My background
Before writing this blog I sat down and thought long and hard about whether or not technology actually plays an important role when managing money? I considered the question and the on- going discussion from a number of different angles but on the whole I guess my opinion was always going to be slightly biased. I spent the first 11 years of my working career in a financial institution so I can hand on my heart see how technology has impacted people and changed how they manage their money. I remember when online banking didn’t exist let alone mobile banking and I guess if I reflect on my role in the bank as well as personally I can honestly say managing money today couldn’t be easier.
Change is good, isn't it?
I am sure we can all remember the time when we used to rely on our monthly statement to land on our door mat. Opening it with slight anticipation and not that we would want to admit it we would also open it with a little bit of fear. Were you one of those who would check each line religiously to see what had what had gone out? Yes, me too. When I think about it unless I had made a special trip to the bank I never really knew how much money I had. Today we don’t need that statement as we can simply enter a 6 digit passcode into an easy to use mobile banking app and bingo- you have your up to date balance and can view your last 50 plus transactions.
Technology changes the way we do things
Technology means that you no longer have to go into a bank or find a hole in the wall to check your balance, transfer funds, send money to a third party because now you can do this all from the comfort of your own home, from your desk at work or sat on the beach. Technology on the whole saves you both time and money. You don’t have to get in the car, or on the bus, find a car parking space, wait for the post or go into a bank to know how much money you have.
What can technology really do for you?
But what can technology really do for you and your money and does it really make a difference? Well yes it does. More people today own a mobile phone than a tooth brush. Gross I know but on that basis managing your money seems far easier than maintaining your dental hygiene if we work on the facts. Okay I know that is a little far-fetched but let’s looks at what you can do with just your smart phone alone and what this means for you and your money.??
- You can download apps such as ‘mysupermarket’ which lets you compare supermarket prices, build and manage shopping lists at home on the go or in store and it tells you about the latest offers.?
- Another app is ‘spendee’- which helps you track spending- almost like your own personal accountant right in the palm of your hand and it’s free.
- You can book a hotel using comparison sites which search the whole web and gives you the best offers.? hotels.com
- You can get in shape without paying for a gym membership with the 7 minute workout app. 7MWC
- You can even use you tube to get superb advice on how to save money martinlewis-youtube
Getting the best deals
I am not going to say that managing money and getting the best offers requires no effort and that technology does it all for you because that would be factually incorrect. But if you want the best deals all you need to do is search for them and if you want to make sure you are on top of your finances then you just have to keep an eye on them. Digital technology has made our lives much easier, it provides you with the platforms to take control of not only your money but a number of other things as well. If your one of those that’s not quite on board with it all, you need to get on board and soon, because it’s moving fast and if you don’t get on it now then you’re losing out and you may lose out forever.