Personal finance tips and advice on money and investing to increase your financial intelligence and welfare

Why the Internet Is Your Best Friend When it Comes to Saving Money

The Internet has changed how we live our lives in so many ways. It has revolutionised the way that we communicate with each other, the way that we find information, our entertainment habits, the way we keep updated on the news and so much more. If you know how to use it, the Internet can also be a great tool to save money. The World Wide Web makes it possible to cut your expenses in a lot of ways and save yourself a huge amount of cash.

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Here are a few reasons why the Internet is your best friend and a very valuable resource when saving money:

Online Promotional Codes

Shopping online is a great way to save money, because it allows you to comparison shop between many different stores with the click of a button and online retailers can pass their lower overhead costs on to the customers in the form of cheaper prices. You can make online shopping even cheaper by checking out websites which offer promotional codes. These websites will give you specific code which you can enter in when you are at the retail checkout page. These promotional codes will often give you discounts of up to 70% or more.

Before you buy anything online, do a quick check first to see if you can find any promotional codes for the item which can make it even cheaper.

Use Skype Instead of a Phone

If you have friends and relatives who live far away, you probably spend quite a bit of money every month on phone bills for whenever you have a conversation with them on the phone. Even if it is only a small amount, it can add up over time.

Instead, get them to download the free software Skype, which allows you to make free video and voice calls to each other. This way, you can see each other on the webcam and talk for as long as you want, completely free. The program also lets you make calls to mobile phones and landlines for a rate which is usually a lot cheaper than your normal mobile phone rate.

Save Money on Bank Charges by Banking Online

If you have your bank statement mailed to you every month, your bank is likely charging you for the privilege. Switching over to using the Internet for online banking will not only save you money on bank fees, but it will also be better for the environment! Most banks are developing excellent and easy to use online banking systems which let you perform all of the transactions you might need from the comfort of your own home.

Price Comparison Websites

One of the money saving advantages of the Internet is that it allows you to compare several different offers and find the best deal very quickly and easily, without having to drive or walk around down all afternoon to look at the prices of a specific item in different shops.

There are comparison shopping websites which make this even easier for you, whether you are looking for flights, hotel stays, car insurance or anything else. These comparison websites will search through many other websites based on the criteria you give them and do all of the hard work of gathering the information so that they can show you the best deals.

Online Classifieds

Online classified websites, such as Gumtree, Used.com and Craigslist are becoming much more popular than traditional paper classifieds and are a lot easier to search through and use. You can save a lot of money by using online classifieds, as you will usually be able to buy items that you need second hand for very cheap and sometimes even for free. Also, if you have items that you need to get rid of, you can sell them quickly and easily via the classifieds. 

These are just a few of the ways that the Internet really is your best friend when it comes to saving money.

The Internet can save you money in a lot of ways, from promotional codes to classifieds. Here are some tips for great online sources for saving your hard earned cash.