{"id":7252,"date":"2023-06-18T10:35:17","date_gmt":"2023-06-18T05:05:17","guid":{"rendered":"https:\/\/www.upnxtblog.com\/?p=7252"},"modified":"2023-06-18T10:35:52","modified_gmt":"2023-06-18T05:05:52","slug":"the-powerful-link-between-technology-financial-wellbeing-and-good-health","status":"publish","type":"post","link":"https:\/\/www.upnxtblog.com\/index.php\/2023\/06\/18\/the-powerful-link-between-technology-financial-wellbeing-and-good-health\/","title":{"rendered":"The Powerful Link Between Technology, Financial Wellbeing, and Good Health"},"content":{"rendered":"
<\/div>

High levels of financial stress can impact people\u2019s wellbeing, with studies showing that there is a clear link between financial stress and depression. One study published in the\u00a0Journal of Family and Economic Issues<\/a><\/em>\u00a0has given verisimilitude to the fact that there is a strong link between financial worries and psychological distress among adults in the US. This distress is stronger among people who are unmarried, unemployed, and who earn lower incomes and rent rather than own a home. Fortunately, people now have many more opportunities and resources to ace their financial game. From money management apps to AI-powered analytics, there are so many ways that technology can reduce stress and\u00a0help people stay on top<\/a>\u00a0of financial matters.<\/p>\n

Top Budgeting Apps to Use Right Now<\/strong><\/h2>\n

Budgeting apps can save you time, ensure you don\u2019t miss a single expense, and help you identify expense categories you are spending too much money on. Today, there are a host of budgeting apps that\u00a0connect to your financial accounts<\/a>, track spending, and categorize expenses, so you can identify overspending and make a sound budgeting strategy based on your needs and wants. These apps automatically sync with your bank accounts and create different expense categories, so you can clearly see where your money is going. Top apps that can help you start budgeting more effectively include Mint (a great all-rounder), YNAB (for zero-based budgeting), and Goodbudget (which follows the \u201cenvelope budgeting system\u201d). These apps help you battle stress proactively, by giving you more control over how you spend your money and enabling you to feel organized, competent, and confident about your ability to live within your means and provide for yourself and\/or your family.<\/p>\n

DIY Tax Software<\/strong><\/h2>\n

Tax is another big source of stress for people across the globe. As stated by\u00a0The New York Times<\/em>\u2019 Jancee Dunn, money makes everyone nervous, and tax period in particular can make those who struggle with calculations and complex form-filling a real bugbear. To lower stress, many people rely on the aid of tax advisors. A customized plan with a tax advisor sets people back between $1,300 and $2,000, though this figure can be higher depending on where you live. If you are\u00a0filing your tax in Canada and paying<\/a>\u00a0over $873,345 over your lifetime, you will also have to add the cost of an accountant, which can range from $30 to $400 per hour\u2014quite a hefty sum. You can lower your cost significantly by relying on personal tax software. A typical package coasts less than $30 and covers simple federal tax returns.\u00a0If you are investor<\/a>, you can invest in slightly more expensive software, which will cost you less than double but help you maximize deductions and get your federal and one state return in place.<\/p>\n

Blockchain Smart Contracts<\/strong><\/h2>\n

Security of financial transactions can also be a worry. Many investors complete transactions online, and worry regarding the security of these transactions can wrest from one\u2019s peace of mind. If you are a trader, investor, lender, or borrower, then you may already have signed more than one smart contract. These contracts are stored on the blockchain<\/a>, and they boost security in a host of sectors\u2014including real estate, gaming, and healthcare.\u00a0Smart contracts are self-executing codes<\/a>\u00a0that carry out a set of instructions. For instance, if you are selling an NFT, then you can instruct the contract to pay you a commission every time the NFT is sold subsequently. For people who are accustomed to using cryptocurrencies or selling blockchain-based items, the security that can be afforded by the blockchain is second-to-none when it comes to guaranteeing peace of mind.<\/p>\n

Robo Advisors<\/strong><\/h2>\n

If you enjoy making your own investments, then having a little help from robo-advisors can go a long way. Because they are automated, these advisors offer services that can save you significant time and energy. Robo advisors charge you a percentage of what you invest. Usually, the fee stands at around 0.25% annually. As such, For instance, for every $20,000 you invest using their services, you pay around $50 per year. For EFT funds, meanwhile, you are typically charged between 0.08% and 0.15%. Robo advisors can help you by suggesting a portfolio of investments based on your time frame and risk tolerance. They can also automatically rebalance your investments to ensure your return and risk are matched throughout the year. Finally, they can\u00a0aid in tax-loss harvesting<\/a>. The latter involves selling an investment when you\u2019ve lost funds, so you can reap tax benefits and offset future gains.<\/p>\n

