How to Utilize Technology to Save Money

Posted in Technology3 years ago • Written by SantoshNo Comments

Tesla recently announced its latest product, the Powerwall, which is a device that allows a homeowner to store power when it is least expensive and use it during peak hours during the day. While the Powerwall is out of most people’s budgets, it demonstrates the great power that technology has to save the user money.

Even if you can’t afford a Powerwall, there are plenty of ways to look at how technology can save someone money, such as solar technology, alternatively powered vehicles, and budgeting and service apps.

Solar Powered Savings

If you can’t quite afford a Tesla Powerwall but you still want to save money on energy costs, solar technology is becoming very widespread, with more options for the beginner. With only a solar panel or two, the user can save money on their power bill. These are savings that add up over time. In fact, many solar panels end up paying for themselves in less than a year. The good news is that the latest panels last more than a decade, so there will be plenty of time to enjoy your savings. Many power companies will credit your electric account with the additional energy that you store.

Electric and Alternatively Powered Cars

With tax credits and an enormous windfall of electric cars hitting the secondary market, now can be a great time to invest in an alternatively powered vehicle. You can also look into hybrids and even vegetable oil-fueled cars. Saving money on gas is particularly useful if you have a far drive for work, as costs can really add up. Long-range commuters would benefit most from making the switch to an alternative powered car.

Stay on Track with Budgeting Apps

The most important thing that anyone can do to save money is to adhere to a strict budget. Budgeting can seem like a pain, but this is another area where technology has helped to make life a little easier. Budgeting apps are a great way to keep track of daily expenditures, and being forced to account for every dollar has a strong effect on the person keeping the budget. If you are spending $50 a month on something you don’t need, you will certainly notice it when you’re entering your purchases in the app.

Bundle Services for Even More Savings

Another place where there is plenty of money to be saved is on cable and Internet service. You can usually save when bundling Internet and Direct TV, and this gives the user the combination of outstanding choice and service at a great price. It is something to look into if you are interested in a cable and Internet package.

Also, many services include free apps that allow you to take your service with you on your mobile devices. The more use you get out of your service, the less expensive it is on a cost-per-use basis. Plus, it certainly makes your train or bus ride more exciting when you can watch your favorite shows on your smartphone.

When utilized correctly, technology can save you money. If you have money for the initial investment, tech such as the Powerwall, which stores cheap electricity for use at peak times, can save you money without you having to change your habits. You could also purchase an electric or oil-fueled vehicle in order to save money at the pump. Moreover, anyone can download and utilize apps and bundling to conserve their hard-earned cash.

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