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smart technology - banking

Smart Technology That Can Save You Money

Today we have a guest post from CodeWithMike.com he is going to tell us all about smart technology and how this can save you money!

Most of us love tech and all of us have used at least one form of tech in our lifetimes. What If I told you that you could actually save some money by using smart technology? Well, you can!

In this article, I list tech gadgets that use smart technology that can save you money. Most of them will pay for themselves over time and save you money in the long term. Some of them, such as mobile apps won’t cost you a thing!

I guess it’s true that you have to speculate to accumulate. With a little upfront cost, you can get a good return on your investment in the way of saving on your bills over the next couple of years.

6 smart technologies that can save you money

What are we going to talk about in this article?

  • Smart lighting in the home
  • Heat your home with a smart thermostat
  • Suggested reading
  • Apps to control your cash
  • Smart plugs
  • Switch energy provider
  • Summary
smart technology - lighting

Smart lighting in the home

By switching to smart devices to light your home you can definitely save money. These will probably sound quite expensive but hear me out. The smart lights will cost you around £20 for two bulbs. This pricing applies to brands in the budget range. A quick search online and you could get some that cost even less.

Turning the lights off when a room is not in use can save you £13 per year. It gets better. If you currently use traditional lighting and you switch to smart lights (as long as they are LED light bulbs) you save up to £100 per year.

The only caveat is that some smart lights require a smart hub so the investment can take a while to repay itself if a hub is required.

Another great feature is security. Set them to automatically come on in the evenings when you are away to give the appearance that somebody is home.

Smart Technology – Suggested Reading

Interested in tech? You can get some fantastic deals via Amazon. Check out this article to find out when the next amazon prime day will be. Amazon prime day is a yearly discount event that can save you a fortune on lots of technology.

smart technology - apps

Heat your home with a smart thermostat

Heating your home on a timer can be achieved in one of two ways. With the clunky thermostat, you currently have that came with your boiler. Or, you can purchase a smart thermostat. I’d opt for the second one every time. I’ll tell you why.

Purchasing a smart thermostat will set you back around £199.99 but it’s a wise move. Most smart thermostats ‘learn’ your routine and will turn the heating on and off independently after a short period of learning. They do far more than just being a fancy heating timer.

The smart thermostat is perfect for people who are tech-savvy. A popular smart thermostat brand Tado, say that their smart thermostat could save you over 30% on your heating bills. There is a but, only a small one.

If you set your heating to maintain a constant temperature throughout the day it’ll save you money. This is because as it gets to know your routine it’ll automatically switch the heating off when you aren’t there.

As long as you fit this description, it should pay for itself within a year. After that year, it’s all savings on your bills.

APPS to control your cash

Plum

Now here’s where it gets interesting. Smartphone apps that’ll save you money? Yep, that’s right. Apps such as Plum (which actually live inside Facebook’s messenger)  make it really easy to start to build up some savings. It’s automatic and you’ll barely notice it.

The idea is simple:

  1. Link your bank account.
  2. Plum automatically moves small amounts to your savings account.
  3. Grow your money by making small investments.

For more information about Plum, you can visit their website. It’s free!

smart technology - banking

Monzo Bank

Not your traditional bank. Monzo is an APP based bank and you can be set up and ready to go in minutes. The great thing about it is that you can track your spending and see exactly where your money is going, you’ll probably be really surprised as it groups it together. When I saw how much I’ve actually spent on eating out I was shocked, to say the least.

It helps you save money by using ‘pots’. These are separate pots of money you can lock shut for a period of time and you can only access them once the date you set has passed.

I registered for Monzo last year only because they gave you £5 if you used a friends referral code! So if you register and your mates do to make sure you send them your referral code to earn a free £5er.

You can find more information about Monzo bank if you visit their website.

Smart Plugs

Did you know that leaving your TV on can cost you up to £40 per year! Then there’s your Sky box, gaming consoles, washing machines, clothes dryers. All of it adds up. The average house spends between £50 – £86 per year on leaving electrical appliances switched on and not in use.

Get yourself some smart plugs and save plenty of cash. These plugs are linked to an app and you can set timers on them to turn off your devices whilst you are out! They start at around £10 and will pay for themselves over the course of a year.

smart technology - switch energy provider

Switch Energy Supplier

Now you’ll probably say, this doesn’t sound like tech to me! Bare with me. By using a website called LookAfterMyBills.com you can automatically switch your energy provider to a cheaper tariff if one becomes available.

The site came to prominence after featuring on BBC’s Dragons Den. It’s one of the easiest ways you can save money and it’s very quick! Registration takes just 30 seconds and you never have to worry about it again!

The best part about it, it’s completely free.

Summary

I really hope you’ll save some money with these ideas. I understand there is a spend involved with some of these but they are worth it in the long run.

I’ve personally used most of these and I’ve saved quite a bit. The best money-saving tech I’ve used is my own bank accounts app.

Halifax has a feature where it rounds up your payments and moves the ‘spare change’ into a savings account. For example, if your weekly shop comes to £48.00 it’ll transfer £2.00 into your savings account. In only a few short months I’ve saved an extra £50.00. You should check to see what your bank offers.

Have you used any form of smart technology that we have missed in this article? We would love to hear your comments below, or please get in contact!

Be sure to check out Mike and his fantastic website below!


About The Author:
Mike is the Editor of CodeWithMike.com, a code tech and gaming blog. For more tech-related articles check us out.

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