These days, it’s easier than ever before to manage your finances wherever you are thanks to technological advancements. Our spending and banking have been heavily influenced by changes in technology. Here, we’ll look at just some of ways it’s impacted our day to day money management.
24/7 online shopping
One of the main way’s technology has changed the way in which we spend, is by introducing 24/7 online shopping. Now, you can log online, browse thousands of goods and make a purchase right from your smartphone. Payments can be made either via online payment methods such as PayPal, or via your debit or credit card.
This also means you can buy the things you need wherever you are. Whether you’re travelling abroad, or you’re lying in bed – you can buy whatever you need, and have it delivered to your door, sometimes as early as the same day!
Bank accounts can be opened online
At one time, you had to physically go into a bank to open up an account. However, these days you can easily open an account online. You don’t even need to go with a traditional bank either. These days, you can open an account with a credit union, as well as independent companies.
So, you have a lot more choice over who you go with and it’s quicker to open a bank account thanks to online applications.
Money management apps
Technology has also made it super-easy to manage your finances too. There are many different money management apps you can download and use. Some are even free to use and they can make managing your finances so much simpler.
Whether you’re looking for help with budgeting or you’re looking for an app which can show all of your account sin one place, there’s an app to help you with it. You’ll also find your main bank also has a mobile banking app which enables you to fully manage your account directly through your smartphone.
It’s easier than ever before to borrow
Another way technology has helped with money management, is through online lending. You can easily get the credit you need, simply by filling out a simple online application. Most give you a decision within a couple of minutes and the money could be transferred into your account the very same day.
Aiding you to get the best deals
Whether you’re searching for a new credit card, or you’re looking to borrow credit, the internet has made it easy to ensure you get the best deals. You can use comparison websites or do a simple Google search to compare the financial offers available. Being able to compare different APRs on loans for example, helps you to choose the lowest rate loan to fit your circumstances.
Overall, technology has helped us to manage our money faster and easier than ever before. The above are just some of the ways it has transformed our money management and the way in which we bank.