Technology becomes outdated, hardware starts to slow down, and sometimes we just get bored with what we have. When those situations arise, it’s time for a new tech purchase. I find myself in the position of needing a new laptop. I have lofty goals for what new laptop I want, so I need a solid plan for how to pay for it without incurring any debt.
So, what is my next tech purchase? A 17″ MacBook Pro. Currently, I have a 13″ MacBook. It’s a pretty simple laptop and has served me well for 3 ½ years. Now there are cracks around the screen and sometimes it sounds like it’s going to blow up! Time for a newer, faster laptop to run my new business: Health Coaching.
Why the 17″ MacBook Pro? At first it sought out this particular laptop because it has 3 USB ports. Having only two can be crowded. But with an inexpensive USB hub, that problem is solved. That leaves 2 main reasons for this computer: the 17″ screen and its lightweight size. And if you’ve ever carried around a heavy laptop or tried to watch Netflix on a 13″ monitor, then you see the need for the larger screen!
Here are the important specs of my prospective new laptop:
2.4GHz quad-core
Intel Core i7
4GB 1333MHz
750GB 5400-rpm
Intel HD Graphics 3000
AMD Radeon HD 6770M with 1GB GDDR5
Built-in battery (7 hours)
The original price of the computer, without the education discount, is $2499. But I only need $2299. With the addition of Apple Care (the really cool 3 year warranty), iWork, the productivity software (think Microsoft Office but fewer crashes) for $71, and sales tax of 6.5%, I have a grand total of $2779.
In twelve months I need $2779. Let’s round that to $2780 for a brand new MacBook Pro. If I divide that number by 12, then I need to have $231.67 per month. Let’s round that to $232 ($2784).
Here’s the plan:
1. Take $100 from my budget and place it in a special savings account just for this purchase.
2. Use my part time jobs as a dance instructor and group fitness instructor for the remaining $132.
3. Search the refurbished section of the Apple store to find used laptops at a lower cost.
When I have reached my goal, then it’s time to go shopping!
There is a bonus step: I start seeing clients next month for my business as a health coach. As I take on more paying clients, I am able to save more money. By saving just 10% of that money, I can get my new laptop faster. How much faster? The average cost for a client is $150 per month. Ten percent of that is $15. If I can secure just seven clients at that rate, That is an extra $105 per month to put back into the business and buy my computer. With that extra money, I can purchase my new laptop in only a little over 8 months! That’s exciting!
So, let’s review the plan:
1. I recognized my computer needs and researched laptops that would fit.
2. I took the time to explore all discounts; in this case it was an educational discount.
3. I added up the cost of the computer, Apple Care, software, and sales tax.
4. I took that total and divided it by 12 in order to see how much I need to save each month.
5. I looked at where the money would come from in order to save the same amount each month ($232).
6. I acknowledged that an increase in income would accelerate my timeline.
7. Remember to check for refurbished laptops at a lower price.
It’s pretty simple once you take the time to make a plan. So many times our tech purchases, which are pretty major purchases, are left to chance, impulse, or the “emergency” need to replace something. Though I am planning for a replacement, you should as well. Look at your tech needs and see what you will need to budget for in terms of replacements.
Sources:
MacBook Pro
MacBook Pro in the Apple Store