No one claims that the internet is perfect, but if you were to weigh up all the pros and cons, you’d also say that it’s done more good for the world than harm. It’s impossible to understate just how transformative the internet has been for communication, education, healthcare, entertainment, and everything else.
And while the internet — and the devices you use to connect to the web — aren’t (usually) free, they’re very much worth the money. That’s because of the positive impact that the internet can have on your financial landscape.
In this blog, we’ll run through just some of how the internet can boost your bank balance.
Working From Home
The shift to working from home has done a lot of good for workers. After all, who doesn’t want to work in their pajamas and avoid those awkward water cooler chats?
Even if you have to be in the office sometimes, having the ability to work from home can be highly advantageous. Plus, it can have a positive impact on your finances, especially if your employers pay for your internet connection and devices.
When you work from home, you can avoid the costs associated with traveling to your workplace, spending money on lunch and coffee and the other expenses that stack up when you’re out and about in the city.
Building a Side Hustle
The internet has also allowed people to start a side hustle that can bring in additional money in a way that just wouldn’t have been feasible in the pre-digital era.
And the best part? Most of those side hustles can be started with limited — or even no — money. There’s no shortage of side hustle ideas. You can start an affiliate marketing website, sell feet pics, become a virtual assistant, or manage a brand’s social media, to name just a few of the most popular options.
Most people have modest ambitions for the amount of money they’ll earn this way, but some people find that their side hustles are so successful that they become their primary source of income.
Imagine you wanted to buy, say, a microwave in 1985. Your option would be: go to a store that sells microwaves and buy it, or don’t. You could visit a few stores if you lived in a city, but that’d take time, and there probably wouldn’t be a significant difference in the cost of the microwave anyway.
Fast forward to 2023, and if you want to buy a microwave, you can find hundreds (if not thousands) available for you to purchase online, allowing you to find one that’s in your budget range. There are deals, offers, and discounts to be found for anything and everything online, and all it takes is a few clicks of a button.
Online Financial Management
You can’t expect to have healthy finances if you’re not managing them. You need to know how much money you have, and what you’re spending, and move money into your savings account. All those things were possible in the past, but you’d most likely need to visit a branch to handle them.
Today, you can do it all through your phone, using your bank’s app. This is important because it allows you to manage your finances more frequently, which helps to flag potential problems as soon as possible.
We mentioned earlier how the internet and your devices cost money. But really, what you’re really doing is grouping many other costs into one handy package.
Without the internet, you’d need to pay for phone calls, entertainment, a camera, a calculator (well, maybe), and a billion other things.
With your smartphone and laptop, you’ll have all of those things right in front of you whenever you need them. This doesn’t just save money, either, but allows you to have a more spacious home and be in greater control of how you spend your money.
Finally, the web allows you to find new financial opportunities. For instance, if you don’t like your current job or want to earn more money, you can look for job postings, which is much easier to do online than it was in the old days, which involved looking through the job section of the newspaper.
With the internet, you can also look for new opportunities that you may never have considered before, such as investing in stocks. There’s a wealth of information out there on how to invest, and it’s all freely available.