With technology continuously evolving and being adopted in all sorts of different industries around the globe, it has become easier than ever before for the average person to allocate their savings/capital by using the internet. All of the best and most successful investment moguls use technology to their advantage, helping with efficiency where possible, and you should too!
Eager to improve your finances, but unsure of where to start? By using different information, tools and software made available to you online, you can quite quickly get your finances/investment profile off the ground. Here are some pointers on things to look out for.
Handy Online Guides
While it’s true that there’s a lot of low-value content on the internet, and gossip spread by anonymous trolls that don’t necessarily have a lot of authority to speak on viable investment options. There is also a wealth of knowledge put out there every day by clued-up professionals, and expert leaders that can give you valuable insight on how to be successful.
RWinvest is an excellent example of a company that provides a plethora of informative guides and lists, helping you to get started in property investment correctly. Their website offers free, in-depth guides to the property market for those that are just getting started and don’t know much about the ins and outs of the process. Plus, they also offer separate articles and supporting downloadable reports on each potential investment area, depending on what you’re interested in and looking into.
These sorts of websites that offer guidance and advice are perfect for the beginner who’s looking to become more well-informed before jumping into an investment decision.
Stock Trading and Investment Apps
Spend a lot of time on the go, perhaps while travelling or commuting to work each day on the bus or train? You’ll already know that the device in your pocket can be used as a tool for a multitude of different tasks, not just for making calls, and so why not fill these voids and use your phone to make travel time productive, rather than wasting it on social media?
If you’re still new to investing, then you might want to start with a simple trading app, such as Plum or Wombat (according to Money to the Masses). These sorts of apps allow you to invest small amounts of money to get to grips with investment while teaching you and giving you all the analytics, you might need to feel more comfortable. You can then either use this as a jump-off point to get into something greater or keep it as a side project.
Remember: If you’re considering investing in the stock market, you should bear in mind its potential volatility and the risks that come associated with that. Looking at projections and keeping your eye on what others in your field are doing can be a good indication of success, although you should always keep in mind your personal goals and commitments, and not put them in jeopardy.
In their list of the best articles to think about when using your mobile for investment and finances, The Big Investment blog also states the fundamental importance of making sure you’re using your phone’s respective online banking app, as it will almost certainly put you in more control of your finances.
It’s much easier to transfer money and view incoming/outgoing payments this way, so you’ll be able to make sure you’re on top of what’s going in and out and manage investments and direct debit payments more efficiently.
In addition, contactless payments on your phone are more secure than using your card, as they use your mobile fingerprint/facial recognition scans for security. Plus, your payments are all logged as notifications on your phone, giving you quick access when needed. It’s a small tip, but one that’s worth taking note of if you haven’t already done so!
Leveraging Social Media
Social media usage isn’t the end of the world, and most of us use it. Despite the negative time-sink associations, there are some ways to use it productively. If you want to leverage social media and use it to your advantage to learn more about a field you’re interested in, you might decide to use platforms such as LinkedIn for professional, productive communication.
With this app, for example, you can reach out and connect with like-minded professionals that are already working or are successful in an investment field you’re looking into, and ask them questions directly, or follow their posts to see the trends they’re talking about, writing about, and sharing.
Other Technology-Focused Tools
Online guides and software have helped massively by assisting investors in making decisions on their strategies. Still, more general technology has also helped in making the investment process smoother and more efficient. This isn’t just in the sense of computers and tech developing and allowing the process of information to make investment predictions and market fluctuations even more detailed and accurate. To finish, here are some of the following tools that can and have been used to simplify investment.
Virtual Reality (VR) – In the property market specifically, virtual reality technology has begun to transcend its niche origins within video games. It is now used as a way for investment companies, developers and investors themselves to see what their in-progress build will look like upon completion. Obviously, CGI images and blueprints are quickly developing as computer graphics generally get better. However, for the unsure buyer that wants to get the look and feel of their new build before they get ‘invested’, this is the perfect ‘next-best’ thing.
This virtual reality usage is also perfect for international investors, or those that perhaps are quite far away from their potential purchase. By downloading the files using the internet and viewing them in a fashion similar to how ‘Google Earth’ works, they can see the property from afar in an immersive way to get a better idea before committing to something they aren’t entirely familiar with.
Drone technology – As off-plan property developments become increasingly prevalent in the investment world, more and more buyers look to secure themselves these assets to future-proof their portfolios. Drone tech is growing in popularity as an excellent and efficient way of showcasing the construction process from angles and aspects that weren’t previously possible.
Working in tandem with VR after it has showcased the property to the investor, drones are used to capture regular updates on new builds, again giving buyers the lowdown on what’s going on without requiring them to schedule site visits. Of course, these sorts of things can still be organised, but with the ability to check up on their development when required, investors are once again given more power and freedom of choice over their strategy.
Fintech – Fintech, in general, is a hot commodity concerning investment, and there are a ton of different tech startups out there that provide business-to-business services. This is only set to increase and improve in the new decade! Overall, general software solutions and incremental improvements will make investment more accessible than ever within the next ten years. Healthy markets in a range of different asset types mean there has never been a better time to be an investor if you’ve got capital.