Money saving technology comes to the rescue of struggling Brits
By Steven Cooke in Debt Management on 8 December 2011
Technology has proven to be an invaluable source of assistance for struggling households recently as money saving applications and services grow in number.
A number of money saving services have become available for struggling households through advances in technology.
The Gadget Show recently reported on the top fifty of these services, stating that websites such as Amazon and Groupon are contributing to the money-saving effort alongside apps such as the AA Parking app and Account Tracker.
Considering that internet shopping has continued to increase in recent years, it is hardly surprising that several popular websites made the list of the top fifty money saving devices.
According to recent research, the amount of money spent on online shopping reached £14.7billion in 2008, a 35% rise from 2007. More recent research has stated that the number of online shoppers for 2010 rose by 1.3%, reaching a figure of 67.3% in total.
Previous forecasts for future growth suggested that in 2012 online sales would account for about 13.8% of spending – a figure of around £44.9billion.
However, despite the large amount of revenue online shopping could be responsible for, it is money saving sites which are proving to be the most popular in the current economic climate.
According to a report in the Daily Mail, research company Neilson found that almost 10million British shoppers had used online vouchers between March 2010 and March 2011.
These sites, such as Groupon and Voucher Cloud, offer individuals the chance to save money on common purchases and are often available for use both in-store and online. Other sites, such as Moneyextra.com provide exclusive money saving codes to redeem at check out across a range of online retailers.
Saving Money to Avoid Debt
Of course, one of the main reasons for saving money in the current climate is to avoid mounting debt. With the cost of living having increased over recent years, many people have found their income is insufficient to cope with these demands.
Using money saving sites and apps to help lower their outgoings is, therefore, one way in which households are attempting to avoid debt.
The ClearStart can give people professional advice on their finances, helping them to address any debt problems which they may have.
