At a time when digitalization is advancing in all sectors and artificial intelligence is beginning to form part of our routines, it is surprising that Financial planning with these tools continues to be a pending subject for many people.
However, its adoption is still limited, either due to ignorance or simply laziness. And yet, incorporate digital tools It is essential to ensure our peace of mind and better manage our daily lives.
Despite technological advances, many people encounter barriers to planning their finances. There is no single valid solution for all profiles, but there is a common process. The first stage requires that the user have a clear diagnosis of the current situation of income and expenses.
From there, the next step is to define objectives, assess their viability and compare different scenarios. Additionally, it can be useful to include milestones such as retirement or home purchase to project the evolution of your wealth in the future.
Currently, people face different difficulties when planning their finances. One of them is the feeling of complexity: many times it is thought that planning is complicated when its essence is to ensure that you do not spend more than you earn. The risk is falling into excessive simplifications that lose their real importance.
Many people focus on the short term and do not evaluate how their decisions may affect their financial future.
Another difficulty is the technical language, which alienates many users if it is not presented in an accessible way, and finally the lack of medium and long-term perspective intervenes. Many people focus on the short term and do not evaluate how their decisions may affect their financial future.
With these difficulties, the use of technology becomes even more necessary, because an appropriate tool can offer pedagogical solutions and break down complex concepts step by step in a clear and guided way. In addition, the visual part facilitates understanding and makes the process more intuitive.
And, above all, thanks to the availability of data and new advances such as artificial intelligence, It is possible to offer personalized planning tailored to each situation.
The use of technology in planning must be based on several principles. One of the most important is simplicity in both entering data and interpreting the results. A clear interface helps you focus on what’s important.
Secondly, accessibility is especially relevant today. The European Accessibility Act (EAA) requires that all digital content can be used by anyone. Technology facilitates the elimination of barriers, but to do so the tool must accompany, explaining the context and impact of each decision.
Technology can simplify the process, accompany the user and offer a clear vision to make informed decisions and build a safer future
Finally, it is important to incorporate a life perspective, including personal and professional milestones, to anticipate future needs.
Currently, many applications record income and expenses, but do not allow projecting future scenarios. It is convenient to illustrate this with two common cases: a 30-year-old person wants to buy a home in 5 years; With a basic tool you can know your savings capacity, but you cannot make a projection of how this decision will affect other financial goals or consider various variables.
Similarly, a 55-year-old close to retirement can record his movements and even estimate his pension, but he will hardly be able to simulate scenarios based on his future income level and the way to complement your savings or investments to live with peace of mind.
These cases show the importance of complete planning, which goes beyond the record of the present. The true added value is in simulating future scenarios combining the current situation with the savings capacity and current decisions.
These types of tools must become fundamental support for financial education and responsible banking. Personalization allows you to adapt to different profiles, helps reinforce basic knowledge of money management and serves as a guide for more advanced savings and investment decisions. In banking and advice, they promote more accessible and transparent services.
To conclude, financial planning is essential to live peacefully, although many people encounter difficulties. Technology can simplify the process, accompany the user and offer a clear vision to make informed decisions and build a safer future.
*** Manuel Pozo is Afi Global Education teacher