When it comes to saving money; knowledge is power. If you’re not tracking your spending or consumption, then it is impossible to measure and reduce it. Fortunately, there a range of nifty gadgets that help track spending or consumption and give you the information to save you money. Other than that it is simple gadgets that will make the biggest difference to your savings. Here are some gadgets that will save you money.
Regardless of how you do it, recording your spending is an essential part of reducing your costs. One of the easiest ways is with a phone app, like Mint, Monefy or Expensify. They give you the ability to track your spending on the go. All versions will produce in-app graphs and charts showing you how much you spend on lattes each month, but paid version also allow exporting to spreadsheets.
Know the cost
It’s hard to know if you’re getting a good deal when you at the shops. Using an app such as Invisible Hand or SlickDeals gives you real time and historical prices for most items. This is obviously an invaluable tool when it comes to haggling. Most stores, however, will price match a competitor’s advertised price so check before you buy to save money.
Down size your ride
Cars are expensive. They consume fuel, need specialised maintenance, and must be insured and registered. Worst of all they depreciate like crazy. If you are a single person, or have a second car just for getting to and from work, then why not consider a scooter instead. Asian made scooters are inexpensive, cost next to nothing to register, insure and maintain, and will cost you less than a hamburger to fill up.
Smart or ‘green’ power boards
These power boards automatically switch off when the devices plugged into them aren’t drawing ‘operation’ levels of energy, preventing power leakage. You don’t need them for everything, but for things like your home entertainment system they are a good of reducing energy consumption and costs.
A standard shower head lets out roughly 15L a minute so it’s no surprise that showers account for 25% of the average Australian household water usage. This can be dramatically reduced by using a shower timer and changing to a water efficient shower head, which will save you money.
Cook under pressure
Using a pressure cooker will greater reduce cooking time, in some instances by up to 75%. Pressure cookers are particularly handy for cooking tough cuts of meat and legumes, which also generally make very economical meals.
As with anything, consider the cost vs reward of new gadgets before buying them. Simple gadgets can have just as much impact as ‘advanced’ technology. If you are looking to save money, then try using some of the gadgets listed here.