Looking for ways to stop spending all your money on technology? Check out the following tips…
We live in what can only be described as the golden age of technology. There seems to be a gadget and an app for just about everything, and it’s where a lot of our money seems to go.
In fact, a study by a leading technical support company found that US households spend around 35% more on technology bills than they do on utility bills. Therefore, we are clearly a nation who have been consumed by technology. This is even more relevant for those families who have children.
Most people under 20 have grown up alongside technology, meaning they don’t recall a life without it. This means that tech is an important part of our children’s lives, and you may find yourself spending a lot of money on it for them in the battle to keep them up to date. But if you’re trying to cut back on your spending, tech could be the best place to start. These tips can help you stop spending all your money on technology.
Look out for any opportunity to save money
One way to stop spending all your money on technology is to look for deals and sales. Technology companies mean business – so they are always trying to tempt new customers in with flash sales. If when these sales are most likely to be held, you can go in prepared and come out with a bargain.
Coupons are also worth investing some time in if it means you can get a new piece of tech for a fraction of the price.
Keep an eye out for seasonal sales as well. Plus, when a new model comes out, the prices off drop on the previous models by a lot.
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Don’t turn your nose up at second hand
Skipping buying brand new is another way to stop spending all your money on technology. Your child may be absolutely adamant that they need the brand-new iPhone, and that no other phone will do. But companies such as Apple time their new releases very well, meaning that once you’ve signed into a contract on one phone, the newest one will come out soon after. This causes a lot of people to buy straight out of their contract just to have the newest model.
But this can actually work in your favor occasionally. For example, someone might be selling their old iPhone simply to get the latest model a few months later. Make use of the fact that phones lose a lot of their value as soon as they leave the store and snatch a bargain second-hand phone for next to nothing.
Always question your warranty
When you buy a new piece of tech, you will nearly always be asked if you want to purchase an extended warranty. These can be useful for people who have a history of being clumsy with their phones or TVs. But, for the most part, they are just there to swindle you out of more money.
So another way to stop spending all your money on technology is instead of accepting the warranty in-store, go home and consider creating your own warranty fund, or see what your credit card can offer you. Some current accounts also offer free warranties on certain goods, so it’s definitely worth speaking to your bank.