How much time do you spend on the internet? I’m almost afraid to track my own time on the information superhighway – in between trips to the gym and the bathroom, the answer is probably “most of the day”. But the real question is, am I using my time efficiently, or is there a better way?

According to the Pew Internet & American Life Project,  more than 84 million people have broadband Internet access at home.  People use the internet for a variety of things, and over the past several decades it has changed the way many individuals communicate, shop, and manage their money.

Here are some ways that the internet can help consumers save time and money in everyday life:

Communication. Using the internet to communicate (whether it’s email, facebook, myspace, etc) is “free”- there are no postage costs, you can email documents saving on faxing costs, even place long-distance calls through services such as skype.

Shopping. According to the Nielsen Global Online Survey, in 2008, more than 85% of online users worldwide have utilized the internet to make a purchase. We all know how to find items we’d like to purchase online, simply do a search via google, yahoo, etc. But did you know you can automate your comparison shopping? Comparison shopping tools such as those offered by pricegrabber.com or shopping.yahoo.com offer an easy way to avoid wasting time visiting multiple sites to find the best price. Simply type in the item you are  shopping for and a list of price ranges and product selections appear on screen.

Additionally, many online retailers circulate “promo codes” that can be redeemed at checkout for additional savings. Before completing your online purchase, do a quick Internet search for any coupons or codes that may be available- you can frequently save an additional 5-10%.

Fuel Costs. Any trip or errand that can be eliminated due to finding an item online and ordering it that way makes obvious sense. For trips that are required, finding the most cost-effective driving route by using online mapping services such as Mapquest can save both time and money.

Research. Whether you want to research to find the best type of new car to fit your needs, or the best health or auto insurance deal, a few clicks on an appropriate quote-shopping comparison site can save you loads of time over calling individual providers, filling out dozens of  applications, or visiting multiple car dealerships.

Why are many items sold cheaper on the internet than at retail stores? Most online stores have lower overhead costs, and these service providers are able to pass along the savings in the form of lower prices.  Internet retailers are also forced to be more competitive as they are not just up against the other shops on your street, but against the entire retail world.
To ensure your time spent on the internet is as productive as possible, take a few minutes to customize your local news, weather, sports scores, movie show times and TV listings. Take advantage of time-savers such as bookmarks for your frequently visited websites, automated spam-filtering applications,  and features such as e-mail preview which alert you to new messages without having to constantly check for them.

There are many ways consumers can optimize their Internet experience and use a variety of special tools and options to save money and time.  In these economic times, it makes sense to use every tool at your disposal to stretch your family’s dollar.

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