Learn These Tricks For Financial Management As soon as You Turn 18 Because They are Going to Help You a Lot

Not everyone can say that they have knowledge about finance management. Even though some people think of it as something simple and not important, financial management is everything but that. As soon as people turn 18, they should know how money works and how to manage it so it can help them in future. This article is going to talk about some points that everyone should know when it comes to their money. So let’s start.

Top 10 Lessons that Can Help you with Money Management

Following are the top 10 lessons that undergraduate students should know when it comes to their money and which things they should invest their money on.

1- Evaluate Your Money and Things You Want to Do With It

Before you start planning financial management, evaluate everything on your own. What do you want to do in your life with the money you have? Most young people dream of buying a house with their money. Don't feel pressured if buying a house is not your goal. If you want to save money to travel the world, that's okay too.

2- Investing is the Best Option

Start investing as soon as possible. This is called Compound Interest. The longer your money is being invested, the more compound interest works its magic. Even if you can only contribute a small amount of money at first, it’s okay because your investment matters.

3- Do Not Waste Your Money on Unnecessary Things

Only buy things that you need and do not spend on extra items. Take your time and think about whether you really need a thing or you are just wasting your money. Note down what you spend in a month as it will help you identify how you are spending your money.

4- Discuss Your Finances With Everyone

Talking about money used to be taboo, but not anymore. Talking about finances openly is helping to break down barriers and gaining knowledge.

5- Learn to Bargain when Needed

Bargaining is a skill that is very important if you want to save some of your money. You might be surprised how much you can save by simply asking for a lower price or requesting utilities to be included in your monthly rent.

6- Don’t be Afraid to Ask Questions About Money

Don't be afraid to ask questions about money and finances that you don’t understand. Have you ever seen unexpected charges on your bank statement or doctor's bill? Asking about them can help you a lot in making sense of money.

7- Learn from Your Past Financial Mistakes

Financial mistakes happen sometimes when people are learning to manage their money, but don’t let them empower you. Use your financial mistakes as lessons and learn to manage well from them.

8- Make Friends who Have Some Financial Goals as You

Make friends with people who share the same financial values and goals as you. Make friends who have the same financial status as you and discuss you money with them.

9- Plan Some Low Cost Activities for Yourself

Keep your budget in mind and plan activities that don’t take huge amounts of money from you. There are many free and low cost activities that you can choose from and they will not leave a dent on your budget.

10- Wealth Isn’t Always About Money

Your happiness shouldn’t only revolve around money and its management. It doesn’t matter how much money you own and how good you are in managing it, what matters the most if your happiness and comfort.

Image: DIW-Aigen

Read next: These Are Top States for Remote Work in the US, Highlighting Affordability and Quality of Life Factors
by Arooj Ahmed via Digital Information World

Top 10 Freelance Jobs That Are Getting Popular in 2024

We all know that freelancing is getting popular with each passing day. According to a survey, about 64 million Americans did freelance work one way or another. With these large numbers, the future of freelancing and freelancers seems bright. There are a lot of advantages of freelancing like working from home, great employee rates, better pay, etc.

Many people like to freelance because they have jobs in various fields. According to the State of Remote Freelance Jobs Report by FlexJobs, remote freelance jobs have grown about 20% in the last year. For your better understanding, the following is a list of some remote freelance jobs that you can start doing anytime with the right skills.

1- Virtual Assistant

Virtual assistants are getting very popular among small businesses and entrepreneurs. These people hire freelance assistants who handle all their administrative tasks virtually. The role of a virtual assistant is just like any other assistant as they coordinate calendars, respond to emails, and perform other admin-related tasks. The annual salary of a virtual assistant ranges from $43,043 to $50,640.

2- Graphic Designer

If you are creative and know how to create beautiful designs using graphics designing softwares, freelance jobs for graphic designers are also seeing a rise. A freelance graphic designer designs logos, brochures, or any other visual media that represents a job or organization. The average salary of a Freelander graphic designer is $44,460.

3- Bookkeeper

A freelance bookkeeper keeps up with all the account details of a business or an organization. A bookkeeper helps business owners to manage their resources and make an estimate of their profits and losses. They also help with taxes. The average annual salary of a bookkeeper is $83,728. With more expertise in the work, the individual can get a higher salary.

4- Project Manager

A project manager is responsible for managing a project for a business or organization. These freelancers mostly work on a contract basis and provide management services from the comfort of their homes. The average salary for a project manager is $87,750 in the US.

5- Copywriter

If you are someone who loves writing, there are many freelance jobs available that seek individuals for copywriting opportunities. Freelance copywriters can write for websites, email marketing, campaigns, digital marketing, and much more by using your writing skills. As a freelance copywriter, you can earn $58,644 on average.

6- Customer Services Representative

If you love representing people and organizations, you can work as a freelance customer services representative. There are many jobs available for them on different freelancing websites. You can work as a freelancer as well as a contract employee, and can make $49,966.

