Technology is well known for making things easier for consumers, especially spending money. In a recent poll, more than half of U.S. adults say that technology has made it easier to spend money. Research also showed that Americans spend an average of $166 a month on cable TV, Internet access, mobile phone service and other digital subscriptions. Although technology has its benefits, it’s important for consumers to budget wisely and make sure those benefits outweigh the costs. Here are several tips to help you manage your digital expenses:
Set a budget. Look at how your digital spending compares with your overall spending and determine how much you’re willing to spend each month.
Set up an account. Set up a checking account strictly for your digital purchases to help keep track of spending. You can also sign up for email or text message alerts to let you know when you’re getting near your limit.
Evaluate. Regularly review and evaluate your spending. Doing so will help you determine if the services justify the expenses.
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