The world is in a constant state of flux and nowhere is this truer than the financial sector. Interest rates, inflation, house prices, earning power, and everything else in between change on a regular basis. The majority of people know these things change but they rarely take much notice unless it impacts their own finances. Indeed, if your wage hasn’t increased for five years but you notice the cost of living has, you’ll suddenly become interested in economics. However, when we aren’t being personally affected, there’s a tendency to let economic changes wash over us.
We’re here to tell you that this is a mistake. We’re not saying you need to become the next John Maynard Keynes or Janet Yellen, but you should be aware of what’s going on in the world. Let’s assume that mortgage rates are set to increase. You’ve heard that an announcement is pending and your current product is up for renewal. Based on the available information, it would be a good idea to lock in a new long-term rate because there’s a good chance the baseline rate will increase if you wait too long.
This is a basic example of how a little bit of information can help your financial situation. There are many others, but the point is that knowledge is a powerful thing. The more you know, the better off you could be financial. Of course, nothing is ever guaranteed in life. Just because you’re aware of an economic shift, it doesn’t mean you can react in a way that yields a positive outcome. However, with knowledge, you at least give yourself a fighting chance. So, with this in mind, here are some online apps you can use to get potentially life-changing financial data.
Yahoo Finance provides an overview of the world’s stock markets. Tracking stock market data is important because the fortunes of major corporations reflect the state of economies. For example, if the share price for major retailers, such as Walmart, are bullish, then you can assume consumers are spending more. When consumers are spending more, it means they’ve got more to spend which, by implication, suggests earning power is outpacing inflation.
You can’t keep on top of economic developments if you don’t know what’s being announced and when. You can look at the economic calendar this week by using TradingView’s free online app. As well as providing an overview of US economic announcements, the sortable calendar contains entries for all major economies. You can use this to look ahead and anticipate what might happen. From this, you can do some research to get a better idea of what an announcement will be before it happens.
Another free resource you can use to track economic activity is Twitter. There are plenty of accounts that offer real-time updates, historical data, and commentary from expert economists. As always, caution is advised when it comes to taking information from social media sources. However, if you stick to reputable accounts, such as CBI Economics and Bloomberg, you shouldn’t go too far wrong.
Online apps make it easier than ever to educate yourself about economic matters. It’s always worth being financially savvy, but it becomes even more important during tough economic times. The good news is there are plenty of ways to track the economy, keep your finger on the pulse, and have a better perspective on financial matters that might affect you.
Research Snipers is currently covering all technology news including Google, Apple, Android, Xiaomi, Huawei, Samsung News, and More. Research Snipers has decade of experience in breaking technology news, covering latest trends in tech news, and recent developments.
