We live in a very exciting era for consumer electronics – it seems like new solutions, designs and gadgets are waiting just round the corner. If you follow the advancements in technology and want to put every brand-new electronic gadget into the test, you may find yourself on the horns of a dilemma – how to afford the most innovative technology without blowing up your savings. We have crafted a list of ways that will help you tackle this moral conundrum, so read on to find out what they are.
Make more Money
When was the last time you asked for a raise at work? Or have you ever taken up a side hustle to make some extra money? In order to spend more, you – obviously – need to make more money, so get into the mindset of maximising your income first. If you are into electronic innovations you can start a blog or a YouTube channel dedicated to reviewing the newest products on the market. It may require you to study web design, content creation or video editing, but it is one of the best sources of passive income that you can earn from the convenience of your home. As an added bonus, you will be making money off of the thing that you love, so do not hesitate and reach out to technology companies and ask if they are interested in sponsoring your posts or videos.
Sell Unused Items from your Collection
Just like every other enthusiast, you must have items in your collection that no longer add value to your life. It may be an iPhone you bought for your first salary, or a VR set purchased on sale a few years back. They may be there for sentimental reasons, but truth be told they are just gathering dust or taking up valuable space in your drawers. If you never plan on using a certain gadget, think about passing it onto someone who will truly enjoy it. There are multiple online auction sites such as eBay or classifieds platforms such as Craigslist where you can successfully sell your belongings and use the profits to invest in something that will spark joy back again.
Save and Invest Wisely
As soon as you put some money aside, do make sure that you are allocating it wisely. There is no point in keeping spare cash in your drawers, as it will only lose its value due to inflation. Instead, you can open up a dedicated savings account that will fund your next big technology-related purchase. Another great way to maximise your savings is to invest in the stock market or learn to trade. Contrary to popular belief, you can start investing, even if you do not have much money.
Budget
Smart budget is the foundation of every well organised household. Take a closer look at your personal finances and categorise your spendings. You can also track impulse buys that make you lose money in the long run, like that latte every morning or a glass of wine on your way back home from work. If you plan your spendings wisely, you will undoubtedly find the money that could go into financing your passion for the newest technology. Every time you get a paycheck, you can also set aside a small, specified amount into a sinking fund dedicated specifically to buying new consumer electronics.
As you can see, there are multiple techniques that will help you find some extra cash to finance your technology purchases. Some of them may even turn out to be life-long