Technology can be both a friend and an enemy. But if you use it to save money, it can definitely become your friend. From shopping to energy conservation, technology can help you keep more money in your wallet.
Using technology is simple, usually requiring just a smartphone. Here are a few ways to save money:
With these apps, there’s no need to clip paper coupons anymore; technology in the palm of your hand can bring you cash back and discounts. If you have a smartphone, just download an app to enjoy the benefits.
Rakuten, initially providing discounts for physical stores, has now expanded to offer cashback and discounts for both physical stores, hotels, and online shopping. It is available for iPhone, Android, as well as website and browser extensions. Cashback, coupons, and discounts can be enjoyed at over 3,500 stores.
Another cashback app is Upside, offering cashback at grocery stores, restaurants, and gas stations. It covers over 30,000 merchants, with the highest cashback of 25 cents per gallon at gas stations, 45% at restaurants, and 30% at grocery stores. It is also compatible with iPhone and Android.
If you often drive, you’re likely always searching for the cheapest gas station. GasBuddy is an app that allows you to view the lowest gas prices in town. You can search by zip code for the best gas prices and even filter by fuel type, such as regular gas, mid-grade gas, premium gas, or diesel.
GasBuddy also provides a map showing where gas prices are the highest. It comes with a trip cost calculator to help you plan your fuel budget. GasBuddy is also available for iPhone and Android.
Chrome extensions can customize your browser, automate tasks, and add features that standard browsers lack. Installing Chrome extensions can enhance your online shopping experience.
One of the most popular Chrome extensions is Honey. Affiliated with PayPal, it searches for coupons on over 30,000 websites to help you save money. Honey automatically finds the best prices for you when shopping online and applies promo codes.
It also compares prices from highly rated sellers on Amazon, helping you find the lowest price. Due to fluctuating Amazon prices, Honey allows you to track items to avoid overpaying.
Capital One Shopping is another popular Chrome extension with 1.5 million users. Similar to Honey, it automatically checks prices from other sellers, including sales tax and shipping costs. If a better deal is found, you’ll receive a notification.
Capital One Shopping also searches for and applies coupons to your shopping. The difference lies in its cashback program. When shopping at stores like Walmart, Neiman Marcus, and Macy’s, you can earn cashback.
Using technology can help you calculate the estimated monthly mortgage payments. An online mortgage calculator can compare different loan options and help you understand the affordability of a home within your budget.
Additionally, you can use this tool to factor in annual property taxes, yearly home insurance, and monthly HOA fees.
While it’s an estimate, it serves as a good planning tool when considering a mortgage.
Smart home devices optimize various functions in your home. When it comes to reducing utility bills, they are the latest in technological advancements. Apart from energy-saving, smart home devices offer remote control via apps or voice commands for convenience.
Easy-to-install smart home devices include:
Smart plugs and power strips: to monitor and control the energy consumption of connected devices.
Smart thermostats: automatically adjust home temperature according to your needs.
Smart lighting: for dimming and motion control to reduce energy consumption.
Smart water heaters: heat only when needed to reduce standby energy consumption.
Smart home devices reduce your energy consumption, thus lowering your utility bills. For instance, according to BKV Energy, smart lighting can reduce power usage by 75% compared to traditional bulbs.
Smart home devices ultimately offset their costs with the savings they generate.
A smart thermostat can save 10%-15% on heating and cooling costs. You can find one for up to $200 on Amazon and save an average of $100 yearly. Depending on the thermostat’s price, you typically recoup the cost within one to two years.
Smart light bulbs cost up to $13 each on Amazon. They can save $20-$50 annually on average. You can recover the cost in the first year.
Whether it’s smart light bulbs or online shopping, you can save money with technology. Various apps can help you get discounts. If you want to save on utility bills, consider using smart home devices. These tools are mostly cost-effective, some even free.
This is just an overview of the benefits of utilizing technology to save money on various aspects of your life.