Personal finance is an incredibly essential facet of our lives. Money management takes lots of discipline and not-so-little understanding of finance. If you’re anything like most people, you’ve found yourself spending hard-earned cash on a new gadget when you’d just committed to saving for a home remodel.
The growth and continuous advancements in technology have been a breath of fresh air to many different industries and have created numerous opportunities. In the financial sector, things like e-commerce and online money transactions have revolutionized business. And for geeks who’ve always been excited and invested as far as technology is concerned, this couldn’t have happened at a better time. Here are five ways geeks use technology to save their money.
1. Use savings websites & apps
Although you may feel overwhelmed when making money decisions, you should remember that you aren’t alone. Millions of people all over the world also require some form of help to remain on top of their finances, and that’s why there are so many commendable savings apps in the market. When searching for a savings app, it’s important to choose one with a simple and responsive interface.
But if you tell a geek that you’re going to go shopping at Rue21, the first thing the geek will do is check online for Rue21 coupons. Scouring different retailers’ websites for offers and promotions will enable you to buy different products at affordable prices. By taking complete advantage of technology, you’ll be able to track your spending and plan your expenditure in a more organized and intentional way.
Also, look for apps that point out what you’ve been spending money on, making it easier for you to plan and figure out what you need to prioritize and what you need to cut back on.
2. Installing smart plugs
Aside from software and digital systems, there’s loads of hardware that’s been created to help you put a lid on your spending. One of these is smart plugs. Smart plugs are plugged into electrical outlets, giving you real-time control over how you use electricity in your house.
These plugs will allow you to disconnect certain items from the main electricity line without even having to be in the same room. Using an app on your phone, you can remotely turn off the air conditioner, televisions, and fans in rooms that are not in use.
3. Invest in smart thermostats
Many homes in the United States were built before the 19802s and may still contain old technology. And while manual thermostats still work just fine, they do not give you as much leverage and control as their smart and programmable counterparts.
Smart thermostats learn your heating and cooling habits and can be set to fluctuate the temperature levels in your home as the weather changes during the day. This way, your HVAC system will only work at its maximum when it absolutely needs to, while making sure your home is comfortable and cool. This will help you save on your monthly utility bills.
4. Buy your own coffee machine
A survey of 3,000 Americans in 2018 unearthed that 64% of the respondents drink a cup of coffee each morning. If you love drinking coffee yourself, you probably know how expensive it is to buy from a restaurant chain, especially over a long time.
Buying your own coffee machine will help save these costs. Instead of paying close to 3 dollars for a cup of coffee, you can buy unground coffee beans and brew your own coffee. This will be a very effective improvement on your finances in the long run.
5. Replace your old appliances
We’ve all had a rickety old washing machine or dishwasher in our homes at some point. Although it may seem a bit expensive to replace your old appliances with new ones, it may actually prove to be much cheaper when you use them in the long run. If you have an old dishwasher, for example, it may take a long time to power through one cycle- using up lots of water and electricity in the process.
Swapping that old refrigerator or oven for a newer model that consumes energy more efficiently will have drastic improvements on your monthly expenditure.