The global marketplace is exploding with fintech apps that are empowering millions of consumers like you to make money. How? Fintech helps you keep money in your hands, meaning you are in control of your financial goals. When you are in control of your money you make money.
Fintech empowers us to pursue our financial needs on our own terms.
When you are Financially Empowered You Make Money
Here are some easy ways to make money.
- Track and control your spending.
- Improve your credit score.
- Eliminate financial waste so that you have more money at the end of the month.
When you move from a paycheck to paycheck existence, you will have money leftover that can make money for you. How?
- You will have more money to put into your emergency fund, so you don’t have to use your credit card when something unexpected occurs.
- You will have more money to put into your retirement savings, so you can retire sooner and get started on your long-term life goals.
- You will have more money to put toward paying down your debt, which robs you every month of your money.
- When you need financing, if your credit score is good, you will not suffer the negative impact of exorbitant interest rates and fees.
In a nutshell, Fintech empowers you to secure financing, track your spending, pay your bills, transfer money, make investments and control your money accounts.
A Quick Review of Fintech Platforms that Help you Make Money
Marketplace lending is a groundbreaking fintech that created a channel for consumers to access loans online. Also known as online lending, peer-to-peer and P2P lending platforms, this fintech has probably done more than any other to financially empower consumers all around the world.
- The peer-to-peer lending industry helps you get back in control of your financial life.
- P2P platforms, such as Peerform, are online, meaning you don’t have to deal with bank hours and loan officers.
- P2P platforms utilize different algorithms to determine your creditworthiness. This means that doors previously closed to you are now open.
You can apply for a personal loan to cover a wide variety of needs, such as debt consolidation. Everything is done online, whenever you are available and wherever you are. The marketplace lending terms are more favorable, and you receive the funds you need in a timely manner.
How does P2P lending help you make money? A personal loan from a marketplace lender helps you cover the deficit between what you have saved and what you still need to pay.
For instance, a wedding: you have most of the money saved, but you have some providers who want to be paid now. You don’t have it. You can get a P2P loan so you can take care of everyone who is demanding to be paid upfront. This is a much than putting the charges on your credit card, something that will not help you make money.
A loan from a peer-to-peer lender is repaid automatically from your account. This means your payments are in full and on time. This helps you improve your credit score. With a good credit score, you can access much more favorable interest rates on credit cards, mortgages or auto loans.
Money Transfer Apps
Money transfer apps are also known as peer-to-peer payment services. This fintech is radically disrupting the financial industry. With a money transfer app, you can easily transfer money to a business, family member or friend. You can even pay your rent or split the restaurant check.
Most money transfer apps are free for personal use, meaning that they not only simplify your life but also save you money. When you save money, you make money.
Among the most highly rated P2P money transfer apps are Venmo, Facebook Messenger, CashApp, and Google Wallet. Paypal is the parent company of Venmo, but it also has a P2P money transfer app for businesses. If you have family or friends living overseas, you might want to download WorldRemit. WorldRemit securely transfers money to more than 140 countries around the world. The money you transfer can be picked up, kept in a mobile account or deposited into a bank account.
Many money transfer apps do not require you to have a banking account, although today many banks have hopped on the fintech wave and offer their own money transfer apps.
Fintech Apps to Help you Track your Money and Control Your Finances
Money management apps help you track and control your money. These apps can also function like a virtual financial assistant, prompting you to pay your bills on time and even automatically transferring money to your savings accounts.
When you know where your money is going each month, pay your bills on time, and save as much as you can, you make money.
According to consumers and financial experts, among the best money management apps are: Mint, PocketGuard, You Need a Budget, Wally, and Mvelopes. These apps range from simple money management and budgeting assistants to sophisticated fintech tools that help you invest your money. We live in a digital world, so what better way to become financially empowered and make money than to make use of a money management app.