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Technology can be an important part of our lives. After all, this is the information age. It’s important to not go broke when trying to keep up with technology, but it’s also easy to spend a fortune if you’re not careful.

Here are 3 tips to keep you up to date with technology, while keeping your finances in check…

Just Hold On a Second

I remember buying a 27″ non-flat screen television for $700. I also remember buying a 1.4 megapixel camera for $500. Those were actually good deals at the time. Everyone knows how fast technology is changing so why don’t we just hold on a second?

If you can wait a year or even a few months to buy the newest piece of technology, the price will drop substantially.

At our home, when the PlayStation 4 came out, we bought a PlayStation 3, for a steal! Not only are the older items cheaper because they are older, but many people who buy the new systems are trying to get rid of their old systems and they will end up selling them for next to nothing.

500 Terabytes, Really?

Ok…so I know you can’t really find a 500TB hard drive right now, but I am not exaggerating by much. Why would you buy the biggest, fastest computer, only to surf the internet and check your email?

Too often, we get caught up wanting the best of the best, when we really just need something to do the job.

Do your research to figure out what you really need. Don’t spend a fortune on something that doesn’t really suit your needs.

Keeping up with the Joneses, when it comes to technology especially, will absolutely ruin your financial progress.

Know Where to Go

Last, but not least, it’s important when you do decide what you need to buy, that you know where to get it. Shopping online is usually the best place to go for new technology and old. Here are a few great websites (that I personally use) when shopping for electronics online:

  • NewEgg.com – Primarily computers and computer parts. Also includes other electronics. New.
  • Amazon.com – All types of technology. New and used.
  • eBay.com – Auctions on all types of technology. New and Used.
  • TigerDirect.com – Similar to NewEgg, but a good for comparing prices. New.
  • SonicElectronix.com – Great for car, boat and home audio. New.