Digital Payments and Mobile Wallets<\/strong><\/h2>\n

The vast number of digital payment options and mobile wallets has made financial transactions more convenient, with the added value of optimal safety. Being able to use Apple Pay or Google Pay at stores enables you to get your shopping done quickly, while reducing the need to carry and keep track of cards. It also removes the need to cancel cards that have been lost or stolen, or worry about carrying expired cards. The ease of smart payments enables you to spend more time with family and friends, which in itself is a big boon for your mental health.<\/p>\n

Feeling like your financial situation is disorganized or under threat can be a major source of stress. Technology is paving a way to a far calmer, more secure state of mind. Just a few technologies that are making it easier to feel safe, secure, and organized include budgeting apps, smart contracts, robo advisors, and digital payments and mobile wallets. Together, they are freeing up the time of countless individuals, and making online interactions safer and more effective.<\/p>\n","protected":false},"excerpt":{"rendered":"

High levels of financial stress can impact people\u2019s wellbeing, with studies showing that there is a clear link between financial stress and depression. One study published in the\u00a0Journal of Family and Economic Issues\u00a0has given verisimilitude to the fact that there is a strong link between financial worries and psychological distress among adults in the US. […]<\/p>\n","protected":false},"author":2,"featured_media":7253,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3],"tags":[608,609,462],"class_list":["post-7252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-new-tools","tag-finanicial","tag-health","tag-technology"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2023\/06\/alexander-mils-lCPhGxs7pww-unsplash-2.jpg?fit=2400%2C1600&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9fbQS-1SY","jetpack-related-posts":[{"id":7778,"url":"https:\/\/www.upnxtblog.com\/index.php\/2024\/06\/22\/ai-in-fintech-how-smart-technology-improves-financial-processes\/","url_meta":{"origin":7252,"position":0},"title":"AI in FinTech: How Smart Technology Improves Financial Processes","author":"Karthik","date":"June 22, 2024","format":false,"excerpt":"Financial technologies address severe business challenges by deploying intelligent AI solutions. This has been done by improving data analytics, lending risk assessments, and customer service personalization. There has never been a time when the symphony between smart algorithms and finance was both intricate and necessary. This guide discloses the dynamic\u2026","rel":"","context":"In "Machine Learning Guides"","block_context":{"text":"Machine Learning Guides","link":"https:\/\/www.upnxtblog.com\/index.php\/category\/machine-learning\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2024\/06\/Fintech.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2024\/06\/Fintech.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2024\/06\/Fintech.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2024\/06\/Fintech.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2024\/06\/Fintech.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":6828,"url":"https:\/\/www.upnxtblog.com\/index.php\/2022\/03\/20\/tech-startups-and-investment-corporates-are-leaders-in-the-crypto-market\/","url_meta":{"origin":7252,"position":1},"title":"Tech startups and investment corporates are leaders in the crypto market","author":"Karthik","date":"March 20, 2022","format":false,"excerpt":"Cryptocurrencies are digital media used in business transactions, either personally or in industries and organizations. These virtual currencies have achieved great acceptance by the entire economic and commercial boom. The companies that have joined the implementation of cryptocurrencies in their activities have obtained significant profits in the short term; this\u2026","rel":"","context":"In "Blockchain"","block_context":{"text":"Blockchain","link":"https:\/\/www.upnxtblog.com\/index.php\/category\/blockchain\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2020\/09\/bitcon-trader.jpg?fit=1000%2C563&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2020\/09\/bitcon-trader.jpg?fit=1000%2C563&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2020\/09\/bitcon-trader.jpg?fit=1000%2C563&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2020\/09\/bitcon-trader.jpg?fit=1000%2C563&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":3914,"url":"https:\/\/www.upnxtblog.com\/index.php\/2019\/06\/10\/upenn-fintech-specialization-from-coursera\/","url_meta":{"origin":7252,"position":2},"title":"UPenn Fintech Specialization from Coursera","author":"Karthik","date":"June 10, 2019","format":false,"excerpt":"Coursera Specialization is a series of courses that helps you master a skill. To begin, you can enroll in the Specialization directly, or review its courses and choose the one you'd like to start with. When you subscribe to a course that is part of a Specialization, you\u2019re automatically subscribed\u2026","rel":"","context":"In "Learn something new everyday"","block_context":{"text":"Learn something new