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How Fintech Can Help You Better Manage Your Finances

December 8, 2017
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4 minutes read
How Fintech Can Help You Better Manage Your Finances

Otherwise colloquially known as FinTech, financial technology is continuing to play an important role within our daily lives. Not only can it allow us to better manage our finances, but leveraging the power of this field can have a very real impact upon future liquidity and the ability to tap into much-needed funds on demand. Let us briefly examine some of the ways in which FinTech can help you oversee your personal finances with both insight and clarity.

The Diminutive (and Powerful) Smartphone Application

Many consumers associate smartphone apps with games and social media communications. However, the fact of the matter is that a growing number of these handy programs are now designed with your financial needs in mind. As of 2016, a study illustrated that more than 52 per cent of all smartphone owners accessed their bank accounts via the use of a dedicated application. These apps boast superior levels of security and it is now possible to monitor any important transactions on the fly; critical if you hope to monitor your finances within a real-time scenario.

Online Investing Platforms

Many consumers are now looking to adopt a more proactive stance in regards to their personal financial management techniques. This is often accomplished through the use of dedicated online investment platforms. No longer will you need a broker or be subject to the fees of the “middleman” in order to enjoy a handsome profit. Clients can access countless underlying assets and thanks to mobile-friendly websites, profits can be accrued even while out and about. Of course, both experience and prudence are just as necessary in order to enjoy success.

Personalised Budgeting Software

Although budgeting programs are certainly found within the realm of mobile phone applications, there are a number of other packages solely designed to be used in conjunction with laptops and office-based computers. The main benefit associated with financially oriented budget planners is that they are able to provide you with a greater level of centralised oversight than would be possible with traditional methods. Some of the metrics that they can address include:

  • Savings accounts
  • ISA statements
  • Credit card information

In addition, these frameworks are generally presented in a user-friendly fashion; no previous experience will be required in order to “learn the ropes”.

Virtual Wealth Management Services

Many of us simply do not possess the time to oversee our personal finances. This is where the power of services such as those provided by Moneyfarm come into play. You can enjoy access to general investment opportunities, efficient pension plans and a host of different stocks and shares ISAs (depending upon your fiscal desires).

There is no reason not to leverage the power offered by the modern world of FinTech. You will be able to get a better grip on your finances and over time, this can equate to success. The digital age is here to stay, so why not take advantage of such streamlined services?