Staying on top of the banking and financial industries is difficult, especially with the increase in fintech—or financial technology. Fintech is leading the traditional banking industry in a safer, more technological direction that is shifting how people invest, save, and navigate their wealth plan. Being smart about money is crucial to maximizing your wealth and keeping stress low as you live life. Here are three ways to help you navigate your finances in this digital age.
Look into setting up comprehensive wealth management
When thinking of the financial industry, it is mostly made up of products and services that can often be complicated for most individuals (not in the field) to understand. This is why, sometimes, the best thing you can do is turn to the experts. They can watch your money closely and take opportunities that you might have missed out on. This doesn’t mean those handling your money are going to take drastic leaps, but their goals are to meet your goals.
Comprehensive wealth management is great for managing finances surrounding any area of your life. You can work towards retirement, college, or building a family without little thought of the small details that come with planning wealth. Take the time to find a reasonable firm or individual to conduct comprehensive wealth management when you are looking for your next step towards your financial goals.
Invest using the newest, personalized apps
Apps that help you invest are a small strategic way to you to invest. Apps like Acorn allow you to round up the money that the app invests for you. This doesn’t add up to a significant amount, but over time that could change. You can also change how much money you want to put into your account. It is incredibly user-friendly and simplified. Apps like these are great fintech tools that can help users get their start in investing and learning about money.
Another app rated as one of the best for learning about investing is called Stash. It even includes educational content and quizzes. Apps like these are the reason that tech and finance go hand-in-hand. We need more education in this field and user-friendly data. There is even an application for retirement called Vault. This app is great for self-employed freelancers and contractors because it allows you to set up a Roth IRA.
Set up an online banking account, particularly a high interest one
Online banking is a great option for those looking to get the most out of their money in the easiest way possible. There are a few banks that have high interest savings accounts that are unbeatable. Head to Ally or another one of the leading online savings banks to find a savings solution that is right for you.
The online banking option also makes the banking process entirely simpler. You can deposit money online and not have to worry about the hassle of heading to the bank and going through the time consuming steps like waiting in line. Online banks allow for all of the focus of the company to be online, as well. This means better functioning web pages, security, and navigation. They built their bank online, so it is made to function online.
Money is complicated and sometimes it seems that there is always something new to worry about in the finance industry. Take advantage of this digital age where information is accessible and there are apps and individuals guiding your way in wealth management. Think about your financial goals and look to professional help and other supplemental tools.