A $12,000 Smartphone May Already Be in Your Pocket

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Forget eating at home or forgoing your daily Starbucks run: According to a recent survey, the biggest money saver in your life is in your pocket. In April, market research firm Harris Interactive, working with ClickSoftware, a mobile management firm, concluded that smartphone owners saved an average of $12,000 per year by using the handy little machines.

The key to these savings lies in apps: By enabling users to perform tasks like checking email and browsing the web from any location, smartphones can save people a fair bit of time. In fact, according to the survey, people who use their smartphone to check email save an average of 35 minutes per day. Those who use it for web browsing saves an average of 33 minutes, those who use weather apps save 17 minutes, those who use map programs save 24 minutes, and those who use calendar apps save 23 minutes.

Now, not everyone uses their smartphone for all of those things, but all told, it still works out to an average time savings of about 88 minutes a day or over 535 hours a year, according to the survey. Based on a national average hourly wage of $22, that's the equivalent of $11,777 a year.

This value is even further increased when one considers the low entry cost. The average smartphone runs customers about $174, about 1.5 percent of the yearly savings that the phone can potentially yield. That's only part of the equation, but even factoring an average yearly cost of about $1,700 for a data, texting and voice plan, smartphones are a pretty good deal.

Of course, this assumes that all that time on the smartphone is used productively, and that users spend the spare time they gain on productive pursuits. Unfortunately, the opposite may often be true: The survey also noted that 26 percent of users played games on their phones, 39 percent spent time on social networking, and 42 percent engaged in texting. In other words, for people trying to keep their mind on work, that little gadget can be a big temptation -- and a pretty major time waster.

Cell phone graphic

Bruce Watson is DailyFinance's Savings editor. You can reach him by e-mail at bruce.watson@teamaol.com, or follow him on Twitter at @bruce1971.

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Using math like this is criminal! Move the Superbowl to Saturday so my "Super Hangover" is on Sunday, and get rid of the time change and I'll actually make it to work on both of those Mondays, making me more money and allowing me to keep 2 vacation days extra per year... Over 40 years... and bam!! I'm saving almost $85,000 because I have 4 extra days to be successful at 24 hours a day at ($22 per hour) WTF!

May 28 2013 at 10:19 AM Report abuse rate up rate down Reply
Keen Services

How do they determine that the National hourly wage is $22 per hour??????

May 22 2013 at 1:16 PM Report abuse rate up rate down Reply

All right, a new bogus math equation derived from phone bonics. If I take this and apply it to my electric can opener, I see I have saved over 739,857.00 dollars over using my old P38, WOW...
Hey, it's a free country, and there is no limit to the imagination when it comes to sales tactics. Bon Appetit .......

May 22 2013 at 7:47 AM Report abuse +5 rate up rate down Reply
1 reply to usapaydirt's comment

A priceless comment that puts this into perspective. And think of the money saved if you use a manual can opener.

May 22 2013 at 12:19 PM Report abuse rate up rate down Reply

I just wanna know where the $22 hourly wage average comes from because I want to move there.

May 22 2013 at 5:22 AM Report abuse +2 rate up rate down Reply
1 reply to ddamerockwall1's comment

this number is derived from the compensation the BASIC WELFARE RECIP gets-
based upon how much the WORKER( and hey ! being we're all good little komrads NOW,so let's CALL US WHAT WE ARE...the WORKERS ! not employees etc---the WORKERS !)
based upon the amount of hourly wages to get your food/rent/health INSURANCE etc.

May 22 2013 at 11:56 AM Report abuse rate up rate down Reply
1 reply to setanta54s_back's comment
Keen Services

So imaginary numbers!!!!! The national average worker does not make $22 an hour. That is why our economy is all effed up!

May 22 2013 at 1:19 PM Report abuse rate up rate down
Andrew Robbins

apparently this came from the "Department of Pulling Numbers Out of Our A**". save you 35 min/day on checking email? huh??? I work in IT at a very large corporation and get lots of email but use less than 10 min in 8 hrs "checking" it.

May 22 2013 at 4:28 AM Report abuse +1 rate up rate down Reply
1 reply to Andrew Robbins's comment

little dweebs today work nonstop on tweeting twittering and of course their emails
as they are sooooooo popular and have a huge circle of friends !

May 22 2013 at 11:58 AM Report abuse rate up rate down Reply

I am not sure how they playing games and being on Facebook saves time. We are talking time not productivity.

May 21 2013 at 7:59 PM Report abuse +3 rate up rate down Reply

got to love it save magic money ,in other words u got more time to do nothing

May 21 2013 at 7:15 PM Report abuse rate up rate down Reply
Johnny plant

Better save that money for the brain cancer and other medical issues microwaves have on the endocrine system by putting that high microwave device close to your head and in your pocket where your testicles and ovaries are near. The facts of cell phone use on the body are finally coming forth.

May 21 2013 at 6:58 PM Report abuse rate up rate down Reply
1 reply to Johnny plant's comment

Someone's paranoid. Get a job.

May 22 2013 at 12:02 AM Report abuse rate up rate down Reply