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Getting Over Gadget Lust to Stop Losing Money

by Alice C. Woodhouse
June 18, 2009
Are you one of those who love owning the latest tech so much that you'd spend a huge chunk of money for a recently released gadget in the market? Well, you're not alone. The obsession is not conducive at all to help you put away money for the future. Here are some tips that experts share to help you get over "Gadget Lust".

1. Some people immediately get defensive and say that gadgets are an investment. The downside of this is that the "investment" they are referring to depreciates in a short amount of time, and even more so when newer versions become available for consumers.

2. If you're eyeing the latest, awe-inspiring Macbook Air for an upgrade in your good old notebook computer, stop. Getting a laptop that's worth more than a thousand dollar is not a very smart move. Remember that technology development is so fast that the moment you're purchasing it, Apple is already finalizing the plans of a better, faster, smaller, lighter laptop that will set the market buzzing.

3. Get rid of the "fanboyism" mentality. There are people who call themselves 'hardcore' Sony fans, buying whatever new (and expensive) things that electronics company makes. They don't do comparison shopping anymore, leading them to lose money that had they opted for other brands they might see a big difference the price tag between the tech items.

A good example of this is the 7th Generation Console wars between Sony PS3, Microsoft Xbox360 and Nintendo Wii. The three were released at approximately the same time, though the difference in console prices were humongous. Experts advised about getting the PS3 because there were problems in processing and memory storage, and the $600 dollar price was not worth it. They recommended the Nintendo Wii, costing just about half of PS3 and was solid in its sales. Sony fanboys all over the world opted for the PS3 despite the warnings, sticking to their love for the brand. In just a short time, these fanboys discovered major defects, costing them time, money and effort because of the purchase.

4. Limit your exposure! When you search for the item, go back to look at it everyday, you build up a desire and an obsession for that item. The next time you find yourself in a department store you may find yourself heading towards the electronics store ready to charge your purchase to your credit card! Limiting your exposure to the products is, in away, resisting temptation in a disciplined way. Avoid looking at gadget websites, advertisements in TV. If you know that the latest gadgets are your thing, why suffer by looking at it, torturing yourself with something you can and should not buy.


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Getting Over Gadget Lust to Stop Losing Money

 

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