Broadband Could Save You 10 Grand

According to the Internet Innovation Alliance, high-speed Internet enables Americans to save an average of $11,944 per year on household spending. After factoring in the average annual cost of a mobile data plan and a home broadband connection ($1,440), the annual savings still add up to more than $10,500. The financial analysis, "10 Ways You Can Be Money-Savvy with Broadband," was authored by Nicholas J. Delgado, certified financial planner and principal of Chicago-based wealth management firm Dignitas, in partnership with the IIA.

Over the past five years, the IIA says, the amount of money that consumers save by utilizing high-speed Internet as a tool has shot up 55%, from $7,707 annual savings in 2010 to $11,944 annual savings in 2015. Household income before taxes rose 6.4% from $62,857 in 2009 to $66,877 in 2014, and average annual expenditures per consumer unit climbed 9.0% from $49,067 in 2009 to $53,495 in 2014.

"Without question, the return on investment in broadband connectivity outweighs the cost, with unmatched chances for deal comparison, competitive pricing, and group-buying," said Delgado. "Online-only discounts, coupons and sales can be exciting, so it's important to keep your impulses in check to avoid over-spending."

Drawing from the 2014 Consumer Expenditure Survey released on Sept. 3 by the Bureau of Labor Statistics, the IIA's 2015 installment in its Cost Campaign series analyzed what the typical American family can save yearly on necessities like housing, food and clothing; basics including entertainment, gasoline and health insurance; and everyday services like bill pay and news, through opportunities only available via the Internet.