Smart phones used to be extremely expensive and it was hard to justify their cost.

With the fierce competition in the cell phone marketplace, and thanks to prepaid plans, owning a smart phone is now extremely affordable. And as an added bonus, if you use your smartphone wisely it can save you money in several areas of your life.

If you’ve been debating on whether or not to get a smart phone, here are five ways your smart phone can save you money.

Money Saving Apps

There are a plethora of free money saving apps you can download to a smartphone.

With the push of a button you can check for the best gas prices, grocery prices, fee free ATM’s, and sales going on in your area. You can also store your customer loyalty cards for various stores with a special app.

By spending a few extra minutes checking these apps before leaving the house you have the potential to save yourself some serious cash.

Digital Coupons

More and more retailers are now accepting digital coupons which will save you the time and hassle of clipping coupons out of newspaper inserts.

Many retailers will text you coupons for signing up for their email list. In addition, you’ll also receive exclusive coupons not available anywhere else. You simply show the coupon to the cashier at checkout and you’ve shaved some money off of your bill.

Games & Other Entertainment

If you’re into playing games there are thousands and thousands of free games you can download to your smartphone.

There are games well suited for adults and there are also tons of games suited for children of all ages.

For adults you’ve got Gala Bingo Online, who have their app available for download or their mobile site, so you’re never far away from your next game. They post loads of great offers and promotions through their Twitter account too. So be sure to give them a follow and don’t miss out. You may be treated to some free bingo if you’re one of the lucky ones.

For the kids there are loads to choose from, but it’s the favorites that stick in our mind, Candy Crush and Angry Birds.

You can also access the internet from your smartphone giving you limitless entertainment options.

Budgeting Apps

For all the avid money managers, you can download an app of your favorite budgeting software directly to your smartphone. Most companies make a mobile app so that customers can access their software more easily.

If you don’t use budgeting software you can find several great, free budgeting apps to try out. You’ll also be able to easily track your spending with your budget always close by.

Most banks offer free apps as well, so you can check your bank balance at any time.

Free Books

If you don’t have an eReader or want to test one out before buying, downloading an eReader app on your phone is the way to go.

You can download Amazon’s Kindle app to your smartphone for free and then take advantage of all the free books Amazon has to offer. There are dozens of sites that report free Kindle books daily. All you have to do if find the ones you like and download!

Using Your Smart Phone to Save You Money

Smart phones are extremely affordable today. There are several prepaid plans that start as low as $20 a month.

If you’ve been debating whether or not to purchase a smartphone, know that they really can save you money if utilized as a tool.

How do you save money with your smartphone?