This kind of device uses a big capacitor to lower the initial drawing of current from electric motor. But then, most modern electric appliances already have some form of voltage regulator build-in. So unless you have a lot of electic fan or washing machine in your house, I don't see any help from this.
I would suggest to just switch off the mains of appliances which you are not using. This helps to reduce vampire power consumption due to the circuit standby mode. You will see the effect at the end of each month.