The information economy should make it easier to be a smart consumer – but the sheer amount of data out there can make it harder. However, various comparative tools are available to help customers make the correct purchasing choice.
Consumers need access to all the information about products they’re interested in, but we also need a system that shows us exactly how relevant products compare to each other.
Fortunately, consumer technology is catching up and providing reliable and effective comparisons that can save consumers a lot of money.
That’s why 2016 may finally be the year of the comparison.
Making cellular simple
Cellular contract are a great example of how complicated consumer decisions have become. The market has become bewildering with over 10,000 combinations of packages on bundles available for you to choose. Which contract will be most cost effective? What phone should you get? Is my network right or should I migrate?
A prime example of a tool to help sort through this complexity is Tariffic – a web-based service that helps you find the best package for your unique needs, taking the guesswork out of choosing the perfect cellular contract.
Comparisons aren’t just about spending less, they can also be about earning more. Another valuable comparison tool for consumers is the new free mytreasury.co.za Savings Optimiser, which finds you the savings account with the highest interest rate. Until now bank accounts have been notoriously opaque. With so many products giving hundreds of different rates based on a range of criteria across numerous banks, finding the best interest rate was almost impossible. My Treasury now makes it quick and easy.
It doesn’t cost anything to put your cash in a high interest savings account, making it an smart and effective way for ordinary people to grow their wealth.
Real value insurance
Now that you can get instant quotes from a range of insurance companies, there’s no longer any reason to stick with an insurance policy if you can get a better deal somewhere else.
However, there are some important points to bear in mind. When it comes to insurance, reliability is key. A cheaper premium is worth nothing if you can’t depend on the insurer to pay out when you need it. Look for the best deal, but don’t compromise on quality cover.
Information is consumer power
The great thing about effective comparison technology is that it makes consumer markets more transparent, which increases competition. It’s time consumers stop accepting complex price plans that conceal high prices. When it comes to being a smart consumer, knowledge really is power.