Saving money to purchase electronic devices

Each time Apple launches a new product, people seem automatically wanting it. Although smartphones, tablets, and computers are really useful for daily tasks and work, it isn’t healthy to fool ourselves and justify the impact of buying the newest phone with promising technology has on personal finances.

With every new product, it seems that they are more practical in terms of size, more quality to run apps, and everything that it allows you to do. Costumers’ relationship with iPhones, for example, is very curious since it shows how easy people are willing to give up their already perfectly useful device for the newest one. Sometimes, a lot of money is sacrificed just to have the latest smartphone with any justifications.

Before falling into the temptation of acquiring any new technology -that usually costs a lot of money- you must think about the investment you are about to do. Of course, if you don’t have the money to afford it then do not use your emergency fund to pay for it because it isn’t an emergency (unless your current device can’t be fixed and you need it for work).

hands-820272_1280.jpg

The need of having THAT smartphone or the latest tablet

Before purchasing an electronic device, the starting point is to think about the use you are going to give to it. Is it necessary to buy the latest tablet if we only use it to watch YouTube videos? Of course not, especially if you already have one that gets the job done and that still runs software updates.

Think if you need to replace your smartphone with the newest one just because it is available. This means spending hundreds of dollars that you don’t need to spend. You can also wait until there are discounts or special offers.

Don’t buy the newest

Perhaps you do need to change your phone but don’t splurge on the newest one. Compare prices and the technology that other versions have but aren’t necessarily the latest one available. Often it comes to details that, unless you use your phone for specific things, aren’t relevant for regular users.

Probably you will find what you need within a phone that is more modern than yours but without buying the most expensive one.

Selling electronic devices that you no longer use

If you need to replace -for example- your computer, you can sell it through Facebook Market or maybe to someone that you know. Some brands, like Apple, buy the product from you.

This way you will avoid having a useless product at home and you will earn some extra cash to spend on the new computer that you need.

Electronic devices have become elements to demonstrate some sort of social status and that is when comparison and pressure have a consequence on your finances. Often we fool ourselves by justifying the purchase of a new smartphone when we only use it to call, send messages, and social media. The first step to save money when buying electronic devices is, to be honest with yourself and know when you really need them.

Join our waitlist and get free access to our new products

By clicking the "Subscribe" button above, you agree to our Privacy Policy and Terms of Service & Use.