Do you ever randomly buy useless things online, only to regret it later? Do you ever blame advancements in tech for your irrational and impulsive buying experience?
If you do, you are not alone.
Most of us think we were more financially responsible before online shopping became the norm. As a member of Gen Z, I can assure you that tech is not the main reason most of us make irrational financial decisions.
Instead, several factors directly affect our potential to save money.
If I use my life as an example, I can assure you that tech has helped me earn and save more money than it has helped me to spend.
With the right use of tech, saving money is easier and simpler. From discount-finding apps to event-based sales and even price comparison sites, the right tools can actually help you save money, even on utility-based items.
If you are currently struggling with money, here are some of the best ways to use your internet to save money.
Use Comparison Sites
Comparison sites and apps are a great way to save money on things that you actually need. The best thing about these apps and sites is that they review all brands while staying neutral. As a user, you can pick the category and then compare the value.
For instance, for choosing an internet connection, you can compare prices, and features, and then pick a package as per your requirements. You can start by checking the availability of the internet service provider in your area.
In my case, Cox Internet stood out as one of the best service providers in my area. Then, I checked the features and packages that were suitable for my needs and requirements. Finally, I was able to choose the basic internet package that helped me save a lot of money.
Leverage Money Management Apps
You receive a text “Salary is credited to your account”. Within a few days, you end up emptying your account and yet you can seem to figure out where you have spent the money.
If this sounds like you, then we have a simple yet effective solution for you – finance management apps.
With these apps, you can track every expenditure, schedule each payment, and spare money for investment. Most of the money management apps also allow third-party digital wallet or bank account integration.
This eventually helps the user track each transaction, keep a record of the money flow, and ensure that the money is not spent on useless things.
Moreover, by using these apps, you can predict your utility base expenditure i.e. rent, grocery, emergency funds, health, transport, etc. Eventually, you can use this data to understand your potential for saving money.
Read Also: The Importance of Knowledge Management in Modern Business Practices
Subscribe To Newsletters
For a long time, I hated newsletters casually dropping in my mailbox. In fact, I used to delete promotional emails right away.
If you do the same, you are missing out on some great deals. Ignoring these emails is making you pay extra for each purchase.
How?
The answer is simple. Brands spend a lot of money on creating email campaigns. These campaigns mainly target potential customers who need to save money while actively looking for household items, clothes, food items, etc.
Newsletters are a great way to stay updated about the new discounts and sale offers on any site. In fact, most websites scrap data with the use of cookies to help each customer find the best deals as per their taste and requirements.
Automate Your Home
Home automation and saving money in the same sentence? Yep, you read it right.
While a home automation project might cost you a little more money, in the long run, you will be able to save a lot of money. From smart lighting to smart air conditioning, most of the home automation systems come fitted with sensors. They help ensure that home appliances only work when the residents are present in the building.
This means that you do not have to worry about running appliances at home, even when you are away. You can switch off appliances through remote access, ensure the security of your home, or turn on lights right before entering your home.
Invest Your Money
Investing money is a hassle. Most youngsters do not understand how it is done and there is a lot of risk involved. In short, the more you know, the more complicated it gets and the more time you have to spend.
However, technology has made it easier and more convenient for everyone to invest money. Now, all thanks to these apps, you can buy anything, and rounding up the purchase amount will be invested on your behalf.
Now, you can stop feeling guilty about the money you spend on the simple joys of life. This means that your morning coffee runs can turn into an investment opportunity.
A common misconception about technology is that it is a waste of money, as most of the things are very expensive. However, the above-mentioned ways will help you understand that with the right use of technology, you can easily save money.
You May Also Like: Invest Smarter, Not Harder: A Guide for Savvy Business Owners
