1. Time your purchase
Plan everything carefully because that’s how you’re going to save more money. An unplanned purchase is an open invitation to huge credit card bills. There are times when prices go down. Don’t buy anything soon after its release. Wait for some time, a month or a year and buy it when the prices are slashed. A gadget can wait, but a financial crisis won’t. So, stop putting yourself at such risk.
2. There’s a right time to buy anything
Just like how people plan their holidays or stock investment, smart people choose the right time to buy tech products. Cyber Monday, Black Friday, and Christmas always offer great deals on products, especially on electronics. There are some less busy times of the year when you should consider buying your favorite tech products. If you are not sure, grow your network, ask people who work in stores about the right time to make a purchase. You can easily save money if you do some research.
3. Buy refurbished items
Just because it’s refurbished doesn’t mean that it won’t last. Refurbished gadgets are often items people returned for no reason. Even if a product is returned for some manufacturing defects, companies that sell refurbished items replace the faulty parts to make sure the products work as expected. In most of the cases, refurbished items are sold for a huge discount in stores.
4. Don’t extend the warranty
Unless you are careless or a child, there’s no need to extend the warranty of a product. Many manufacturers and retailers earn extra money when they sell you an extended warranty offer and you end up paying more which is not even required. If you are worried about the safety of the product, get insurance for it. The money you pay for the extended warranty can be saved and used for replacements or repairs when needed.
5. Stop paying for the brand name
Generic products are not always bad. Small companies usually don’t have the money to spend on advertising. They can’t cover the whole city in ads, and that’s why their products often go unnoticed. If you have the skills required for online research, use it to know about a product and you will definitely find helpful resources and information. In case of accessories, stick to generic brands.
6. Don’t replace in a hurry
Sometimes, the idea of upgrading turns out to be a trap many people fall into. A new gadget, a new smartphone model, or a more powerful laptop can help you get things done more efficiently, but if your device is still doing its job, there’s no need to replace it just because a new product has come out. Electronic items get old quickly. What you’re buying today will be replaced by better technology and features soon, so ask yourself if you REALLY need a new device.
7. Buy previous-generation devices
This idea may not work all the time, but in most cases, it will always be relevant. For example a 5G phone. Many people in 2019 or 2020 will think of buying a 5G phone because the internet speed will be faster. There will be very attractive data plans to convince 4G users, but if you can curb your impulse buying, you can save money for something more meaningful. If you really need a smartphone, go for a high-end 4G phone so that it won’t feel dated.