Money is important and essential for living. Unfortunately, not everyone is like Bill Gates, and has billions of dollars to spend. This is why it is important to budget, and manage your money efficiently.
Moneyfarm’s infographic on the wealthiest people in history shows the many different ways that people of inspiration like Bill Gates, and Oprah have built their wealth and success.
See what you can learn from some of the wealthiest people in history from past to present and in what ways they spent and managed their earnings.
If you’re interested in learning more about how you can manage your money like the icons in Moneyfarm’s infographic and in what ways you take advantage of technology in relation to your money, simply continue reading to discover 4 tips on how to harness the power of technology in order to positively affect your savings!
Using technology to transform the way you manage money:
- You can set up automatic payments within minutes, with little hassle
As an example, if you want to ensure that you save a reasonable portion of your income, you can set up your primary bank account to transfer a set amount of money to your long-term savings account. Which will make it far easier for you to save a portion of your income, which you can then choose to invest if you’re not happy with the interest rate which your bank currently offers you.
- You can use an app on your phone in order to quickly and effortlessly transfer money to your friends and family members
As an example, if you go out for dinner with friends and the restaurant asks your group to pay your bill as a single bill, you’ll easily be able to transfer your portion of the cost to your friend’s chosen bank account using your chosen bank’s app on your smartphone. Which means that you’ll never have to walk to an ATM in order to get out cash, in order to pay a friend back for money which they’ve spent on you, ever again.
- You can use Paypal in order to pay for any goods and services which your purchase online
If you ever feel comfortable giving out your bank details or your credit card details to online companies, it’s well worth signing up for a free Paypal account. As a large portion of online stores now offer Paypal as a payment option. You can even use Paypal to pay for any eBay auctions which you win.
Better yet, if a company doesn’t send you the item which you purchased or there is some kind of dispute with a purchase you’ve made through Paypal, you can contact Paypal’s friendly customer service team you’ll be able to reverse the charges which have been made. Which means that you should always select Paypal as your preferred payment option, in order to decrease your chances of being scammed online.
- You can keep up to date with your expenses on a daily basis
While in past decades you may have had to wait for a printed bank statement to be sent to your home address in order to see all of the transactions which you’ve been made, in today’s day and age you can log into your internet banking account as often as you’d like. Which will give you the chance to cut back on your spending, if you find that you’ve already exceeded your weekly budget. Which will help you keep on track of your monthly expenditure.
In conclusion, it’s well worth using all of the four tips listed above in order to harness the power of technology in order to help you manage your money better today!