These days, gadgets are high up on people’s wish lists. Thanks to gadgets, a good number of American consumers have racked up a lot of credit card debt. This is an alarming development, but fortunately, there are ways to resist the temptation to buy, buy, and buy more stuff. Here are our suggestions for taming and controlling the gadget-greedy monster in ourselves.
- Let’s look at the recommended shelf life for some phones: you can use a smartphone for about three years, and a sturdy laptop for about five to seven years. Take good care of your gadgets and don’t hesitate to upgrade parts as needed in order to keep your gadgets in good working condition. Doing so will allow you to stick to your gadget purchase schedule.
- When you make any phone purchases, do so with careful thought. Think about using a cash back credit card if you are sure you can pay off your balance in full monthly. You can earn rewards and even receive cash back if you use these cards wisely.
2. Curb your impulse to buy anything you see! The problem with being materialistic is that this attitude and behavior can be pretty consuming. Don’t give in to it. Not all new products being released by tech companies are worth buying. There are duds out there, and you should steer clear of them. Here are some guidelines on how to say “no” to shiny toys that aren’t worth your time and money:
- Does it have all the features you need? If not, don’t even think about it.
- Streamline your preferences. Can’t decide between the Android or the iPhone? Think about whether you prefer Open Source slickness or the seamlessness and integration of the iOS. If you’re an Apple fan and you would rather have a phone that is compatible, then it makes no sense to consider the Android phone. If you’re an Open Source/Google fan, stick to Android and don’t bother thinking about the iPhone 4 or the iPad. Putting on virtual blinders when it comes to gadgets can make your life simpler.
- Think about the benefits vs. the cost. You may think that you are saving money if you simply got an iPod Shuffle and a Blackberry. But what if an iPhone would make your life simpler, and in the long run, actually cost you less because you won’t need to upgrade your iPod Shuffle to another device (e.g. an iPod Touch or an iPhone)? Weigh your choices well.
3. Have a brand blacklist. List down the brands that your knees go weak for. These are the brands that you’ll stay away from when you’re window shopping or surfing online. Only pass by these brands’ online stores and sites when you have a reason to reward yourself, or when it’s time to actually upgrade one of your gadgets according to your purchase schedule.
To ward off possible disasters when you’re out window shopping, leave your credit card at home and instead, opt to carry cash or use a debit rewards card or a reloadable prepaid debit card. That way, you can easily put a cap on your spending.
4. Don’t buy substandard items. With the rise of direct supplier websites, people now have open access to iPhone knockoffs and other China-made tech goodies. While it may be tempting to own an iPhone lookalike at half the price, pass it up. An iPhone may last you five years and beyond, but the knockoffs may barely get through a year.
5. Reward yourself properly. Let’s say you want a Macbook and already have the money for it, but are thinking twice because it costs more than a perfectly serviceable Dell laptop. Why would you buy a Dell when you have the money for a Macbook? Skimping on the purchases that matter would actually work against you. In the long run, you may eventually get the itch to go and buy the Mac as well, which you wanted in the first place, and will end up paying a whole lot more: for the brand you settled for, and also for that Mac you always wanted.
If you fear that you don’t have the cash for a quality gadget purchase, then save for it! Think about saving your money in an account like the Sallie Mae Savings Account, whose rates are generally higher than average.
Curbing your gadget spending need not be a big challenge. Since gadgets have become necessities in our modern world, there is no avoiding their presence in our lives and in our budgets anymore. But with the right strategy, even the worst gadget addicts can avoid going overboard.
This guest post is brought to you by SVB from The Digerati Life.
Great post – gadgets seems to consume us these days, and it’s hard to say no when all your friends have the latest and greatest!
Jason – I agree. I think gadgets are one of those soft expenses that we build up gradually and never fully realize what affect they’re really having. The stuff is generally useful–or at least entertaining–so the purchases seem so worthy. Maybe they are, but less is usually better with things.
This used to surely describe me. The old me would of had an iPhone, iPod, iPad, Blue-Ray player with a big tv to watch it on, an Xbox 360, PS3 and more — and the cost doesn’t usually stop with these items. They usually require or at least encourage further spending. (i.e. new games, new songs, new apps, new movies)I used to be bad!
Nowadays, although I do have a gadget that I couldn’t live without, my Nikon D5000, I use it to capture awesome moments with the family and our activities together. Still though, the old me would have had multiple lens, and all the other stuff that makes photography so darned expensive. I have changed and I owe it mostly to getting out of debt. That process taught me a lot about myself and helped me change the things that led to the destructive and unnecessary out of control spending. 😀
Great post Kevin!
Brad – I think us guys are the most guilty of this. Girls have jewelry and clothes, but for us it’s gadgets. We’re fascinated by moving parts and by technology in general. We might think of it as “man stuff”, the way earlier generations of men thought of their tools and guns, but for most of us they have no such necessity. Still, we can justify it all and that’s when it becomes a problem.
While I still buy the occasional gadgets, I pretty much restrict myself, and stay within a strict budget – and only buy things I know I’ll use. For example, I really wanted an Iphone, but I knew my current cheapo phone works just fine, and I just don’t need it – or the big monthly bill. Or when i bought a laptop for blogging last year, I set a budget for myself, and although I wanted to go over – I didn’t. I got something very nice, although it wasn’t maybe my 1st choice.
I also in the last few years have begun to realize that having “more stuff” has it’s own baggage associated with it. It means you have less room, more clutter and less money. All reasons why I have cut back drastically on my gadget buying.
Pete – Good point on the baggage that comes with having more stuff. In addition to cost, clutter and less room I’d add less space in my brain! Any new gadget you get requires more time to learn and master it, as well as the ongoing quirks associated with it. Not conducive to a simpler life (which is an ongoing goal in my life).