REMOVING EMOTION OUT OF THE EQUATION

In modern day times, there is 24/7 working bots with complex algorithms being fed gigabytes of data that use market simulations, predictive technology that analyzes market conditions down to the millisecond.There’s also robo-advisors that suggest and trade automatically for the investor once being fed the investor’s risk tolerance and financial situation. These also will offer a catered portfolio to the investor and will adjust according to market conditions to preserve the instructions of the investor, Commonly offered by banks and brokers, these are meant to automate investing making it somehow passive.

Also, a new way that’s revolutionizing the way personal finance it is done is is using AI. These days everything has AI built in. It enhances productivity and can give you accurate enough information crucial for increasing one’s gains. Large language models like bloombergGPT or finGPT can help you to get financial insights to the stock market in a ChatGpt fashion.

The problem of consuming information with no time can be solved by using summarization services apps, or content classifiers. I use a couple myself to stay on top of every financial information that my needs require. There is way too much information to stay on top of, so there is also the need to categorize and classify everything relevant to you.

Financial budgeting apps are good to have in your phone because you have the immediate capability of updating your expenditure right away. Since you also have everything in your phone, you have more chances to keep looking at it. There’s many and are very good. You should choose the one that fits you best. Essentially, in these, is where you will find all the categories needed and may also recommend you certain methodologies for better use of your money.

When it comes to keeping a track record to analyze your personal finances, there’s nothing better than a good old spread sheet. In these you can also do all sorts of calculations and you can also have them in your phone to check whenever you want. There’s many apps that allow you to create and modify numbers on them in a breeze as well. These have been around for the longest time and are not difficult to use.

There’s many more types of fintech products and services that I haven’t covered. For example bitcoin and bitcoin mining that I will cover in a different article. A quick search online can provide with a good number of them for you. Fintech it is all tech related with finances. If you mix finances and tech, it is likely to solve your financial problems; that is what fintech is meant for.

I will use the following section to recommend a couple of products and services that either I have used, I am currently using or I soon will be using.

NOTION with the Ultimate Finance tracker

This is a notion template simple and easy to understand that I use everyday. Notion has become a defacto software to takes notes with, and many, use it as a main tool to tracker finances like me. I’m always writing on notion and to have my finances close on one of my favorite softwares it’s quite handy. I do also turn my computer everyday so whether I like it or not I have to be looking at it.

FinGPT

I’m desperately waiting for this LLM (Large language model) similar to bloombergGPT but free and open source. At this moment, they have a demo around and it looks promising. Being able to chat with my financial data and the data of the stock market and financial news can put everybody in a better financial position speeding up the research time, helping to conceptualize financial problems better and analyze financial data as never before.

YOUTUBE AND MAIN STREAM MEDIA

I am subscribed to all the major finance/ personal finance youtube channels and I’m having a hard time to keep up with everything and everybody. Mainstream media is also in youtube as it turns out. I see it as a hub for keep oneself informed. CNBC and BBC are very good main stream media sources. For when it comes more youtube style on personal finance I like Rose Han and Edward.phd though there are many more and all very good I keep on watching these two almost everyday.

COGNOSYIS AI

I use this service as one of my research tools. It’s capabilities go beyond to just research. It has capabilities of automation along with your usual chaGPT chat bot style. You can ask financial related quarries and it will come up with very good information. On top of it, it can send you a personalized news letter with what you ask to it, having in your email every day. T his has the advantage that you may not skip your financial duties, as you may also have to be checking your email from time to time or everyday. Very handy to also keep up with the non ending stream of news and the latest financial information.

THE BOTTOM LINE

The future seems automated, and with it your personal finance as well. It maybe overwhelming now having to learn this new technologies but the sooner you start, earlier you can more efficiently manage your finances. You may learn very handy things in your personal endeavor. The majority of these things also compounds as these tools also increase your productivity. Financial literacy it is as important as

2 or 3 percent more in your R.O.I. So I recommend using them all and more so you can get ahead of the pack.