Technology is changing quickly with more new and innovative products being launched every month. Connected devices like Google Home, smart phones, voice activated televisions or wearables are being designed so regularly it can be hard to keep up.
This is both good news and bad news when it comes to affordability. Luckily, the cost of producing new technology is getting cheaper as the world gets better at it, which means you get more tech for every dollar you spend. The downside is that keeping up with the latest trends, apps, and features can mean upgrading more often. So, here’s how to get the latest tech products on a budget.
Know what you want
While having big brands, top-of-the-range features and quality means it may take longer for the product to become outdated, this could mean a more expensive product.
Think about the key features you want in a product and do your research up front. This will help you make sure you compare the features of different models that are actually important to you.
For example, when it comes to smartphones, if you take lots of photos, but don’t care about functions like fingerprint sensors, make sure you pay more attention to the quality of the camera, and avoid paying for things you don’t need.
Computers and laptops can have even more options. Speaking to someone who specialises in computers can help you narrow down what kinds of features and functions you need for how you’ll use your new computer.
While comparing, include any accessories you’ll need, delivery costs and warranties and take advantage of price match guarantees. Signing up for email newsletters and alerts means you won’t miss special offers and promotions when they come up.
Buy a known brand from a reputable store
As much as we all love a bargain, paying bargain basement prices for technology can land you in hot water, meaning you'll need to spend more money on a replacement sooner than you’d like. Don’t get fooled by a seemingly cheap price tag on a brand you’ve never heard of, when there are many affordable ways to buy technology from a trusted brand. A good retailer will also be able to offer you certain warranties and support options, and be easily contactable if you have any issues with your technology once you get it.
Consider alternative finance options
When renting there are options that enable you to upgrade to the latest model every 12 months without having to pay for the product outright each time.
Or if keeping the product is important to you, there are rent and keep it options to consider.
If you have a deposit saved, interest free could be an option. With interest free you won’t pay any interest during the term you choose and can spread the cost of the goods out over time. Be aware though, with interest free there are often monthly account keeping fees and / or one-off application fees.
Understanding the different payment options available means you can get the products you want and choose what’s best for you and your circumstances.