Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek

Trending

Filed under: News

 

Why It's Okay To Strategically Splurge On Gadgets

Dec 26 2013, 2:11pm CST | by

Why It's Okay To Strategically Splurge On Gadgets

Photo Credit: Forbes
 
 

Perhaps the best gadget-buying advice I’ve ever heard was recently given to me by Brian Lam, who runs the gadget decision-making site The Wirecutter: “Don’t worry about the price. Instead, try to figure out how often you’ll use it, and for how many years, and then spread the cost over the total number of hours you’ll get from the device.”

In other words, Before you buy anything, use this one question to guide your budget: “How much do I plan on using it?”

Fact is, us consumers can be terrible at splurging. We’ll often spend way too much money on a product that we only use occasionally, and then try to pinch pennies on gadgets that are absolutely core to our lives or livelihoods.

As a writer who has covered the electronics space for years, I’m often struck by the inability of consumers to apply different logic to purchases involving gadgets that they use multiple times or hours per day, and ones that only occasionally serve any purpose. Splurgers often splurge on any product, no matter how much use they intend to get out of it, while bargain-hunters often try to pinch pennies on items that are absolutely core to their lives or livelihoods.

This thinking is wrong. We should all be splurging on products that we constantly use. For many of us, that means smartphones and computers, though folks in certain regions or professions may have other items that fall into this category. Everything else is occasional-use at best (the exception being products that operate in the background, and may actually save you money in the long run—such as the Nest smart thermostat). This is where you should look to save money.

Strategic splurging on quality products can make your life better, more productive, and save you money in the long run. Just make sure you do it on items you’ll actually use.

#####
Seth Porges is a writer and co-creator of Cloth for iOS. For more fun, follow Seth on Twitter at title="@sethporges">@sethporges, or subscribe to him on Facebook or Google+./>

Source: Forbes

You Might Also Like

Updates

Shopping Deals

 
 
 

<a href="/latest_stories/all/all/31" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

 

Comments

blog comments powered by Disqus

Latest stories

Tony Romo Confident Heading Into Week 1 of NFL Regular Season
Tony Romo Confident Heading Into Week 1 of NFL Regular Season
Dallas Cowboys head coach Jason Garrett told the media on Sept. 1 that his quarterback, Tony Romo, has "got that look on his face" and is confident heading into the Cowboys' Week 1 showdown against the San Francisco 49ers on Sept. 7.
 
 
Houston Astros Fire Bo Porter
Houston Astros Fire Bo Porter
The Houston Astros fired manager Bo Porter and bench coach Dave Trembley after the team posted a 59-79 record through Sept. 1. Adam Everett will replace Trembley while the search for the Astros' new manager begins immediately.
 
 
Tinder App Review
Tinder App Review
Tinder is a great mobile app for those who love making new friends. It's a fun way to make interesting people your friends. Just log in, swipe right to like or left to pass, and if the person likes you back, “It's a Match” for you. Making friends is a lot fun now if you are on Tinder.
 
 
SketchBook Pro App Review
SketchBook Pro App Review
Sketchbook Pro, as the name suggests, is a professional-grade design and illustration app. The app is appraised to be one of the best mobile apps for design, sketching, painting and illustration. This app is predominantly used by on-the-go artists, designers and illustrators. This app is also used by teens who are interested in arts and by children to practice drawing and painting in a way that is much more interactive than regular painting book activities. So on the whole, SketchBook Pro is a very productive mobile application that targets a heterogeneous audience.
 
 
 

About the Geek Mind

The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.

The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.

Read more about The Geek Mind.