7- Social Media Specialist

If you have a background in social media or digital marketing, you can work for multiple clients by freelancing as a social media specialist. As a social media specialist, you will have to make different kinds of social media campaigns and help your clients optimize their social media profiles and pages. It is a freelance job that pays well with an average salary of $48,447.

8- Video Editor

A video editor reviews and transforms raw videos from clients into edits and changes their sound, arrangement, and cuttings to make the video more pleasing to watch. Video editors are also one of the freelancers who are in high demand in the freelance market. Its average salary is $88,706.

9- Marketing Manager

Marketing managers plan out strategies for different clients to engage the target audience toward a certain product. Although marketing managers are mostly seen as full-time employees in different organisations, there are also freelance opportunities for them that they can perform remotely too. Being a freelancing market manager can get you a $92,674 salary on average.

10- Communications Specialist

The role of a communications specialist is to communicate with the public on behalf of the head by making press releases, media content, and social media advertising. It is a great job to build awareness for a company before the whole world. A freelance communications specialist can make $94,191 on average in America.

Image: DIW-AIgen

Read next: Salaries for Remote Work Have Started to Decline, New Study Reveals
by Arooj Ahmed via Digital Information World

A New Study Suggests that AI is Capable of Taking Over Managerial Roles in Large-Scale Research Projects

A new study by ESMT Berlin shows that AI is taking over many key roles in a lot of organizations and it feels like AI is capable of doing tasks that require a lot of cooperation, allocation and motivation. There are many studies and researches talking about how AI is taking people’s jobs but now researchers have also found out that AI can work efficiently as a manager too. The researchers from ESMT studied AI not as a regular employee but as a manager. They found out that AI is good at managing tasks such as data collection and data analysis. Algorithm Management (AM) is a good example of it as it is changing the way research projects are being conducted.

The study published in Research Policy says that AI can not only take over the work of human managers, but can also do it way better than them. The researchers studied algorithm management and concluded that AI performs five most important functions that make it a good candidate for managerial positions. These functions included planning, organizing, coordinating, directing and support learning.

The researchers got to know more about the AI capabilities by discussing it with AI developers, project participants and interviewing some organizers. The aim of all of this was to understand how AM works and how much more effective it can be in management functions. It was soon found out that adopting AM can improve research productivity by managing large-scale and complex projects better than humans.

The study also found out that projects that use AM are larger than the projects that do not use AM. These projects also have access to AI tools so this means that AM requires technical infrastructure for the projects to scale. Even though AI can take over managerial roles, it doesn’t mean that roles and positions of managers in the companies are going to end. Managers and human leaders will still be required to make strategies and to perform social tasks that AI is still unable to do.

Image: DIW-Aigen

Read next: Amazon, Microsoft and Google Are the World’s Biggest Cloud Service Providers
by Arooj Ahmed via Digital Information World

Report Shows which Jobs are Going to be in Demand in the Next 5 Years

According to the Global Risks Report 2024, there are a lot of jobs that are going to be in demand in 2024 and the next few years and so. As there is an increase in AI development, many new jobs are going to be available that are related to AI. But that doesn't mean that only AI and technology-related jobs are going to be in demand. By 2027, AI-related jobs are going to increase by 40%. The report also shows some other jobs that are not technology-related but will increase a lot in the coming years.

According to the reports, agricultural equipment operators will see the largest employment gains, and heavy truck and bus drivers are going to be the second most employed jobs. It may seem like a surprise to many people but vocational education teachers are going to have one of the highest employment rates. There is also going to be high employment for mechanics and machinery repairs. Business development professionals, building frames, and related trader workers are also going to be in demand. Jobs for higher education teachers and electrotechnology engineers will also get the highest employment gains.

As the world is progressing, some jobs are growing faster. The number one fastest-growing job in the next five years is going to be an AI machine learning specialist. The number two fastest growing job is going to be sustainability specialists. There will be many companies that will actively seek sustainable specialists for their company. Business intelligence and information technology analysts will have a lot of jobs in 2024. Fintech engineering jobs will also see a rise. Data analysts and scientists are also going to be in demand. As robots are going to be common, robotics engineering jobs will also be a lot. Jobs for agricultural and equipment operators will also see a rise. In conclusion, a lot of jobs in analysis fields will be in high demand. All of these jobs are going to make up more than half of overall jobs in the next 5 years.

Read next: A Study Shows Whether Use of AI Among Students is Good for Brainstorming and Creativity or Not
by Arooj Ahmed via Digital Information World

AI Can Vastly Reduce the Carbon Footprint of Humans, Here's How

The type of environmental impact that AI can end up having is essential to consider because of the fact that this is the sort of thing that could potentially end up hastening the impending climate catastrophe. However, it turns out that AI might actually end up producing lower carbon emissions than humans, thereby making it more sustainable than might have been the case otherwise. AI emits hundreds of times less greenhouse gasses than human beings do when it comes to writing and creating images with all things having been considered and taken into account.

