How Tech Changes the Way We do Personal Finances

Up until relatively recently, only the most meticulous and focused people truly had a hang of their finances. Sure, most of us know how much we earn and where our money is going, but for the majority, personal finances was something that others did. Thanks to the innumerable technological advances over the last couple of decades, this has changed. People nowadays have more control over their personal finances than ever before and technology is to thank for this.


Before the internet, you really had to work hard to get your personal finances knowledge. You had to find courses on managing your finances or purchase books on how to best do it. Today, things are much different. Do a simple Google search and you will find thousands of websites that provide free advice on personal finances. Of course, some of it is very poorly written, but there are also some truly amazing websites out there, packed with all kinds of personal finance knowledge. Even company blogs can be a great source of information. You can also attend online classes on personal finances which is definitely more convenient.

Online Services

Taking care of certain personal finance tasks used to be incredibly boring and time-consuming in the past. If you wanted to take out a loan, you had to go from bank to bank and talk to one loan officer after another, comparing the terms and conditions and doing your best not to make the wrong choice. Nowadays, you can even get low rate personal loans online. This goes for pretty much every financial service that once had to be done in person. Today, not only can you research everything online, but you can do most of it without leaving your house.

This may not seem like such a big thig to someone who lives in a big city, but for people who live in smaller towns or in the countryside, being able to handle much of their financial stuff online is a huge thing. If for nothing else, then because they finally get to choose who to do business with.

Personal Finance Apps

Some of the world’s most popular apps have to do with personal finances and money management.

For instance, you can now use an app that will track all of your expenses over the course of a month or a year and give you great insight into where you are spending too much money and how you can make savings.  There are also apps that you can get that will help you control your spending and find the best deals on whatever you are purchasing. There are also travel finance apps which will help you with your travel expenses and finding the best bargains.

There is a whole industry of apps that are aimed at people who like to invest some of their money. Some of these apps are used directly to trade on financial markets, while some of them are more analytical and advice-oriented.

Making some Money on the Side

One other thing that the modern technologies have enabled is making a quick buck here and there, usually online. With so many global service marketplaces and the abundance of freelance work, we can now bolster our personal finances from our own homes, getting some work done for people half the world away. Money transfer services and apps have made this possible for everyone, opening up a whole new world of gigs to people.

You may not think that this falls under personal finance, but you will agree that it is much easier to do personal finance well when you have something to work with.

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