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Thinking about retiring early? Here are 4 crucial tips you need to know.
How to Use Technology to Manage Your Money: 4 Crucial Tips You Need to Know

Thinking about retiring early? It should, after all, be part of your plan after having started your new chapter in life. Slaving hasn't helped your bank grow, it hasn't helped your health, and you are just exhausted. All those fake news guru guides also weren't even worth a read. Then, how do you effectively manage your money? Better yet, how do you use technology to manage your money? Technology plays a vital role in personal finance, but it's not what you think. We won't be discussing investment scams here. Here are 4 crucial tips you absolutely need to know:

Tip 1: Don't automate payments. Automate income.

This may come as a surprise to many, because the general advice out there is to automate your payments. Of course, it can be convenient. But it's not practical. You need to know exactly how much you spend, all the time. Once you treat money like in-game currency, that's when you're set to lose.

You should really "automate" your income. This sounds kind of like I am telling you that money can grow on trees (sadly, not yet). However, what I mean by automating your income is by planting the proverbial seeds wherever possible. Cast out your net to all sound possibilities. You should be surprised about how much your potential investments eventually pay out, instead of being surprised about how much you're spending.

The tricky part is actually the part where you're supposed to decide how much to invest in each facet. It goes like this: Maximum in "safe" portfolios, such as fixed savings, and minimum in slightly risky investments.

Open multiple savings accounts. Invest small amounts in a few start-ups and even some well-established indices. Run an Airbnb. Avoid investing in crypto, but don't avoid being paid in crypto and leaving it there. First, you will need to actually earn an income the hard way. Investing is not always done by investing money, but through investing time and effort by reaching out to others. So build your network, wait for a bite, and capitalize.

After earning your first amount (for the newbies), don't stop there. Continue to build your network. Talk to people, meet them and offer to pay for their drinks, and keep repeating until you get another bite. After some time, you will have multiple opportunities. Multiple work-related projects and sources of income. From there you will only need to select the best accounts, portfolios, and potential long-term investments that will suit your needs.

Again, use technology to help you manage your money.

Tip 2: LinkedIn, Upwork, and your personal website

You are a product/service. You are also your own boss and your own business. That means you will have to "sell yourself", so to speak. It's all about your brand, your personal Search Engine Optimization (SEO), and who you know. Start by working on some open-source or "free" projects related to your talents/skills.

The aim is to quickly build a portfolio from which you can start a website, use to provide online services on websites such as Upwork or Fiverr, and ultimately take to the big leagues - LinkedIn. However, you will need to build your personal brand SEO. Once people know you from doing a Google search on your name, finding you through your online profiles on freelance or remote work websites, and connecting with you on LinkedIn - since you are the industry professional - you will notice that opportunities that were never there are suddenly made available to you.

But, a big one here, you can't stop. You will need to keep working on promoting your brand. Showcase your skills on LinkedIn and talk to all the other industry professionals you can find. Meet them if possible. Eventually, someone will knock on the door of opportunity.
How is this relevant in personal finance? How am I using technology to manage my money? With social networking sites and remote work platforms, you are able to grow your personal finances. Hard work is really the only way to build the foundation for that early retirement.

Tip 3: PayPal

PayPal is extremely useful as an intermediary when you expect to receive money remotely. Whether you have some investments that paid out from offshore investments, or whether you provide remote services or run an e-commerce business, it would be better to receive the money through PayPal.

It is also wise to consider PayPal for tax reasons. Not to avoid tax, but to legally receive income without paying tax when residing abroad and actually using that income to survive. Especially when you're just starting out. Naturally, this depends on your nationality and tax laws. But, generally, PayPal is extremely convenient.

You may also use PayPal to avoid bank costs, lengthy transfer times, and to actually make online purchases. The downside, however, is that you will not be earning any interest. This brings us to the next tip.

Tip 4: Set up foreign bank accounts and manage them online, remotely

Most countries offer very trashy interest rates for your savings. Banks are evil like that. However, some countries, like Georgia, Armenia, and South Africa, offer attractive interest percentages at low-medium risk. You would have to check the exchange rates and local laws, but the rates in these countries are much better than that silly, pointless, futile 1%.

Visit another country, get in some decent traveling at low cost after you started your new chapter, and open a good savings account. Get a decent fixed-term savings as well - although I wouldn't recommend anything over 12 months due to foreign policies and external factors - and enjoy the income.

You would also need a personal banker for the OTP verification. This is rather convenient, and cheap, since there is always someone to help you manage your finances when you need them. In addition to this, you should have your internet banking apps (obviously). Then, after having opened your accounts and returning to your usual place of residence, you will be able to sit back, relax, and use these apps to monitor your exceptionally fair interest that you will earn monthly - if you choose to let the accounts pay out on a monthly basis.


Well, there you have it. Your 4 tips in using technology to manage your money effectively. Remember to always do your research before investing, even when you're going for the "safe" route of placing your money in a fixed-term savings in a foreign country. But the chances are that, with the technology that is currently available to us, you will be able to see exponential growth in your personal finance portfolios. At least it's better than losing your money or just letting it die in bank accounts with unattractive interest rates, right?

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