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How Technology Can Help You Save Money

How Technology Can Help You Save Money. While technology can do a lot to improve your life, it may not always save you money, at least not directly.

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How Technology Can Help You Save Money

While technology can do a lot to improve your life, it may not always save you money, at least not directly. Furthermore, if you’re like a lot of people, you might be more tech-savvy than you are finance-savvy. The good news is that there are a lot of ways technology can save you money that wasn’t available fifteen, ten, or even five years ago.

The need for constant innovation in the industry means that there are always exciting apps, software, and products being released, each improving on the previous generation.

These innovations might not be as exciting as the latest iteration of your favorite smartphone model, a new game release, or a leap ahead in home theater technology, but saving money can be pretty exciting too—especially when it leaves you with more disposable income for everything else.

1. Easier Student Loan Refinancing

Easier Student Loan Refinancing-How Technology Can Help You Save Money

It’s no secret that student loan debts are growing every year, and for many people, monthly payments are a not-insignificant part of their income.

It can be particularly frustrating if a big part of what you’re paying interests. Even if you’ve considered refinancing in the past, it may have all felt just too overwhelming. The good news is that using online platforms to see what kind of interest rates might be available to you has made it much more comfortable.

There are several tools and lenders online that may be able to provide better rates and shorten your repayment period. Pay attention to whether companies will give you an estimate of what your price might be without requiring a hard credit check since too many of these can affect your credit score.

2. Lower Your Energy Bills

For gadget lovers, smart homes are irresistible, and let’s face it; there’s nothing that gives you that living-in-the-future feeling quite like telling your television what to show you or having your refrigerator make you a grocery list. That’s not all they can do, though.

Smart homes are also great for the financially frugal. You can significantly reduce your energy with thermostats that raise or lower temperatures based on whether or not you are in the room. Your appliances and even your lawn watering system can operate to precision, costing not a cent more of your money than necessary by calculating just how much water, energy, or other resources might be needed to keep things running smoothly.

3. Manage Your Budget

Perhaps less exciting than your smart home but infinitely practical are the many budgeting apps available. Plenty of people manage hard-earned money by throwing some at a retirement plan and spending the rest until they run out, and the next paycheck comes around.

This can work fine as long as you never have any emergencies, and you don’t have to save up for anything, but at some point, you’re going to want to get more control of your finances.

The significant number of apps and other tools available means there is something for almost everyone, with products that offer more or less automation and help as desired and some that can even gamify smart budgeting for you. Think about your goals and what motivates you to choose the best product for your needs.

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Upgrades That Will Help Your Business Thrive

Once you’ve identified your goals and how to attain them, you can then grow your business in specific areas according to what you want to achieve.  The following 13 upgrades cover common areas of business that typically need developing:

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Upgrades That Will Help Your Business Thrive

Continuous improvement should be the primary goal of any business.  While it takes time and effort and some financial outlay, it’s crucial to continue growing and striving toward becoming the leader in your field.

This guide offers 13 ideas to help your business grow, increase your customer base, improve your productivity and boost your bottom line.

Start With A Solid Foundation

Before you commit to growth you should ensure your business is built on solid ground.  Here are some tips to help you begin:

Know your business – the use of tools such as benchmarking, market research and trend analysis will help you get a better picture of the factors affecting your business.

Take charge of your finances Make a commitment to understanding your daily, weekly, and monthly figures. Unless you have a dedicated accountant, you need to have a thorough understanding of your financial situation.

Prioritize your goals – identify those business goals which can be achieved relatively quickly and those which will require more time and financial investment. Make sure the goals you set are relevant and can be achieved in a realistic timeframe.

Develop a plan – once you’ve identified your goals, you will need to develop strategies to realize them and the best means of implementing those strategies.

Make your results measurable – work out how you are going to measure your results.  You may want to introduce devices such as a point system or desired percentage increase.

13 Ways To Upgrade Your Business

Once you’ve identified your goals and how to attain them, you can then grow your business in specific areas according to what you want to achieve.  The following 13 upgrades cover common areas of business that typically need developing:

Include reviews – today’s consumers place great value on the opinions of their peers when it comes to buying products. Upgrading your website to include customer reviews will help to increase sales and boost customer confidence. Be sure to include both good and bad reviews if you want to be taken seriously.

Upgrade your internet an upgrade to FTTP (fiber to the premises) now will pay big dividends for your business down the line and it doesn’t have to cost you anything.  Qualifying businesses connecting to high-speed NBN plans can enjoy a $0 upfront cost.

Computer Monitor and Other Remote Work Must-Haves

Introduce automation – there is a multitude of software and applications designed to reduce labor costs and increase productivity. Many are inexpensive and can free up small business owners, allowing them to focus more on growing their core business.

Increase your social media presence – rather than just a Facebook page and a presence on Instagram and Twitter, you should look at other forms of customer interaction such as articles, sponsorship, blogs, and webinars.

Start networking – as well as an online presence, you need to get out there more and attend industry-related events such as expos and seminars.  This is, not only to network with others in your field but also to forge new contacts with like-minded businesses, with cross-promotion in mind.

Create a rewards program – think of ways to reward your existing customers to maintain their loyalty and incentivize them to buy from you again.  These could include early access to specials and exclusive offers not available to the general public.

Create an email list – email addresses of existing customers are a valuable resource you should be taking full advantage of.  Send those on your mailing list regular reminders of what you have to offer, but make sure it’s valuable content rather than what could be perceived as spam.

Ask for feedback – another valuable resource is your customers’ opinions.  Ask them what they think of your products and then use this feedback to improve your product line and customer service.

Streamline your business – identify which products aren’t selling, which employees aren’t performing and any other areas that may be holding you back.  Make changes and be ruthless on behalf of your business.

Reduce overheads – look at ways to cut costs within your business such as transitioning to a remote workforce or outsourcing business processes such as payroll, HR, and bookkeeping.

Invest in your people – good staff morale translates into good customer service. Provide your employees additional training, advancement opportunities, and a fair wage to ensure a healthy company culture.

Improve your credentials – reduce your carbon footprint, introduce sustainable processes and practice corporate responsibility in order to retain and grow your customer base.

Increase cybersecurity upgrade your cybersecurity systems to make sure you are protected from the latest threats from hackers, malware, etc.  This is particularly important if you have a remote workforce.

Roughly half of all small businesses don’t make it past their fifth year of operation, so continuous improvement needs to be a priority from day one. Adopting just a few of the measures suggested here should help keep your business on trend, competitive, and above all, profitable.

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