This comes from a study that was published in the journal Scientific Reports and co-authored by faculty at the University of California-Irvine along with the Paul E. Wilson Distinguished Professor of Law at KU, Andrew Torrance. It bears mentioning that this study compared the carbon footprint of AI such as ChatGPT, Bloom AI, and a bunch of others to the amount of carbon emitted by humans performing the exact same tasks.

With all of that having been said and now out of the way, it is important to note that AI emitted anywhere from 130 to 1,500 less global warming causing carbon for each page of text that it generated as compared to humans. As for illustration systems, their carbon footprint was several orders of magnitude lower per image as well, or between 310 or 2,900 less carbon dioxide equivalent.

The way that the carbon footprint of people was calculated involved a consultation with the Energy Budget, which estimates the amount of energy required to perform any given task. Humans use energy to run word processors and other forms of software that are necessary for creative processes, and AI might actually use less resources than them in this regard.

It will be interesting to see where things go from here on out, since AI has often been seen with suspicion when it comes to its overall carbon footprint. This study seems to suggest that it has a lot more to offer in this arena than people tend to give it credit for at this current point in time.

Read next: Top 10 Job Searches Show Amazon Reigns Supreme
by Zia Muhammad via Digital Information World

Even With Many Legal and Regulatory Issues, Apple’s Revenue is Still Expected to Grow a Lot Until 2025

According to CounterPoint Research’s Apple 360 service, one third of Apple's total revenue is going to be captured by Apple’s services segment by 2025. 2025 will also be the year for Apple when the company’s revenue will cross the $100 billion per year mark. As Apple is mostly being supported by its hardware and services segment, the company is also going to reach the $400 billion revenue mark in 2024.

Apple is facing a lot of regulatory and legal issues in the United States and European Union. Research Director, Jeff Fieldhack, says that they are aware that Apple is taking a risky route right now but it is just the start right now. So, there is nothing to worry about in terms of Apple monetization in the iPhone. There are also some hints that Apple is adaptoping AI in its iPhones but no official announcement has been made in these regards. But people can expect to hear something from Apple soon.

Apple’s installed base of nearly 2 billion devices has opened the gates of endless revenue to the company. Many of the brand’s services businesses like Apple Care+, Apple Music, Apple Store and Apple One subscription have contributed a lot in increasing the device base of Apple. Apple One was introduced in 2023 and it has the potential of becoming the biggest contributor in revenue of Apple services. It provides great software and services to users. Moreover, the premium subscribers play an important role in its revenue growth.

Despite all of this, iPhones are still the biggest contributors in Apple’s revenue. They make about half of Apple’s revenue and many of Apple's premium services also play a part in increasing the revenue. The revenue for iPhones is expected to grow this year while there were some volume declines seen in China at the starting of 2024. Many users are now experiencing IOS and as the iPhone's market will grow, Apple’s revenue will also grow.

Read next: YouTube's New Updates Might Be a Game Changer for Live Streaming
by Arooj Ahmed via Digital Information World

Why Is Google's Search Generative Experience Providing Subpar Answers?

Nearly a year ago, Google introduced AI to its search engine in what it dubbed the Search Generative Experience, or SGE for short. However, it bears mentioning that the SGE is known for providing answers that are misleading or false. Initially, this included absurd statements such as eggs being able to melt and even assertions that slavery was a good thing, and research has shown that it continues to hallucinate in this manner to the present day.

For example, when asked about a fictional Chinese restaurant, the AI confidently mentioned that it had extremely long wait times and long lines of people waiting to place orders. What's more is that it provided false citations for the assertions it was making.

With all of that having been said and now out of the way, it is important to note that accounting is yet another thing that SGE seems to be struggling with as well. When asked to calculate financial totals, the AI often ended up spewing bizarre results with all things having been considered and taken into account. In one example, the Washington Post asked the AI to provide Mark Zuckerberg’s net worth, which is just under $170 billion.

In spite of the fact that this is the case, the AI ended up claiming that he earned $46.24 per hour, or $96,169 per year. A further breakdown of the financial totals led to it asserting that he earned over $230 million on a daily basis.

Google has been hard at work trying to fix these issues because of the fact that this is the sort of thing that could potentially end up causing reputational damage to the company. It will be interesting to see where things go from here on out, since Google is still dead set on expanding SGE and making it a core part of the SERP despite all of its pervasive issues. The way it performs at this current point in time could end up determining whether or not Google will be able to keep it going in the near to distant future whilst maintaining the quality of its search results.

Image: DIW-Aigen

Read next: YouTube's New Updates Might Be a Game Changer for Live Streaming
by Zia Muhammad via Digital Information World