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Optimizing Your Personal Technology Budget

By David Carlson / Last updated: June 6, 2017 / Other

We may receive compensation from companies mentioned within this post via affiliate links. Read our full advertiser disclosure. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
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Responsible purchasing of technology frequently requires making it a priority in one’s budget. Otherwise, the expense of purchasing the latest gadget can quickly overwhelm necessities. Whether you are interested in the latest gaming technology, virtual reality, or ensuring you have the most functional smartphone, there are several steps you can easily take to make your money go further.

 

Protecting Your Investment

 
It is important to protect your phone to the best of your ability so your budget isn’t blown due to an accident. One of the easiest ways to protect technological devices is through increasing their physical security. This may mean purchasing an iPhone screen protector or making sure your tablet is always transported in a protected sleeve or case. These types of little investments can significantly prolong the life of your devices.

One easy way to protect electronic devices is frequently completely overlooked. This involves monitoring and regulating the way your device accesses power. For example, computers and televisions are typically set to constantly be drawing a low level of power at all times. This makes them easier to turn on but it can also decrease their lifespan. When possible, power items all the way off when they won’t be in use or simply set a timer for them to power off completely at a specific time each day.

Regulating the power consumption also involves being more mindful of the power source to which they are attached. Many people will simply plug their computer, television, smartphone, or tablet into a standard wall outlet that happens to be the most conveniently located. This is a mistake. Power surges and lightning strikes are devastating to any electronic device which is accessing the power grid in such a way. By purchasing a power strip that also serves as a surge protector it is possible to protect your devices from sudden changes in the electrical current. When selecting which strip to invest in, make sure they have a guarantee to replace devices which are damaged and be sure to register your purchase and keep the paperwork safe in case there is an accident at some point.

 

Timing Purchases

 
When considering what and when to buy, it is important to keep in mind that it is almost never a good idea to make a technology purchase as soon as a product is released. This holds true for phones, gaming systems, newly released computers, and even watches and tablets. This is when the companies are spending the most money to drive interest in their products and when the demand will be greatest. The law of supply and demand dictates this will be the point at which the price is greatest. So while it may be tempting to jump on the latest release before it is sold out, be reassured in the fact that you will make a purchase when the price goes down.

But how long should you wait? That really depends on exactly how patient each person is. There are generally better times throughout the year to make various purchases. However, in many cases it is possible to obtain deep discounts by simply waiting for the next model to be released and purchasing the previous version. Between versions, especially midpoint releases such as when Apple releases a new version of the same model of an iPhone, there is very little that changes in the design and functionality of the product. The difference between the iPhone 6 and 6s were minimal and not something the average user would notice.

 

Routines and Maintenance

 
It is also important to be mindful about the daily routines and the regular maintenance schedule required to keep your technology working properly. This includes installing updates and patches to the software in computers, gaming platforms, tablets, and phones. While they may initially feel bothersome and as though they are a waste of time, they are designed to protect the devices from security threats or to improve functionality. Failing to install these recommended updates can compromise the security and longevity of a device.

It is also a good idea to become familiar with all legitimate support options for each device. This could include places like the Apple Store, direct customer service contact information for various devices, or even highly respected community forums or YouTube channels that can help troubleshoot any potential problems.

Truly optimizing your technology budget does require a greater amount of time and effort than simply making purchases at will. However, this investment will ensure you are able to purchase higher quality items with greater frequency that will continue working at optimal performance for greater lengths of time.

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David Carlson

David Carlson is the founder of Young Adult Money. He is a nationally recognized speaker and the author of Student Loan Solution (2019) and Hustle Away Debt (2016). His opinions have been featured on such media outlets as The New York Times, The Washington Post, Cheddar, NBC's KARE11, and more.
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