How To Keep Up With Technology Without Breaking Your Budget



The world is full of things to keep up with—from the Joneses to the newest technology advancements. While keeping up with the Joneses is relatively unimportant, technology does deeply impact how we interface with an increasingly high-tech world. The business world is constantly advancing as hardware and software pave the road for faster, more personal connections. Keeping up with these advancements can be daunting as the best and newest is often the most expensive.

Not only is the world of business accelerating, it’s also expanding. You used to have a landline telephone and only the lucky few could send emails from personal computers. Now, email is ubiquitous. Updates and news scoops are delivered straight to our pockets with cell phones. A proverbial dance of technological demands has begun its procession through our purchase driven markets. And the dance is increasing its pace every day.

It seems that no sooner have you purchased a new tablet or laptop than someone else has come up with the next generation of the oh-so-expensive item, and yours is already outdated. New is a relative term in this day and age. So, how do we stay on top of these technological advancements? We all want to be able to operate smoothly without breaking the bank as we leap from today’s best and fastest to the next thing in line?

Know What Counts

Evaluate what counts. You may not need a tablet, desktop, laptop, dual monitors, smartphone and a gazillion apps on each of them to sync with one another constantly. Decide what your lifestyle needs and see to those needs. Yes, each new technological advance is exciting and has its perks, but it’s not necessarily suited for your life regardless of how the marketing department for each item tries to convince you that you need their stuff to remember how to breathe. A tablet might be redundant, or you may not need a laptop if you carry a tablet.

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For a professional who conducts a lot of business on the go, a tablet might be the best choice for a computer, while someone who needs a high-powered machine will benefit more from a desktop and a smartphone for on-the-go. Each person’s needs are different. Buying technology because it’s new and exciting might be fun, but it’s likely not a good reason unless your pockets go very deep. It’s hard not to get caught up in the fray of staying on the edge of what’s best, but it may not be necessary.

Some of us might find that the newest and best aren’t necessary at all. Make your money count and spend it on what is going to make the biggest difference in your life. If you don’t need the freshest ideas, perhaps buying things that have been on the market long enough to become discounted will help defray the cost of advancing technology.

Don’t Be Afraid to Spend When the Time Comes

Part of knowing what counts is knowing when to go ahead and buy something. Sometimes the best thing you can do for yourself is to get the newest smartphone. When that time arrives, relish it. Enjoy it to the max and plan ahead so that you don’t deal with any regret over the purchase. Making the most of these opportunities will keep you from feeling behind when it comes to more lean times when you have to be patient and wait.

Plan ahead, make a budget, keep an ear to the ground so you know what’s going to be hitting the market and so that you can plan accordingly. Always weigh things against your actual needs and calculate in your wants, as well. While wants aren’t a dire reason to go out and drop money on a touchpad, they are something to consider. We are human, after all, and as such, we are subject to a range of emotions when it comes to purchases and saving. Let yourself have fun. Don’t hold back so much that you never enjoy that money you’re working so hard to earn, just be mindful of it.

What pieces of technology could you not live without? How do you budget in your technological purchases?

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Dominique Brown

Dominique Brown is a financial planner, landord, personal finance blogger and video blogger. He is the owner of YourFinancesSimplified.com where he talks about everything from being a new father to his worst financial mistakes. He has been featured on The Huffington Post and H&R Block. You can find him either on Twitter, Facebook, Youtube or Instagram.

Comments

  1. Technology is important to me, considering I use it for work and my side hustles, so I make sure and research products well before I purchase. I am also not afraid to purchase used technology if I can find it refurb’d. Yes, things can be expensive, but you can also find cheaper alternatives.

  2. It’s all about research, evaluating alternatives, and only getting it if you can pay for it. There is almost always a cheaper alternatives if you are willing to go without for the first 6-months.

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