Leveraging Technology To Help With Financial Planning for the Self-employed

• Automate savings to ensure regular deposits and grow finances with minimal effort. Set up auto transfers using online banking tools.

• Track expenses and categorize them for easier budgeting with apps like Expensify and Mint. These apps sync with your bank account.

• Invest wisely by utilizing various kinds of assets such as real estate, stocks, cryptocurrencies, and bonds.

• Monitor your credit score with services like Credit Karma which sends out notifications of changes in the score.

• Develop a retirement plan using online calculators and research tools to get started.

Financial planning can often be a daunting task for the self-employed. With no regular income and unpredictable expenses, it is easy to get overwhelmed by the financial responsibilities of running your own business. Fortunately, technology is here to help! Here are a few ways you can use technology to streamline and simplify your financial planning process as a self-employed individual.

Automate your savings.

Setting up automated transfers from your checking account into a savings or investment account is one of the easiest and most effective ways to ensure that you are saving money each and every month. Using online banking tools makes this process even more accessible. All you need to do is set up auto transfers on a schedule that works for you, and you will never have to worry about forgetting or missing payments again!

Track your expenses.

Keeping track of your expenses can be time-consuming, but fortunately, there are plenty of apps available that make it easy to stay organized. Apps such as Expensify and Mint allow you to quickly categorize expenses, set budgets, and even track mileage for tax purposes. You can also sync these apps with your bank, so all transactions are automatically tracked, making keeping tabs on your spending easier.

Invest wisely.

Investing can be intimidating for those who don’t have a lot of experience in the area, but luckily there are plenty of online resources available that can help you make intelligent choices when it comes to investing your money. From online courses on investing basics to robo-advisors like Wealthfront or Betterment that create personalized portfolios tailored specifically to your needs, there’s something out there for everyone when it comes to investing their hard-earned money wisely. These resources can teach you about investing in various kinds of assets, including the following:

Real estate


Real estate is one of the most popular investments for self-employed individuals, but it can be time-consuming and challenging to navigate independently. Fortunately, online real estate platforms such as Fundrise allow you to invest in real estate without having to go through the hassle of dealing with landlords or tenants.


Investing in stocks can be intimidating, but plenty of online resources are available to help you get started. Websites like Etrade and TradeStation offer courses on stock trading basics and helpful tools for researching potential investments before diving in.


Cryptocurrencies are becoming increasingly popular for self-employed individuals looking for a more hands-off approach to investing. Services such as Coinbase make buying and selling digital currencies easy without being an expert in the field.


Bonds are another excellent option for those looking to diversify their investments. Websites like Fidelity offer online courses, resources on bond basics, and tools to help you find the right bonds for your needs.

By utilizing digital resources to help you in investing, you can increase your financial literacy and create a more secure future for yourself.

Monitor your credit score.

It’s important for any business owner or entrepreneur to keep an eye on their credit score so they know where they stand financially at all times. Fortunately, with services like Credit Karma, you can now monitor your credit score free of charge (it even sends out notifications when there have been changes), which makes staying informed about your financial health easier than ever before!

Develop a retirement plan.


One of the most essential things any self-employed individual can do is set up a retirement plan. Using online retirement calculators and research tools is a great way to get started with setting up your retirement plan.

However, you shouldn’t depend entirely on this technology. It’s still best to partner with professionals that specialize in providing retirement plans for self-employed individuals. They can offer personalized advice and help guide you in the right direction. They can also help ensure you take advantage of all the tax benefits available to self-employed individuals.

Technology is a powerful tool for self-employed individuals to use when managing their financial planning. From automated savings and tracking expenses to investing wisely and monitoring credit scores, many digital resources are available that make it easier than ever to stay on top of your finances.

Additionally, partnering with professionals specializing in retirement plans can help ensure you’re taking full advantage of all the tax benefits available as a self-employed individual. By leveraging technology and seeking professional advice, you can take control of your financial future!

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