Investing in technology: Save money by taking it slow

Investing in technology: Save money by taking it slow

Technology has come a long way over the past decade. It seems like an eternity ago since answering machines and dial up internet took the world by storm. 

 

These days we have smartphones, broadband, tablets and eBook readers. Anything you need to achieve in life can be helped via these technological advancements. 

 

There’s no denying that technology has enhanced the way that we live. However, there are some down sides to this technology boom.   

 
An expensive way of life

There was a time when very few people owned a mobile phone. Now you’d struggle to find someone who doesn’t have one. Children as young as two are even starting to use tablets and smartphones. The trouble is, they can be an expensive purchase. Most are taken out with contracts that cost anything from £20 up to more than £60 per month. The cost varies greatly depending upon usage and the features the phones come with. 

 

Mobile phones have definitely had a positive impact on our lives. Parents are now able to check in with their children throughout the day. Couples can also let each other know if one is running a little late. There are many circumstances where having a cell phone can come in really useful. It’s just the constant expense that starts to take its toll.

 

The thing about today’s mobile phones is that they are capable of doing many things. The days of using a mobile phone to make a simple phone call have long gone. These days you can find out directions to places you need to get to, find the closest restaurant and even take videos and pictures to send to friends and family. 

 

It was Steve Jobs who revolutionised the mobile phone market with the ever popular ‘iPhone’. Leading the way with millions of apps and accessories, the iPhone really set the standard for modern devices.

 

Are we too dependent upon technology?

The problem is, when you’ve experienced the benefits of this advanced technology, it’s hard to live without it. Have you ever forgotten your cell phone? It can feel like you’re missing a limb when you don’t have your latest gadget with you. In a way, you forget how to live without it. The same applies to cable TV. It doesn’t matter how often you watch it, the thought of getting rid of it seems absurd. 

 

A survey conducted by Nielsen found that 75% of homes in the US have the internet. This is a statistic that is increasing every day. Of course, like with mobile phones once you have internet in your home, it’s unlikely you’ll ever let it go.  

 

It can be argued that as a society we’ve become too dependent upon technology in our every day lives. 

 

The benefits of integrating technology at a slower pace

Our family has adopted an ‘integrate technology slowly’ approach. Now don’t get me wrong, we still have a basic cable TV package, a prepaid phone and the internet. However, when it comes to the latest gadgets, we take our time to invest.

 

The reason we do this is because it can save a lot of money. I plan on investing in a smartphone over the next year or so. This should save me a few hundred pounds compared to when smartphones first appeared on the market. 

 

Sometimes it really pays off to stick it out and wait for the prices to come down. Just remember that as soon as you introduce the latest technology into your life, it does come with recurring costs. You need to be sure you can afford these costs before you take the leap. 

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