Although we haven’t developed hover boards, time travel devices or robotic companions just yet. We have made some ground breaking advances in the world of technology.
So we thought it would be a good idea to explore how the technology is shaping our finances.
1. Watches for banking
We’ve already established that Tech giant Apple is set to launch a smart-watch in March. This wearable computer will join a growing number of smart watches already available – as offered by Samsung, LG and Motorola.
The watches can be synced to the owner’s smartphone, using Bluetooth technology. They can enable you to browse the web, download music, monitor health and send text messages. They can also allow us to do our personal banking.
Verdict:
Gone are the days were a wristwatch is used to just tell the time. At this rate, they could soon replace our laptops. Needless to say, they could transform our banking habits.
2. Video glasses for health insurance
Although this technology is experiencing some teething troubles, health experts believe these high-tech glasses could provide an invaluable way of spotting potential health problems. What’s more, if used correctly, they could also drive the cost of health insurance down.
For instance, a healthy 35-year-old man can usually expect to pay around £850 a year for private health insurance. However, with these video glass technology, this could be lowered by 20 per cent – as early health prognosis would drastically cut the cost of future treatments.
Verdict:
This technology has the potential to save lives, so it’s not just a great high-tech gimmick. For now tough, it will need tweaking.
3. Phone apps for debt relief
In the 1980s – we were afraid that fax machine was going to take over the world. Either that, or it was going to be a cyborg dressed up as Arnold Schwarzenegger. These days however, we are more concerned with how hand-held phone technology is playing a more prominent role in our lives.
Pocket money website, goHenry is an app-based service that helps family learn about managing money and budgeting.
Vedict:
Mobile app technology is changing the way we aim to get our finances in shape – it’s already a great option for improving budgeting.
4. Digital gloves for shopping
Developments in this technology could mean that you no longer need to go rummaging in your pocket for a card, or produce a signature when you opt to pay on card after a meal. Instead, you simply wave a gloved hand an inch over a payment pad.
Verdict:
Glovers are great for keeping hands warm, but they could be even better for effortless shopping.
The post Could Technology Help Us Shape Our Finances This Year? appeared first on Mind The Money – Finance Made Easy | Personal Finance Blog.
