It may be the holiday season, but personal finance is something Americans need to take seriously throughout the year. Keeping everything in check can be challenging, but you can improve your chance of success by using financial technology, or "fintech", including gadgets and software that make managing your finances easier.
The first aspect of personal finance that many people miss is the opportunity of investments. End-of-year bonuses, one-off financial wins and ongoing savings can all be invested to benefit from stocks and shares. The current slump in the market means that many businesses have affordable stock prices. It also means that savvy investors can take advantage of low prices from blue chip companies by opening investment accounts.
It is wise to remember, though, that markets fluctuate and investments can sink in value. Don't invest reactively and use political events or new laws to chase sudden drops or gains in asset prices. Instead, make longer-term plans and find firms whose share prices are likely to rise over time.
Another important aspect of modern personal finance is to use smartphone applications and software to make money management easier. There are many financial apps for both Android and iOS that make moving, saving and spending money easier than ever. You can log digital receipts, create budgets, and buy and trade stocks in real-time. Making use of these tools can help you save and earn extra income over time.