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How a 'digital detox' could help you save money

Time away from your smartphone and other devices can be a good thing for your wallet.

Yahoo Personal Finance· Getty Images

If you spend hours staring at your laptop or mindlessly scrolling through your phone while watching TV, you’re definitely not alone. Internet users ages 16-64 spend an average of 6 hours and 40 minutes on the web each day, according to the Digital 2024 Global Overview Report.

Excessive screen time has been linked to consequences such as sleep disturbances, back and neck pain, and even depression and anxiety. But the repercussions can extend beyond your physical and mental health. A study by BadCredit.org found that Americans spend an average of $513 per month on online purchases. With ads and shopping portals seamlessly integrated into social platforms, and digital payment apps that allow you to make purchases with a single tap, it’s easier than ever to spend money without much thought.

Even though screens have become the center of our lives, stepping away from your screens (at least for a little while) can help you cut down on spending and reprioritize your financial goals. And a great way to do that is with a digital detox.

A digital detox is when you intentionally take time away from your social media platforms and electronic devices, such as your phone, laptop, or tablet. Basically, it’s a digital reset that forces you to be more present. The idea is to break the cycle of dependency on digital devices, which can lead to improved mental health, better sleep, more meaningful interactions with others — and even savings.

A digital detox can be as short or as long as you want. For some, a 24-hour detox can be refreshing. Others may decide to go days or weeks without screen time for a major reset. It’s up to you to determine how long you need to step away from your devices to benefit.

Going cold turkey from your devices, even for a short period of time, can be a good thing for your finances. Here’s why.

As you're scrolling through your social media feeds, you probably encounter a number of ads and sponsored content tempting you to buy products you never even knew you “needed.” The more time you spend on your devices, the more you’re bombarded with these messages to buy.

With a digital detox, your exposure to these attention-grabbing ads is all but eliminated. You’ll probably realize that you don’t feel compelled to spend money when these products are being pushed on you.

Online shopping removes the pain of paying because you don’t have to physically hand over your cash or card at the register to complete a transaction. Often, all it takes is the tap of a button, so you can complete a purchase before really thinking it through. Limiting your screen time could help you cut back on these impulsive splurges.

If you’re spending an average of six hours out of your day online, that’s about 180 hours per month that could be used to improve your financial situation.

By disconnecting from digital distractions, you may find yourself more productive in your work or personal projects. Maybe you pick up a new skill that could lead to a promotion or raise at work. Perhaps you start a side hustle for some extra income. Or you could finally sit down and create a budget to better manage your household finances.

The next time you find yourself complaining about not having enough hours in the day, consider that cutting back even one hour of screen time gives you 30 hours back per month.

If a digital detox sounds like just what you need, here are a few tips to get started and set yourself up for success:

  • Set a timeline: It’s probably not realistic to swear off your phone and social media for the next six months. Try starting with a smaller goal, like a 24-or 48-hour detox to see how you feel. You can always work your way up to a longer detox once you get comfortable with spending more time offline.

  • Be realistic: Reducing the time you spend on your devices has plenty of benefits, but you may not be able to go completely cold turkey if you work remotely or need to stay in contact with family members. That means you might need to set some ground rules around what constitutes necessary access to your devices.

  • Put safeguards in place to help you stick to your goal: Think carefully about what temptations might encourage you to pick up your devices and remove them before they can sabotage your progress. This might mean turning off app notifications or finding a safe place to store your devices so they’re out of sight and out of mind.

  • Make a plan for your time: Decide how you’ll use those hours you usually spend scrolling. Maybe you want to start a book, deep clean the kitchen, reorganize your closet, take a few workout classes, or have more quality time with family.

  • Cut yourself some slack: We often lean on our devices for entertainment, work, paying bills, sticking to a schedule, and so much more. If you end up breaking the rules of your detox, that’s OK. You can always start fresh later or come up with a more manageable plan that fits your lifestyle.

Other savings challenges to try: