You might think of the internet as something that encourages you to spend more money rather than saving it. Easy shopping opportunities at your fingertips 24/7, what seems like an endless amount of streaming services and subscriptions to tempt you, and even more sophisticated games can all combine to drain your bank account faster than you can virtually travel around the world using Google Earth. However, there are also many ways to save money using the internet.
Finding Cheaper Rates
From clothes to vacation to insurance and more, there are few expenses you can’t save money on online. Whether you use comparison engines, apps that allow you to scan a product and check for cheaper prices elsewhere or good old-fashioned research, you can usually find the balance of the best product or service at the best price. When it comes to your finances, if you have student loans that you are working on paying off, have you considered refinancing? You can research online to find a private lender that will allow you to refinance them and get lower monthly payments. You may be able to this with other loans as well.
Get it For Free
Your neighborhood or community probably has an email list or social media site where people are eager to give away many things for a low price, a trade or for free. Often, they simply want someone to take it off their hands. Keep an eye out for any items you are looking for, from furniture to bicycles to toys and more.
Newsletters and Loyalty Programs
Where your parents might have clipped coupons, you should sign up for the newsletters of retailers you shop at regularly and join loyalty programs. You can get big savings this way, and some retailers also allow you to stack codes, meaning that you can apply multiple discounts and coupons to a single purchase. You can quickly lose what you save on any discounts with expensive shipping, so be sure that the retailer offers free or low-cost shipping. If you are part of a loyalty program, many offers will be exclusively for members or will be offered to members first. You should also keep an eye out for sales. There is rarely a reason to pay full price for something unless for some reason you need it immediately.
You might be surprised at how much you can save when you begin paying attention to your spending. Budgeting websites, software and apps can help you save a great deal of money by showing you what you are wasting too much money on, tracking your spending and letting you know when you are near your spending limit in certain categories. You can find resources online that can help you calculate how long it will take you to pay off debt and set savings goals. These resources can also help you determine such things as whether the financially sound choice would be to rent or buy your home or whether you should put more money into savings or use it to pay off loans and other debts.