Most examples of the impact of the Internet of Things, or IoT, revolve around how it will transform the industrial and public sectors. And while that's true, the IoT is much bigger than that and far more personal.

Apple's (NASDAQ:AAPL) new mobile payments platform, Apple Pay, is just getting under way, but it's already paving the way for even more automated wearable payment systems. Citigroup believes consumers will soon use smartwatches and other wearables to pay for goods simply by walking out of a store, while the devices make the payments without any human interaction.

But the IoT is all about analyzing data and making better decisions from that data. Accenture says your future Internet-connected car will tell your bank that it needs repairs, the bank will analyze your spending, and then suggest the best way to help pay for the upcoming repair. 

And that's not the only way your car will help you save money. CalAmp (NASDAQ:CAMP) makes wireless connections that allow auto insurance companies to track how a driver accelerates, brakes, corners, and more. It's called usage based insurance and it can lower monthly premiums for good drivers. 

Find out more about how the Internet of Things will change your personal finances by clicking through the slideshow below. 

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