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When we think of technology, we tend to think of new gadgets that cost thousands of dollars.
While this is true, there are many instances where technology is making life more affordable.
Yes, technology can save you money.
Here are the top ways to use tech to keep more cash in your pocket.
#1. Coupon Websites
Coupon websites are a gift from the digital gods that can help you shave off a substantial chunk of your shopping bill.
Whether it’s groceries, clothes, or electronics, these websites have coupons and discount codes for almost everything.
With a simple click or tap, you can unlock exclusive deals that would have remained hidden from your bargain-seeking eyes.
And with browser extensions, you can save money on the fly, saving you time.
#2. Personal Finance Apps
Technology has transformed how we manage our finances, providing access to personal finance apps that take the financial world by storm.
Thanks to this incredible innovation, we no longer rely on calculators and handwritten budgets to keep our finances in check.
With readily available finance apps, we can track our spending, create budgets, monitor bills, and save money effortlessly.
Some apps even automate budgeting, so there is minimal work involved.
These apps provide analytical insights into our spending habits, alert us of due dates, and offer financial advice, making it easier to stay on top of our finances.
The convenience and accessibility offered by such apps save us time and impact our wallets positively, leaving more money to live the life we always wanted to lead.
There are two ways this tech improves your finances.
The first is if you have a smart home.
You might be driving to the airport and suddenly remember you left the lights on or didn’t lock the door.
With the tap of an app, you can turn off your lights or lock your door, saving you money.
The other way it can save you money is by alerting you about deals.
By knowing where you are, retailers can send notifications to you about sales when you are close to the store.
Of course, this has a dark side of getting you to buy things you don’t need, but if you need something, geofencing is a simple way to lower your costs.
#4. Automating Investing
Investing used to be something only the wealthy could do.
With the rise of technology, that is no longer the case.
Thanks to automated investing platforms, even the average Joe can become an investor with minimal effort and money.
Using these platforms, you can set up a portfolio that automatically invests your money in diversified funds that fit your financial objectives.
All you do is put in the 10 minutes to set up the account. From there, automation takes over.
Simply sit back and watch your money grow over time, all thanks to the power of technology.
#5. Make Money Online
As technology continues to evolve, more and more people are turning to the internet as a means of making money online.
Whether through freelance writing, selling handmade crafts on Etsy, or participating in online surveys, the options for earning a little extra cash from the comfort of your own home are virtually endless.
And the best part? All you need is a computer and an internet connection, which means you can save money on gas, clothing, and other expenses associated with traditional brick-and-mortar jobs.
#6. Automating Saving Money
With automated saving tools, managing your finances has never been easier or more hands-off!
Thanks to software that connects your debit and credit cards with your bank accounts and tracks your expenses, you can effortlessly set aside money each month without thinking about it.
These programs can also provide insights into your spending habits, helping you identify areas where you can cut back to save even more.
Another great feature many banks are offering is rounding up your purchases.
Here, when you spend money, you can have the purchase rounded up to the next whole dollar and put the difference in your savings account.
So if you buy something for $7.25, the bank will round this up to $8 and put $0.75 into your savings account.
#7. Selling Unwanted Items
Technology has truly revolutionized the art of decluttering. Instead of setting up and managing a garage sale, you can now sell your unwanted items online through various apps and websites.
It’s incredible how much money you can make by simply taking photos of your unwanted items, uploading them along with a brief description, and then waiting for the offers to roll in.
Not to mention, it’s also more environmentally friendly to sell items rather than throw them away.
#8. Lowering Monthly Bills
Whether you’re putting your thermostat on a schedule or automating your lighting, technology can do the heavy lifting when it comes to conserving energy and reducing wasted resources.
The possibilities for tech-assisted savings are endless, from apps that monitor your water usage to smart home devices that detect energy vampires.
Some tools even review your spending and suggest canceling subscriptions, and they will even negotiate your monthly bills.
The best one is Rocket Money. It’s a simple way to save serious amounts of cash.
#9. Better Efficiency
In a world where every penny counts, technology swoops in like a superhero to save the day.
It’s not just about having the latest gadgets and gizmos but the revolutionary efficiency they bring to the table.
Technology has given us the power to trim down our utility bills, from energy-saving light bulbs to smart thermostats.
And let’s not forget about the sleek appliances that do more than just cook up a storm.
They also use less water and consume less electricity than their clunky ancestors.
#10. Improved Fuel Mileage
Technology is amazing. Not only does it make our lives easier and more efficient, but it also saves us money.
Take, for instance, the fantastic advancements in fuel mileage technology.
Using modern technology, vehicles are getting more miles to the gallon than ever.
This means you can go further for less, which is excellent news for your wallet.
Whether making a daily commute or going on a road trip, better fuel mileage means you’ll enjoy your journeys without worrying about the cost of filling up.
And with the introduction of hybrid cars and electric vehicles, you can save even more money.
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I have over 15 years experience in the financial services industry and 20 years investing in the stock market. I have both my undergrad and graduate degrees in Finance, and am FINRA Series 65 licensed and have a Certificate in Financial Planning.
Visit my About Me page to learn more about me and why I am your trusted personal finance expert.