Tips for Saving Money on Networking at Home and in the Office

Its not surprising, that in the current economic climate, businesses and consumers are more conscious than ever about their spending. With rising costs across [1] multiple sectors, energy price increases and an extended period of high inflation, finding ways to save on essential expenses, such as networking, has become a priority.

 In this blog, we will explore practical tips to help both businesses and consumers to save money on their networking needs, whether at home or in the office.

The Current Economic Situation in the UK

The UK economy is has been through a challenging period, characterised by high inflation and fluctuating interest rates. Inflation remains above the Bank of England’s target, leading to increased prices for goods and services across the board. To address these issues, the Bank of England has adjusted interest rates multiple times, which has [3] impacted borrowing costs for both businesses and consumers. Troubling economic conditions have created a situation where every pound counts, and finding ways to save money has become crucial for maintaining financial stability.

Given the current economic outlook, both businesses and individuals need to be more strategic with their spending. Over specifying networking requirements can lead to unnecessary expenses that could be better allocated elsewhere.

Tips for Businesses: Optimise Your Networking for Cost Efficiency

1. Avoid Over specifying Your Network Requirements

A common mistake businesses make is over specifying their networking requirements. Investing in high-end networking equipment that exceeds your current needs can tie up capital that could be better used for growth initiatives. For example, purchasing enterprise-level switches or routers with more capacity than needed can lead to underutilised resources. Instead, focus on acquiring equipment that meets your current needs with some room for growth. This approach helps you avoid the cost burden of over investment while maintaining the flexibility to scale as your business expands.

2. Leverage Cloud-Based Solutions

Adopting cloud-based networking solutions can offer significant cost savings compared to traditional on-premises equipment. Cloud-based solutions often allow for more flexible pricing models, allowing you to pay only for the resources you use, which can be more cost-effective than a large upfront investment in physical hardware. Additionally, cloud solutions can reduce maintenance costs and free up IT resources, enabling your team to focus on more strategic projects.

3. Regularly Review and Optimise Your Internet Service Plan

Many businesses subscribe to internet service plans that exceed their actual usage requirements, leading to unnecessary expenses. Regularly reviewing your internet usage and adjusting your plan to match your needs can result in significant cost savings. For example, if your business is paying for a high-speed connection that isn’t fully utilised, downgrading to a more appropriate plan can free up funds for other critical areas that are under resourced .

4. Implement Energy-Efficient Networking Equipment

Energy costs can be a significant expense, especially for businesses operating multiple servers and networking devices. Investing in energy-efficient networking equipment can help reduce power consumption and lower your utility bills. Look for networking devices that are ENERGY STAR certified or have other energy-efficient features to help minimise your operational costs.

Tips for Consumers: Saving Money on Home Networking

1. Don’t Overestimate Your Home Coverage Area for Mesh Networks

When setting up a home network, opting for a mesh network to ensure reliable Wi-Fi coverage throughout your home is a great solution. However, a good money saving tip is don’t overestimate the coverage area you need. Mesh networks will provide an estimated coverage area, and purchasing more nodes than necessary will both increase the initial outlay and cost of power on an extra node. Instead, assess your home’s layout and determine the optimal number of nodes required for complete coverage, if you find that the mesh solution isn’t providing full coverage, you can always add an extra node at a later date.

2. Match Your Router Speed to Your ISP’s Plan

Investing in a high-speed router is beneficial, but it's important to remember that your internet speed is limited by your ISP's plan. If you have a 100 Mbps internet plan, purchasing a router that supports speeds far beyond this will offer little additional benefit. It's also worth considering the Wi-Fi standards that your devices support. Many new devices now support Wi-Fi 6E and Wi-Fi 7, which provide access to the 6 GHz spectrum for less congested Wi-Fi. However, the key consideration is whether your current devices are compatible with the 6 GHz band. While the number of supported devices is increasing, if you have only a few that support this band and don’t plan to upgrade soon, a Wi-Fi 6 router would likely be sufficient.

3. Consider Refurbished or Second-Hand Equipment

Refurbished or second-hand networking equipment can be a cost-effective alternative to buying new devices. Many reputable retailers, including Amazon offer refurbished routers, switches, and other networking devices at a lower cost than new ones. These devices are often tested and certified to ensure they meet the required performance standards, providing you with a reliable solution at a lower cost.

4. Regularly Update Your Network Firmware

Keeping your network devices’ firmware up to date can improve performance and security, potentially extending the life of your equipment and saving you money on replacements. Most manufacturers release regular firmware updates to address security vulnerabilities and enhance functionality. Regular updates can help ensure that your network runs efficiently and securely without the need for frequent hardware upgrades.

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