New technology products are released all the time, and with them are any number of new and interesting ways to help you save money.
Now obviously getting the latest and greatest of all the new gadgets that come to market is going to be a fast way to the poor house, but there are quite a few technology advancements over the last decade or so that have really enabled everyday people to be able to make better use of their money.
Internet Telephony (Skype)
One of the major ways that technology has benefited the general population, is through the use of voice over IP. Services like Skype allow people to speak over the internet to anywhere in the world for free. Now if you have relatives that life in distant locations, this can help you to stay in contact with them without needing to worry about crazy international call rates on your phone.
Smartphones are really a pretty massive technology to have entered into our lives over the last decade or so. They now allow people to be able to communicate on the go, access things over the internet, be used as a directional device through the use of maps – and that is just a few of the many uses they have.
Two of the big ways in which smartphones have helped me personally save / track and even make money are below.
It might not seem like a big deal, but having an application on my mobile that allows me to track every single expense that I have, as I have them, is one of the biggest helps in managing my money I have. I don’t have to try and remember where I spent money anymore, I don’t need to keep every single receipt – I can just add the expense as soon as it happens and then at the end of the month I know that I have captured everything without missing anything.
Share Trading via Mobile Devices
I am a fairly active share trader, and having my internet enabled mobile phone enables me to be able to buy and sell shares wherever I want to, regardless of where I am. This both helps me get out of the stock quickly if it is going down, but it also allows me to buy a stock quickly if it is about to go up. Both of these things have saved/made me quite a lot of money that just wouldn’t be possible without a smart phone.
I know that the internet has profoundly changed the world in which we live in, and one of those ways is by enabling people to source entertainment far more easily that before. As an example, I can now stream a movie or a TV show for a couple of dollars, whereas previously I would have had to pay for an expensive cable TV connection if I wanted to watch certain TV shows.
When I was younger many of my friends used to spend quite a lot of money going to a local computer LAN place so that they could play video games against each other. It wasn’t all that expensive (like $5-$10 an hour), but it was time consuming going to the location and it also wasn’t free.
Nowadays people can just log into their computer at home and start gaming immediately with not only their friends, but almost anyone on the planet – and all it costs is an internet connection, which most families now have almost as a necessity.
Another great thing that the internet has brought us, is the ability for people to learn for free whenever we like, from the comfort of our homes. There are any number of ways you can learn new information, whether it be via sites like Wikipedia, or Open Universities where the course content is available 100% free of charge.
This to me is possibly the greatest use of technology in our lives and it enables everyday people to research any topic they want and gather information immediately. This allow people to learn about almost any topic you can think of, without having to spend any money, and that is pretty powerful if you ask me.