With the internet in the palm of your hand, it is easy to understand how tempting it is to scroll through social media, binge-watch your favorite shows and browse online retailers. While phones and other digital devices are convenient, they can lead to unnecessary spending.
Taking a “digital detox” -- cutting back on screen time and online activities -- can help you save money in ways you might not expect:
Reduce Impulse Spending: This is easily one of the easiest ways a digital detox could help you save some cash. How many times have you stayed up late scrolling and saw something you just HAD to have, only to realize a few weeks later that it was a waste? It’s not all your fault. From online shopping ads on social media to one-click purchases on websites, sales sites are designed to encourage you to spend. A digital detox will minimize the temptations for a trendy, must-have item. If you happen to find a great deal on something you actually need, be sure to use your Daily Rewards Debit Card, so you can earn 2 cents back each time you spend.
Trim Subscriptions: Streaming services, app subscriptions, and digital memberships… it seems like you need a different service for every show these days! When you take a break from your devices, you might realize how much you spend on services you can live without.
Lower Data Use: A short break could significantly reduce your data usage, especially if you often stream videos or play online games on your phone. Over time, these savings can accumulate, affecting your monthly budget.
Boost savings: When you're constantly online, it’s easy to overlook how much you’re spending. A digital detox can help you get a clear view of your finances. With fewer distractions, review your budget, track your spending, and see places to cut costs. Take the money saved and put it toward a Tropical Financial savings account or CD.
Now that you’re ready to try a digital detox, start by setting small goals. Turn off notifications, temporarily delete certain apps or keep your phone in a drawer during times of the day you are most likely to shop. You will find fun ways to fill that time and save money while you’re at it!
