How Technology Can Help You Save Money

by Justin on August 28, 2017

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It can be tempting to look at many of today’s latest technology tools and judge them as little more than ways to wasting money. While there are some tech expenses that certainly can’t help your financial situation, there’s also no denying that an appropriate approach to technology use can help you tap into important savings.

This is easily seen in areas such as construction and manufacturing, where technologies like a complete line of equipment for soil testing allow businesses to work more efficiently and get better results than ever before.

While you might not necessarily be running a business, many of the improved technologies in today’s world can help you improve your financial situation. Here are a few ways this can happen.

1-   Telecommuting

Everyone needs a job to earn money in the first place, but for many people, simply getting to and from work can be expensive and time-consuming. Just think of the many costs associated with owning a vehicle. There are the monthly payments you need to make for the car itself, but you also need to pay for gas, insurance, regular maintenance, and the occasional repair.

While some individuals find that they can save money using public transportation, this isn’t always the best option. Public transportation may not be fully connected to where you live, and more often than not, traveling by bus or train takes much longer than using your own personal vehicle.

Rather than spending countless hours in traffic and investing thousands of dollars into their vehicle each year, more and more professionals are turning to telecommuting. By using a computer to work from a home office, you can avoid many of the expenses associated with commuting to your job. Better yet, you’ll also have more time available to work on side projects that can help you earn even more! If your employer allows for telecommuting, this technological wonder can have a huge impact on your finances.

2-   Money Management Apps

While many people only use their phone to play the latest version of Angry Birds, there are many apps that can help you take control of your finances. There are two types of apps in particular that can help you save money.

The first are money management apps. These smartphone tools allow you to establish a budget and carefully track your income and expenses. Some apps even help you set goals to lower your spending so you can start adding more to your savings account. With helpful tips, notifications, and other features, these tools can train you to better manage your budget.

Another money-saving option are the apps that help you find low prices and discounts on both common expenses and big-ticket items. There are apps that can help you find the cheapest gas station in your area as well as those that alert you to flight discounts. Saving a few hundred dollars on your next flight is well worth adding another app to your phone!

3-   The Smart Home

New smart home technology has become especially popular in recent years, enabling homeowners to create a “connected” household that ultimately helps them save money.

One of the best examples of this is the smart thermostat. While you can still set your standard temperature preferences as you would with a traditional home thermostat, these smart home tools take things a step further. Advanced programming options allow the thermostat to automatically adjust your home temperature when nobody is home. A smart thermostat can even connect with your smartphone so that it can adjust your home temperature before you get home from work!

In addition to these cloud-connected thermostats, smart lighting, sprinkler systems, and other technologies are also available. By connecting with online data, these systems will help your family conserve electricity, gas, and water, resulting in long-term utility savings.

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