Opinion: Finding financial wellness in a digital age

Stephanie Staggs

In today’s fast-paced digital world, achieving financial wellness can seem more complex than ever. With a flood of financial information, apps and online platforms, it’s easy to feel overwhelmed or unsure about where to start. It’s true embracing technology can transform your financial well-being; however, it’s important to strike a balance between leveraging digital tools and maintaining sound financial principles.

Brett Payne is the founder and CEO of Contender eSports. He uses technology on a daily basis in his business.

“Technology has made budgeting and saving feel less like a chore. At Contender eSports, we automate a lot of our processes and I’ve taken the same approach in my personal life,” Payne says. “Automating savings takes the emotion out of it and lets you focus on bigger goals. Ryan Holiday says, ‘Discipline equals freedom,’ and I think technology helps make that discipline easier to maintain.”

Digital platforms are revolutionizing how we manage our money, offering convenience, automation and access to real-time data. Here’s how these tools can help you:

1. Budgeting apps. These can track your spending in real time, categorize expenses and alert you when you’re overspending. These tools take the guesswork out of budgeting, helping you to stay disciplined and in control.
2. Automated savings. Many digital banks, credit unions and fintech apps allow you to automate savings, often rounding up your purchases to the nearest dollar and saving the difference. This set it and forget it method can make a big difference over time without requiring constant attention.
3. Real-time financial data. You now can get a full picture of your net worth, including assets and liabilities in real time. This transparency helps with decision-making and understanding your financial health at any moment.

For Payne and his business, he tells me keeping it simple is key to success.

“The best strategy? Automation. I set things up to save automatically, whether for Contender or my personal finances. It’s like putting savings on autopilot so you don’t have to think about it. Small, consistent actions lead to big results,” he says.

At the nonprofit Big Brothers Big Sisters of the Ozarks, financial wellness couldn’t be more important.

“Keeping BBBS of the Ozarks financially sound is about ensuring we can fulfill our mission today and in the future. In the digital age, things move fast – donors expect transparency, secure giving options and immediate results. Having strong financial practices gives us the stability to adapt, invest in new tools and stay focused on what matters most: making a lasting impact on the children, families and volunteers we serve,” says CEO Susan Mellentine.

However, while digital tools are incredibly powerful, they come with risks. It’s essential to be mindful of data security, privacy and over-reliance on automation. Here are a few tips to protect yourself, your business or your nonprofit:

1. Be aware of cybersecurity. Use strong, unique passwords for each financial service and enable two-factor authentication whenever possible. Monitor your accounts regularly for any unauthorized transactions or suspicious activity.
2. Stay educated. While robo-advisers and apps can automate much of your financial management, it’s important to understand the basics of investing, saving and budgeting. Without knowledge, it’s easy to make mistakes or become overly reliant on algorithms that might not fully align with your personal goals.
3. Avoid information overload. With so many apps, articles and financial gurus online, it’s easy to feel overwhelmed or be swayed by conflicting advice. Stick to trusted sources and remember that financial planning is a personal journey – what works for others may not work for you.

In the digital age, financial wellness is about integrating the power of technology with timeless financial principles. By leveraging the right tools and staying disciplined, you can take charge of your financial future with confidence. Remember that technology is a complement to personalized financial advice. Whether you’re looking to grow your investments, plan for retirement or simply gain more control over your money, finding the right balance between human expertise and digital convenience is key to achieving lasting financial wellness.

Stephanie Staggs is the owner of Staggs Financial Services LLC and previously was the Springfield region executive for the Better Business Bureau. She can be reached at
stephanie_staggs@glic.com.