everyday","link":"https:\/\/www.upnxtblog.com\/index.php\/category\/courses\/"},"img":{"alt_text":"school","src":"https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/back-to-school-2628012_1920.jpg?fit=1200%2C776&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/back-to-school-2628012_1920.jpg?fit=1200%2C776&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/back-to-school-2628012_1920.jpg?fit=1200%2C776&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/back-to-school-2628012_1920.jpg?fit=1200%2C776&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/back-to-school-2628012_1920.jpg?fit=1200%2C776&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":7062,"url":"https:\/\/www.upnxtblog.com\/index.php\/2022\/12\/04\/defi-decentralized-finance-smart-contracts-and-blockchain\/","url_meta":{"origin":7252,"position":3},"title":"Defi: Decentralized Finance, Smart Contracts, and Blockchain","author":"Karthik","date":"December 4, 2022","format":false,"excerpt":"Defi, or\u00a0Decentralized Finance, means an ecosystem of financial applications developed on\u00a0Blockchain technology. What is Defi? The birth of this\u00a0Ecosystem of Decentralized Applications\u00a0represents a turning point in the way of conceiving finance in the modern era. Thanks to Defi, anyone with an internet connection can take advantage of a myriad of\u2026","rel":"","context":"In "Blockchain"","block_context":{"text":"Blockchain","link":"https:\/\/www.upnxtblog.com\/index.php\/category\/blockchain\/"},"img":{"alt_text":"bitcoin","src":"https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/bitcoin.jpg?fit=1200%2C801&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/bitcoin.jpg?fit=1200%2C801&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/bitcoin.jpg?fit=1200%2C801&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/bitcoin.jpg?fit=1200%2C801&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/bitcoin.jpg?fit=1200%2C801&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":5576,"url":"https:\/\/www.upnxtblog.com\/index.php\/2020\/06\/12\/fintech-innovations-specialization-from-university-of-michigan\/","url_meta":{"origin":7252,"position":4},"title":"Fintech Innovations Specialization from University of Michigan","author":"Karthik","date":"June 12, 2020","format":false,"excerpt":"We have already looked at TOP 100 Coursera Specializations and today we will check out Fintech Innovations Specialization from the University of Michigan. Coursera Specialization is a series of courses that help you master a skill. To begin, you can enroll in the Specialization directly, or review its courses and\u2026","rel":"","context":"In "Learn something new everyday"","block_context":{"text":"Learn something new everyday","link":"https:\/\/www.upnxtblog.com\/index.php\/category\/courses\/"},"img":{"alt_text":"school","src":"https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/back-to-school-2628012_1920.jpg?fit=1200%2C776&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/back-to-school-2628012_1920.jpg?fit=1200%2C776&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/back-to-school-2628012_1920.jpg?fit=1200%2C776&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/back-to-school-2628012_1920.jpg?fit=1200%2C776&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/back-to-school-2628012_1920.jpg?fit=1200%2C776&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":3700,"url":"https:\/\/www.upnxtblog.com\/index.php\/2019\/04\/15\/guest-post-blockchain-a-fintech-game-changer\/","url_meta":{"origin":7252,"position":5},"title":"Guest Post : Blockchain – A Fintech Game-Changer","author":"Karthik","date":"April 15, 2019","format":false,"excerpt":"This week's Guest post comes from\u00a0our friends at Carsurance Fintech\u2019s history is characterized by groundbreaking ideas, as illustrated by Carsurance in its infographic. Many of the innovations introduced several decades ago continue to serve as today\u2019s standards. A good case in point is the development of the Fedwire Funds Service\u2026","rel":"","context":"In "Blockchain"","block_context":{"text":"Blockchain","link":"https:\/\/www.upnxtblog.com\/index.php\/category\/blockchain\/"},"img":{"alt_text":"bitcoin","src":"https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/bitcoin.jpg?fit=1200%2C801&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/bitcoin.jpg?fit=1200%2C801&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/bitcoin.jpg?fit=1200%2C801&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/bitcoin.jpg?fit=1200%2C801&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.upnxtblog.com\/wp-content\/uploads\/2017\/11\/bitcoin.jpg?fit=1200%2C801&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.upnxtblog.com\/index.php\/wp-json\/wp\/v2\/posts\/7252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.upnxtblog.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.upnxtblog.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.upnxtblog.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.upnxtblog.com\/index.php\/wp-json\/wp\/v2\/comments?post=7252"}],"version-history":[{"count":2,"href":"https:\/\/www.upnxtblog.com\/index.php\/wp-json\/wp\/v2\/posts\/7252\/revisions"}],"predecessor-version":[{"id":7255,"href":"https:\/\/www.upnxtblog.com\/index.php\/wp-json\/wp\/v2\/posts\/7252\/revisions\/7255"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.upnxtblog.com\/index.php\/wp-json\/wp\/v2\/media\/7253"}],"wp:attachment":[{"href":"https:\/\/www.upnxtblog.com\/index.php\/wp-json\/wp\/v2\/media?parent=7252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.upnxtblog.com\/index.php\/wp-json\/wp\/v2\/categories?post=7252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.upnxtblog.com\/index.php\/wp-json\/wp\/v2\/tags?post=7252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}