Personal Finance and New Technologies

The world of finance is significantly different than it was 15 or even just ten years ago. A lot has changed with the development of the Internet and technology in general, and the way we deal with our personal finances has gone through a profound change.

The number of options people have today is simply staggering, and the transactions can be executed in a blink of an eye, even from your smartphone if you so desire.

But these are just some of the choices available to you, so make sure you go through this whole article and check if you’ve missed out on something that is a must when it comes to personal finance in the modern world.

Online payment systems

There are so many online payment systems these days that transcend borders and make it easy for people to send money from one end of the world to the other in a matter of seconds.

Alongside interest free credit cards, there are so many online payment systems these days that transcend borders and make it easy for people to send money from one end of the world to the other in a matter of seconds.

PayPal has become pretty much a household name, and systems like Revolut and Transferwise allow you not just to send or receive money, but you can also use pretty much any ATM with them, too.

And you can keep an eye on everything via a simple app on your smartphone. Neat, huh?

Online banking

Obviously, major banks have caught wind of this too and now offer you their own apps through which you can check your account balance, get a loan, open a savings account, and generally do absolutely everything you used to do with a bank teller.

But the best part is that you can also pay bills this way – you just scan the barcode and in a couple of taps, your bill is paid. This saves an incredible amount of time, and the fees are often lower.

Online investing

Investing has also never been easier. You can simply open an account with a broker and start trading in a few clicks. And with the expansion of the Internet, so many new ways of trading have become available.

Virtual coins like Bitcoin, however, are a whole other category of online investing because these things have made some people immensely rich literally overnight. Their prices do fluctuate a lot, but they nevertheless still represent an irresistible opportunity for so many.

Or you can simply mine them with your computer.

No matter what you’re investing in, though, good legal advice is always smart to seek out, and Optimal Solicitors in Manchester are just the firm to ask.

Starting an online business

Thanks to all of the above, it has become much easier to become an entrepreneur and start your own business. Blogs, YouTube channels, affiliate marketing, specialized shops… millions of people all over the world are making a (very good) living creating some sort of content or simply selling products and/or services.

Also, funding platforms such as Kickstarter have made it possible for some truly amazing projects to happen, projects that otherwise couldn’t be financed. Things like these have helped form whole communities of people who join forces to achieve a common goal, and many of these communities will go out of their way to support small businesses as much as possible.