Nearly a quarter of the way through the century, it is an interesting time to reflect on just how much has changed. 

In the 24 years since millennium celebrations and “Y2K” rumors, the world has changed in so many ways that nobody could’ve predicted. Take high-speed internet as an example, and the way that it is ingrained in everything we do. Even our phones can download and upload at high speed and connect to streams all over the world.

Personal finance serves to highlight how far things have come, too. Remember the days of paying with a check? Remember having to go into a bank to make a deposit or ask about your balance? Personal finance isn’t what it used to be, and most changes are making life more convenient.

Cryptocurrency Changes Finances

Cryptocurrency seems like such a hot topic and one that has been growing for some time now. It is hard to think that it didn’t actually become popular until the last decade or so, and even when the first cryptocurrencies launched it took a long time for them to get a huge amount of traction, as they were challenging the everyday norms. 

Industries like gambling embraced cryptocurrency very quickly, giving a method for transactions to be made more conveniently and quickly meant that crypto casinos launched to present a different option to casino gamers. Some people have been drawn to these casinos for their choice of games, and Bitcoin casino promotions for new players may also maximize the deposit or provide things like free spins. 

Studies have suggested that the majority of crypto transactions now involve gambling in some form, which goes to show just how interlinked the industries are. 

People opt for cryptocurrencies for their transactions based on the fact that they have such a fast and low-cost method of moving funds around. Plus, people who are holding crypto may find this is much more convenient, as they simply add funds via their digital wallets.

Crypto has been embraced by many other industries now, and though casino gambling led the way we also see it used to purchase games on platforms like Steam (via BitPay).

Online Banking and Apps

Checking your balance any time without having to go to an ATM machine or into a bank is hugely convenient, and even helps people to manage their money better. As security on devices has also improved, with things like face ID giving an extra layer of peace of mind, people are more comfortable managing money on the go along with all the added things these apps allow, like managing upcoming payments and more.

Mobile Payments

People in the 1990s would have struggled to believe the fact paying via a mobile device would become mainstream. Contactless payments were introduced in the US in 2004 but took some time to become the main way people paid, and then the launch of innovations like Google Pay and Apple Pay added another level of convenience. We live in an age where people can now pay for things with a flick of their watch on a contactless screen – that’s not something even Kubrick predicted.

This is one of those things that we take for granted now. After going for a meal, if you need to split a bill with your colleagues or friends then you can even use dedicated apps to do this and work things out, or features from online banks. Moving money into savings pots, paying your mortgage, and more, have all become super simple from a laptop or even from a mobile device. 

Digital wallets also facilitate them, some even have a “tap to transfer” feature and many mobile payment apps make it very simple to move money and set up direct debits and other payments.

Speed of Payments

Cryptocurrency is the main innovation that has altered the speed of people moving money around, but even using apps and other methods to transfer money or make payments has become much speedier, too, such as moving money into an IRA savings account.

Human involvement has become less important as the verification of payments becomes automated, and on top of this, countries are introducing faster payment methods that guarantee transfers and let banks approve them much more quickly. This is one of the reasons why you may see a payment pop up in your account very quickly.

Conclusion

The financial landscape has changed. Most aspects of modern life have become more convenient, and paying for things is just one part of that. 

You may be the kind of person who is constantly checking the bank account or even switching banks and digital wallets for bonuses and promotions they offer, or you might only go into the apps and manage the money when you need to, but either way, things are simpler than they were and virtually unrecognizable from 1999. Even cryptocurrency technology is not something a lot of people could’ve predicted back in the 90s.