Smartphones are gaining a critical majority of users in America and around the world, and that means that app developers are in full swing when it comes to giving us tools that can save us a lot of money. Here’s how that works, with a handful of our favorite examples.
1. Travel reviews
If you’re looking at taking a trip, you’ll want to use travel and review apps such as TripAdvisor and Yelp to look at everything from restaurants, to motels, to tourist attractions. If thousands of people give a low rating to a place, it’s safe to say that it would be a waste of your money. Review sites are the biggest money-saving innovations on the planet right now.
2. Product reviews
Amazon and Google reviews now have millions (perhaps billions) of product evaluations to you make purchasing decisions. If you buy any major product without looking here first, you’re running the risk of buying something that everyone else knows is a piece of junk.
3. Compare prices
When you’re in a store shopping, use a handy UPC scanner app to compare prices of items you’re thinking about purchasing. Many of the comparisons will be served alongside consumer reviews, so you can see both items quickly on your phone. Sometimes it might make sense to pay a premium to have the item today, but in other times, you’ll save a lot of money by ordering online or purchasing from a far cheaper source locally.
4. Compare rates on loans
Interest rates can vary from bank to bank, but the rates charged online can be even lower in many instances. If you find a better rate online, ask your bank to match it. They might just do it. Either way, you win.
5. Compare rates on insurance
Insurance has historically been inflated in price, due to the lack of automation and the fact that you were forced to do all transactions and buying through a local agent. Times have changed, however. Now you can compare the market when it comes to rates and policies even as you’re discussing costs and coverage with your local agents. Often, the coverage online will be far cheaper than the offline sources, and you’ll save a very large amount in the long-term if you’re able to lock in a policy at the lower rates.