If you, like countless others around the world at the moment, are feeling the financial squeeze as a result of the current recession, then now has never been a better time to recalibrate your finances. While earning more money is always easier said than done, it is possible to make your money smarter and reassess how you approach saving, earning, and spending, all thanks to modern technology. We’ve assembled the most essential online resources that you should be using to improve your financial standing in 2020. Read this guide to find out more.
Personal Finance Trackers
Understanding your personal finances is the first and most important step towards a healthy bank balance. You should use personal finance trackers to keep tabs on how much you’re spending, what you’re spending it on, and why you’re spending the way that you do. There are countless free tools to get you started, with Mint, Wally, and Quickbooks all being examples of award-winning finance apps. If you’re an investor, an investment tracking tool such as Personal Capital is also essential.
Financial Market Educational Tools
In times of economic turmoil, understanding how the market actually operates is crucial. You might want to consider taking up stock or forex trading as a side hustle, or you might just want to better understand the market forces that affect your bank balance, so that you are better prepared in the future. The website of Wall Street institutions such as Bloomberg are a good place to start, as they offer countless resources for budding market hawks. Meanwhile, podcasts such as Freakonomics Radio will allow you to listen to the exact same content as the most successful financial wizards in the world.
Automated Trading Software
If you’re new to trading, it might be safer for you to invest in some automated trading software for you that can help you make sense of the market and develop a sense of what constitutes good practice. One widely-used example is automated forex trading robots, which use algorithms to monitor the entire currency marketplace and execute trades based on the data it receives. Automated software such as this will help you to better understand the logic behind financial trading so that you can feel more confident when you’re doing trading of your own.
Side Hustle Marketplaces
If you have a skill that you want to put to good use, then it’s time to turn it into a side hustle. Rather than going through the time and expense of reaching out to individual companies, you can now use online marketplaces to advertise your skills for free to paying clients all over the world. The most popular sites are the likes of Upwork and Fiverr, which allow you to create your own profile and set your own rates for side hustles such as writing, coding, translation, web design and consultancy, among many others. Such tools are used by millions of paying customers, meaning that they could prove invaluable in your quest for financial solvency.
With these easy-to-use online tools, you will be able to get back on track in 2020.