening a side business.
Use Coupons and Discounts for Shopping. There are various websites that offer fantastic online deals. You can also use coupons from popular coupon sites to reduce your shopping expenses. Use mobile apps to access discounts and deals from around the web on your fingertips. However, you must practice caution while online shopping by reading online reviews of the products and services before checking out.
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