Technology seems to be changing faster than ever and sometimes it's difficult -- and expensive -- trying to keep up with all the advancements. And frankly, often times it's unnecessary trying to keep pace with fads that come and go so quickly. Some of us don't even try. And in the process, we somehow manage to continue living as a functioning part of society and save thousands of dollars in the process.
Don't get me wrong, I like flat screen televisions. But do I need one? Or more to the point, should I pay hundreds of dollars to have one when our current box version is working just fine? No.
We don't have a flat screen, and we don't have HD television, but we manage to get by just fine on a television we picked up for $10 at a garage sale and that is about a decade old. Can I see the individual blades of grass when we watch golf, or see the age lines on the television reporters' faces? No. But I'm willing to trade $300 or $400 to endure such hardships.
According to an MSN Money article, "Using a 32GB iPhone from age 21 to 75, buying a new phone every six years, will run you about $72,000. Compulsive upgraders and heavy data users would pay even more."
This equates to about $111 a month. We have a pay-as-you-go cell phone for emergencies that we pay $80 a year for, but otherwise our landline phone works just fine, and at about $30 a month, it saves us almost $1,000 a year compared to what we might spend using an iPhone.
Video game systems
With many gaming systems debuting at around $300, and according to an NBC News article, news games starting at close to $50, video games can get expensive in a hurry. And with new systems arriving on the scene every couple of years, upgrading or changing systems can get even more expensive.
This is why we've stuck with our old system that we bought nearly 10 years ago. Not only does it save us money on buying a new system, but the kids enjoy it and we can find games for under $10 -- often under $5 -- at places like Half Price Books, garage sales, and other resale environments.
As reported by the Federal Trade Commission, "A new car is second only to a home as the most expensive purchase many consumers make. According to the National Automobile Dealers Association, the average price of a new car sold in the United States is about $30,000."
This is a pretty hefty chunk of change, and it is the main reason as to why we have stuck with our 2002 model for so long. While a new car would be great in some ways, not only would there be the high initial cost of purchase, but it would also push our insurance coverage and registration fees higher as well.
We're content to put $500 to $1,500 into our older vehicle each year to maintain it rather than have to plunk down tens of thousands of dollars or take on vehicle payments that could double or even triple the amounts we pay for maintenance each year.
Between these four consumer options, we're able to save thousands of dollars each year by sticking with our "old school" options. While they might not be cool, hip or trendy, we're willing to sacrifice our images to save some extra cash.
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The author is not a licensed financial professional. The information provided in this article is for informational purposes only and does not constitute legal or financial advice. Any action taken by the reader due to the information provided in this article is solely at the reader's discretion.