Consumer spending levels in the UK reached an all-time high during the fourth quarter of 2015, and this is considered by many to be a key driver of economic growth. There remain concerns about the sustainability of current spending levels, however, especially with national earnings remaining relatively stagnant and the cost of living continuing to spiral at a frightening rate.
How being tech Savvy can help you to save money
With this in mind, consumers can help themselves in the long-term by creating innovative and purposeful measures that enable them to save their hard-earned money. Technology can play a huge role in this in the modern age, as contemporary innovations are often designed to save both time and money during the course of everyday life. For example: –
Use contemporary communication networks
Modern innovations are moving away from fixed-cost, subscription models and inching towards the provision of flexible solutions to user needs. Take telecommunications, for example, which have historically been operated by fixed-cost telephone systems that connect ISDN lines nationwide. This type of system drives inflated bills and landline costs, however, and is extremely outdated when compared to VoIP packages such as Skype and virtual PBX technology. Such technology can reduce the cost of voice calls by up 70%, while enabling business users to create virtual office extensions on through their smartphone.
Drive energy efficiency within the home
As a home-owner (or a business-owner for that matter), the cost of operating a functional property can be substantial over the course of the typical year. Technology helps you to reduce these costs, however, with energy efficiency being a key point of focus. By investing in LED lighting, for example, it is possible to reduce energy consumption and drive annual financial savings of between 30% and 40%. You can also install smart technology hubs to manage these fittings, providing you with remote access to your home appliances, heating and lighting.
Mange your files Online with tools such as Dropbox
Imagine you operate a work-at-home office, or simply like to organise your schedule with written notes and paperwork. In these instances, you will have a huge amount of paper to store in your home, and this often requires investment in physical units and multipurpose furniture.
This cost can be negated by storing your files online, with resources such as Dropbox providing considerable internal memory and Cloud-based storage. The Dropbox service can also be used to share files and documents remotely, saving considerable amounts of time and enabling you to commit to generating income during the course of your working day.