Keeping up with the latest technology

Technology is wonderful because it has literally transformed the way we live. However, we tend to spend a lot of money keeping up with the latest trends. Tech like cellphones were not there a couple of years ago and we have become enslaved to the them. There is nothing wrong with having the latest gadgets but I think it is not important especially if you have debt or no savings.

  1. Getting the latest smartphone – This has been one of the major ways consumers spend their money. I know everyone has their own trend and lifestyle but I believe it is unnecessary to keep up with the latest smart phone when you probably have debt that needs to be paid, have no savings or even a stable job. I will give an example with  the iphone . The latest model of  an unsubsidized  iphone that is 5s costs between $649 for the 16GB model and $849 for the 64GB model. For the subsidized one, it will cost you between $199 and $399. So what do consumers do, they get the subsidized one because it is cheaper. However, what most people do not know is that they pay for it over time through their monthly bill payment. Tmobile changed all this and instead of discounting the phone, they discounted the monthly payment and then you pay for the phone monthly or pay the full price at once if you can afford.Either way, the consumers think they are getting a good deal but none of the two is good. The point is, if you had an iphone 5, why get the 5s when iphone 6 will be coming soon.It will cost you a lot when you try to keep up with the latest phone. Those with a Samsung galaxy s4 should not feel the need to upgrade when the S5 comes out. This is how the companies make money. However, this is just my opinion. You can do whatever it is that you want.
  2. Televisions – This is a technology product in our living rooms  that is evolving fast. New TV’s are made all the time but at lest people do not update then as much as phones.We just came from the old fat TVs to the flat screens. Then before we knew it, we could get a HD signal to get the most out of our HDTVs. However, the HD signal comes at an extra price. Even though I feel it will become the standard in everyone’s living room, we are paying the price at this time. It is optional though. Right now we have 720p and 1080p full HD  TVs but Ultra HD Tv’s are on the way with a 4K resolution.
  3. Cars – Apart from paying insurance, maintenance fees and gas, some people cannot keep a car for long. They have to keep updating to the latest models. There is nothing wrong with that as long as you can afford it. I don’t see the point of increasing your debt (assuming you are financing it) every time you update to the newest car which loses value once you drive off the lot.
  4. Ipads/Tablets – People already have phones with internet connectivity and also laptops or desktops at home. However, when they go mobile, the excuse to get a tablet is mainly because it has a bigger screen. Fair enough, but do you need to get the latest iPad every time it  is released ? Apple and other tablet makers always get the last laugh.
  5. Data – To get the most out of the smartphones and tablets, we have to purchase data. This can get very expensive for heavy users and it would be advisable to have wi-fi in the house so that you don’t use your data when at home.

This is just a small scratch on a very big list of the technology trends we try to keep up with.

Do you try to keep up with the latest technology trends?

7 Responses to Keeping up with the latest technology

  1. I do what I can to RESIST keeping up with trends until I have to. I prefer to make a quality purcahse and make it last as long as possible. I bought an LED smart TV a couple years ago, but it was after using a 20 inch tube TV for six years that I got for under $100 before I started college. I plan on using it for at least another five years, if not longer. I was tempted to get a tablet but I took a step back and realized that I really don’t need it as I was not even getting full use out of my laptop.
    DC @ Young Adult Money recently posted…How to Save Money using ChippmunkMy Profile

    • demaish says:

      These electronics can be very tempting and I think the good thing is what you did. Buy one nice one which can push you a couple of years

  2. zimmy says:

    I never attempt to keep up with technology. I prefer to hold my outdated technology until it no longer works and then get the used version of the almost latest technology. It always ends up saving me a bundle.
    zimmy recently posted…Freelance Writer? Earn Some Extra Money With DevtomeMy Profile

  3. I care nothing about TVs, phones, cars etc. Bf on the other hand always wants to have the newest and best of everything (he’s the only reason I have the iphone-he bought it as a present to me). I wish I could “tone him down” a little bit with the tech fever, but I guess it could be worse. He’s still pretty frugal in other areas of our life.
    KK @ Student Debt Survivor recently posted…Sick and Tired of Being Sick and TiredMy Profile

    • demaish says:

      Good luck on toning him down…Just like most ladies love shopping or decorating the house, most men love their electronic toys. But it is just a matter of making wise decisions when one buys them

  4. Vhinz says:

    Nowadays people opt to buy the latest gadgets even though their using one of the newest model already as if they don’t want to be left behind with the so called trend.
    Vhinz recently posted…MSI Radeon R9 290X LIGHTNING Graphics CardMy Profile

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