How I Plan to Save for My Next Tech Purchase

Over the past few months, the writing has been on the wall: it’s time for a new laptop. My trusty iBook died and is no longer serviceable by Apple. My older PC laptop is slugging along and seems to get slower each time a program is opened.

Unfortunately, I don’t have the money to replace my ailing laptop immediately and am instead setting aside money and saving for the purchase. I’ve decided to save money by forgoing a new MacBook because at $1,199 plus $249 for the extended warranty, it’s just more money than I can spend. Sure, Macs are nice, but you can get a comparable PC laptop – with a similar 2.4 GHz i5 Dual Core Intel processor, 4 GB of RAM, and 500 GB hard drive for substantially less. I’ve set my eyes on the Dell Inspiron 14R laptop that offers an almost identical hardware configuration. Yet with Dell’s extended warranty, it comes out at under $800 – substantially less than the Apple MacBook Pro.

Saving for a new laptop

My strategy for saving for tech gadgets has always been simple: save up the cash to pay for them. Buying on credit is always a bad idea and if there is an unforeseen expense, that year of “zero percent interest” you enjoyed may turn out to be a major financial mistake.

Many people have difficulties saving money, but it’s really not that hard. I find that it works best to set aside money from each paycheck for your new tech purchase. For example, I have been setting aside $75 per check. That way I will save enough for my new laptop in about four months. It takes a little bit of time, but it assures I will be able to pay cash for this major purchase (always a smart idea) and gives me time to do additional research should it be needed. I like to look in tech magazines (such as PC World) and do online research before I buy, in addition to looking at the various side-by-side configurations offered on manufacturers’ websites.

Saving for tech gadgets is also made easier by trimming your expenses. Do you have a habit of buying a coffee everyday at work? If you buy a latte from Starbucks everyday, you can easily be spending almost $100 per month on coffee. The same goes for eating out. The easiest way to eliminate unnecessary expenses as a means for saving for tech gadgets is to create a budget. Identify essential purchases and unnecessary purchases and work towards eliminating those that aren’t necessary. By doing this, I am able to allot more money to my new laptop

Looking for discounts

When thinking about saving for tech gadgets, many people look for the obvious discounts. These include using coupons, buying online, or buying in bulk. Those approaches can yield savings, but they don’t typically result in substantial savings on tech gadgets. For the most part, the best approach is simply saving for tech gadgets and assuming that there will not be major discounts.

That said, I have found one way to find good discounts on laptops. Check with your employer to see if they have some sort of institutional or company-wide discount program. For example, many students, faculty, and staff at colleges and universities can get discounts on laptops from Dell and Apple. Other employers – especially government entities – offer similar deals. For example, one of my local hospitals offers a range of discounts for employees including discounts on laptops. Your HR department should be able to provide you with more information

Similarly, members of the American Automotive Association (AAA) can also save on Dell laptop purchases. AAA offers substantial discounts on Dell products including up to 30% off of select models. It’s a great way to save on tech gadgets.

Towards the purchase

By setting up a budget and setting aside money for your tech purchase, you should find yourself with enough money to pay cash for your new gadget. Similarly, by looking for institutional discounts, you just may find that you can buy that new laptop much quicker thanks to an unexpected discount.


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