Technology is the fastest growing industry in the world. At one point, not that long ago, many individuals were still coveting a smartphone for the very first time, and now the vast majority of people have one. While smartphones have become generally more affordable, many still carry a heavy price tag, leading to payment options like personal types of financing, just to keep up with the latest and greatest. Apple has notoriously had high-end prices, with their recent phone release being sold right around the $800 (USD) mark.
When compared to phones like the Google Pixel 3 XL, though, starting at $900, that one hundred dollar difference may seem like a better deal. Keep in mind, these prices refer to the “base” version of these phones; models with more memory or other features will raise the cost. No one wants to feel as though they’re living in the year 2010 with an outdated cell phone, but companies are relentless when it comes to new models. Can the average person actually afford to stay up-to-date with smartphone trends (and still make rent)? There are a few things to do- and avoid doing- in order to make that answer a “yes”.
Examine the True Cost
What’s the true cost of a piece of tech? It’s more than just the up-front price, but also the amount you have to spend in order to repair it or replace it, should it malfunction. You should avoid spending a chunk of money on something you don’t really want that’s cheaply made, just because you can’t up-front buy what you do want, that’s better quality. For less than $150 you can purchase a budget variety phone, like the LG K30, but does it do everything you need it to? There are also some high-end, but slightly lower-priced options, like OnePlus phones, with the high end of their line averaging around $530.
Does this type of phone meet your needs, or fall short? It’s better to purchase an item that is well-made and that you’ll be satisfied with for a longer period of time than to buy something that frustrates you and needs to be replaced every year. It may cost more money up front, but it has the potential to save you money in the long run. You may want to rely on sensible financing options like small personal loans or a credit card with low interest, and compare the cost of these options to the cost of replacing lower-grade technology; you may be surprised. What you thought was saving you money, may actually end up costing you more.
Choose Trends Wisely
If you’re a tech enthusiast, you probably have your eye on a number of trendy electronics. Before you spend a fortune on getting, say, a smart shoe, though, consider the functionality and trendiness. If you suspect a specific trendy gadget might be in this week and out by the next, it might not be worth your investment when compared to something more enduring. Consider this: would you rather be on top of a trend for a month, or 6 months? Some tech items are short-lived fads, so for your wallet’s sake, consider this aspect before making a purchase.
When it comes to the following suit with tech trends, above all, it’s important to do your research. Being educated on a product is the only way to truly know what you’re getting, and whether it’s worth the cost.