Broadband Connection Can Save American Family $7,707 Annually

High-speed broadband Internet not only gets you connected, but also can save you nearly $8,000 a year according to data issued by the Internet Innovation Alliance (IIA). The study reveals the cost-saving benefits to families, but also highlights the real challenge of the digital divide.

The cost-saving breakdown comes in ten specific areas: entertainment, travel, housing, food, apparel, automotive, newspapers, gas, non-prescription drugs, and bill pay. The biggest savings came in the areas of entertainment and travel, while things like automatic bill pay and online-journals cut costs by 100 percent.

Though the savings were based on a U.S. household income of $62,857 before taxes, low-income families would still have proportional savings. According to the IIA:

"Millions of Americans without a broadband connection — a disproportionate percentage of whom are minorities, seniors, lower income or live in rural areas — miss out on these cost savings every day."

The cost of the digital divide is no longer just presented in terms of education, access to job opportunities, on-demand information, and social networking — it also manifests itself in savings lost. Broadband Internet has become a prerequisite for living and shopping smartly, and universal access needs to be a priority in the U.S.

Top Ten Ways Being Online Saves You Money (Internet Innovation Alliance)