J Money

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Times Are Changing – And Your Financial Habits Should Too

Finance is one of the most rapidly evolving fields at the moment, and even those who’re directly involved with it on a professional level may sometimes find it hard to keep up with the trends. And these kinds of changes have implications throughout the entire system – all the way to the very bottom. You can’t expect to live with the same habits a person from 30, even 20 years ago had and see good results.

That said, what are the changes one should be aware of, and how should we adapt to them? It turns out answering that question is not that straightforward. But there are a few things everyone should keep in mind that are generally healthy financial habits.

The Current State of the Financial Market

More and more is moving into the digital sphere, and this is something people need to be aware of. Many still have their attachment to hard currency, but they’re going to have to let go of those sentiments sooner or later. Whether you like it or not, digital money is the way of the future, and many countries are already experimenting with completely transferring their economy into the cloud.

Will this work out? Not without problems, surely. But this kind of evolution is inevitable at this point, and those who adapt to it early on are the ones who stand to benefit the most in the future. Don’t let this trend overtake you, because it will be difficult to catch up later.

Easier Access to Diverse Products

The internet, combined with advanced marketing strategies and a deeper understanding of customer needs, has led to a situation where most people have very convenient access to the exact kinds of services that they need. Not only that, but it’s easier to customize your search and narrow it down to a few specific parameters, getting exactly what you’re looking for.

This is valid for the financial market as well, and things like customized loan deals are becoming increasingly common across the board for this very reason. Investing a little more time in your research when looking for something like that can be very effective.

The Problem with Constant Marketing

On the flip side of the coin, the trend to constantly keep pushing marketing deeper into our lives is also a problematic one, and the implications it has should not be ignored. Consumers need to be aware of the way they’re being targeted by marketing companies and their promotional campaigns, because this can lead to reckless spending, and subsequently, severe money issues.

Avoiding this is as simple as educating yourself on the way modern marketing works, and trying to stay aware of any situations where you might feel like you’re being pressured into making a decision. Marketing companies have access to more than you might think, thanks to advances in AI and related fields. But you can still do a lot to negate those harmful effects by paying more attention.

Digital Tools for a Simpler Life

That said, you shouldn’t be scared of new technology. Embracing it can have many positive effects on your life, especially if you use it the right way. You don’t have to be a tech guru to take proper advantage of modern devices and online solutions, especially if you have access to the internet. Pretty much all information you’re ever going to need is out there, and it’s only a matter of taking the time to look it up and do something with what you’ve learned.

Sometimes, investing into a new device or an online subscription to a useful service can make a lot of sense. Spending some money can save you a lot in the long run if you play your cards right, and there is no shortage of opportunities for that in the modern world. Take a look at some budgeting apps, for example – the best ones aren’t free, but they can save you a lot of money.


It’s hard to ignore all the talk about cryptocurrencies lately, especially if you’re online often. They’re a relatively new field, but have seen very rapid development in a very short period of time. And while we’ve already seen examples of how cryptocurrencies can be useful and can easily integrate into the modern world, people should have a cautious approach to them.

That’s because the technology is still in a relatively young stage, and many questions still need to be answered. Issues with centralization and control over wallets remain on the table, and there doesn’t seem to be a good answer to most of those problems yet. But make no mistake – this is definitely something worth keeping an eye on in the long run. And if you have a little extra money that you wouldn’t mind losing, you can even try your luck in the investment game.

5 Personal Finance Tips Everyone Needs to Know

Managing your personal finances is a fundamental life skill that everyone should have on at least some basic level. But looking at most people out there, one worrying trend emerges: there’s a large number of people who’re completely clueless about how their money works, and have no understanding of their finances beyond “salary goes in, expenses go out”.

You might not think that this matters much now, but you’ll sooner or later hit a point in your life where you’ll wish that you’d paid more attention to finances in the past. And unfortunately, when that happens, it’s usually a bit too late to start making the right kinds of changes. Which is why you need to get things under control now.

  • Use Digital Tools to Their Full Potential

You probably have a computer, laptop, smartphone, or another similar digital device. And if you’re like most people, you’re likely using it for things like social media, e-mails, general surfing, music, and other kinds of entertainment. Which is a problem, because modern electronics can be an extremely helpful tool when it comes to managing your personal finances.

It can take some time to get everything set up properly, but once you’ve covered the basics, it’s pretty easy to keep the ball rolling. Set up online banking (if you don’t have it yet), enable push notifications and other kinds of alerts on your accounts, and start using a budgeting tool. Before you know it, you’ll have a completely different outlook towards your money.

  • Have an Emergency Fund

This might sound obvious, but you’d be amazed at the number of people who still don’t have that base covered. Having an emergency fund means that you’re far less likely to find yourself stuck in a bad financial situation with no way out. It can take a while to build one up, but after that you just have to maintain it and ensure that you don’t use it for anything unnecessary.

The size of your emergency fund will vary according to certain parameters in your lifestyle (more on that below), but you should typically always have enough money for several months’ worth of expenses – including rent. This means that you’ll be able to meet pretty much any kind of disaster in your life (up to certain reasonable limits), and you’ll be able to rest more comfortably knowing that you’re taken care of even if something bad happens.

  • Don’t Be Afraid to Borrow Money

However, no matter how prepared you might be, you might eventually get to a point where you can’t progress without a loan. Many people have an aversion to asking for money, no matter what their financial status might be as a whole. And that’s a problem, because loans can be a viable method for resolving these types of problems.

It just comes down to borrowing responsibly. If you’ve heard discussions that paint loans in a negative light, you might have noticed that it often comes down to someone treating them like a source of infinite money that they never have to worry about paying back.

  • Investing Is Easier Than You Might Think

Pretty much everyone has access to the tools necessary to get started with investing these days. And while most people see investing as some kind of mythical ritual that only a few are worthy of attempting, the reality is that it’s actually quite the accessible field if you have a knack for researching things.

It’s actually becoming easier all the time, which is why you might constantly keep hearing other people talking about their own investment plans. As long as you have some funds saved up – and you aren’t afraid of losing them in an investment gone wrong – there’s a whole world waiting for you out there to explore. Just be reasonable, take it slowly, and make sure that you never dip below your critical limits.

  • Reasonable Saving Limits

Speaking of limits, don’t treat your savings account as something that you should pump up indefinitely. It’s good to have money saved up, sure – but at some point, you’re going to start seeing diminishing returns. Generally, you should be aiming to have enough money to live comfortably for 6-12 months without a job. Put a little extra aside for emergency expenses (medical, repairs, etc.) and you pretty much have that front covered.

But beyond that, you should think about doing something more worthwhile with your money. There are many ways to make it work for you, instead of letting it sit idly in a savings account. And it’s often worth taking the time to research those things, especially if you keep finding yourself with more savings than you originally anticipated.