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Ways Technology Can Improve Your Finances

20.08.2023 03:18 AM
Ways Technology Can Improve Your Finances
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Ways Technology Can Improve Your Finances

Youssef Hashem, a young man in his 30s, entered the world of e-marketing in late 2019, after he felt that his primary job in a car company did not help him secure his financial future even that his income did not enable him to provide his basic needs over the course of a year.

Youssef says, when speaking with "Economy Sky News Arabia," that he thought of exploiting the Internet by learning the skill of e-marketing, which has become an important pillar in the future of marketing, so he started by watching educational videos as an alternative to paid training courses, in addition to reading some books related to the field. Free online.

Youssef decided to learn and develop his skills in parallel with his primary work at the beginning, and the period related to the Corona pandemic in the year 2020, the precautionary measures, and the decision to work from home was an opportunity in order to complete his educational career, in addition to searching for a suitable job opportunity in the field of e-marketing, through One of the applications that provides opportunities for remote work, aiming to practice what he learned and trained in it in a practical way, according to him.

Apps and tools

Youssef's experience is one of many different experiences whose owners built their professional lives based on what they learned from the Internet, by employing and using technology to improve their financial situation, and using it effectively helps the individual achieve his financial goals.

In turn, the technological development specialist, Hisham Al-Natour, indicated in exclusive statements to the “Sky News Arabia Economy” website, that the economic and geopolitical crises that the world has been exposed to in recent years, in addition to the Corona pandemic, led the world to work remotely, which is This proved that technology is capable of making a difference and saving a lot of costs, in addition to helping to save.

Additional aspects

The aforementioned experience of the Egyptian youth is one of the many aspects of exploiting technology. There are many other aspects that help improve the financial situation by using technology, including:

Expense tracking and budget management: Through popular online applications that allow a person to monitor their income and expenses in real time, and enable them to create expense categories and receive alerts when they exceed their budgets.

Saving and investment applications: The forms of these applications vary, including those that automatically allow small amounts to be invested, and others that allow easy investment in stocks.

Learning and skills development: such as online education platforms, which allow learning new skills or developing existing skills, which may increase the chances of increasing income.

Freelance work via the Internet: A person can work as a freelancer via the Internet in areas such as design, writing, montage, digital marketing, and others, and thus opens doors for additional income.

Debt management applications: If a person has debts, he can use applications to manage debts and pay them off effectively.

Freelancing and job search platforms: Various sites enable a person to find freelancing projects and earn additional income.

Artificial intelligence

Al-Natour adds to those aspects through which modern technology can be employed to improve the financial situation of people, which is linked to the tremendous progress in artificial intelligence applications, explaining that "many young people have recently taken advantage of social networking sites and technology to go through the experience of improving the financial and savings situation, until the opportunity has become greater." With the presence of artificial intelligence, along with more applications in this regard.

He explained that there are two types of applications that help improve the financial situation; The first type is related to the applications used to rationalize individuals’ budgets and monthly income, and to achieve financial sufficiency throughout the month, through which the individual can distribute his monthly income from the beginning of the month to the end of it, and it works to divide the monthly income in certain proportions that oblige the person to, Among them is the Money Manager application, which allows a person to plan financially, review and track expenses, and manage personal assets.

Also among them are applications such as the Budget Expenses Tracker (an application that helps users control their personal expenses and ways of spending them to help them save), Expenses Manager and Spending Tracker that helps to determine a personal budget, and also avoids any surprises that a person may encounter with his budget at the end of the month, and the My application Money, and other applications.

As for the second type of applications, it is related to those who have a monthly income, but it does not achieve sufficiency for them, and they are in constant need of additional income, or those who do not have a monthly income from the original, and are looking for job opportunities, and among those applications is Robinhood, which provides an opportunity to manage money and invest through Stock trading, ETFs, and Freelancer, which offers freelancing opportunities for people with different skills, for example illustrators, web designers, programmers, SEO experts, marketers, translators, and writers.

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