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How Technology Can Help You Save Money

by Damaris Wataka
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With the ever-changing economic times, saving money is becoming more necessary. The COVID 19 pandemic showed us that it is always a good idea to have some money put aside for a rainy day. However, it should not take a pandemic for you to learn the art of saving. Piggy banks and bank accounts remain the most commonly used methods of saving money. However, with technology, other faster and easier techniques arose. Here are four ways technology can help you save money.

Money-saving apps

With technology came a wave of endless human creativity. You can get an app for virtually anything these days. Whether you want to learn a new language, a musical instrument, or the simple art of saving money, there is a smart application that can help and serve you. In Kenya, some of these apps include the KCB cash app, MCOOPCASH app, and the MPESA app, which is available to all Safaricom customers. These apps have features that allow you save money in whatever amounts you want and for as long as you do want. In fact, some apps have a locked savings account, which restricts you from making any withdrawals before the agreed time. With the help of these apps, you can save money for future projects such as travel, investments, school, or recreation.

Access to online money saving resources

Not everyone has the discipline or expertise of saving money, even with the help of the above-mentioned apps. Some of us need as much information and help as we can get. That means getting e-books on money saving, listening to podcasts or tutorials online, and reading blogs written by financial experts. Reading and listening to the tips and advice gives you a better plan and structure to follow. It also helps you find a method that works specifically for you, which eventually makes saving money more efficient. None of these things would be possible without technology.

Getting news on deals and promos

When time comes for you to use the saved money to purchase what you want, you can use your phone or computer to get word of available deals, sales, and promotions. This way, you can get what you needed at a much lower price than you anticipated. You can then use the saved cash to get something extra or as a start fund for your next saving project. Some of the ways of getting said news or notifications include following traders and merchants on social media platforms and subscribing to online shop newsletters.

Getting all in one

It is no secret that technology carries many disadvantages as it does benefits. Many people for example do not support the use of smart phones because they believe smart phones disconnect people. I however believe that how you use the smart phone will determine whether you profit or suffer loss from it. A smart phone is an all in one gadget that allows us to save a lot of money, and space thanks to its compact nature. Within one gadget, you get a radio, watch, calendar, planner, entertainment, banking services, etc. This means saving money because you no longer need to purchase all these things separately. With just one buy, you get access to various other things, thus reducing your expenses.

Bottom line

If you want to start saving money, consider using the help of technology to make your plans more achievable. You will get both the knowledge and discipline of saving money, which you can use for a lifetime. Moreover, you can use the skills to help someone else.

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