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by Natasha Gabrielle | Published on Oct. 28, 2022
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Try these tech savings tips.
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While investing in the latest technology is tempting, it’s not always necessary. If you need to replace your phone, laptop, television, or another electronic device, you can get a great device without breaking your budget. Here are a few ways to save money on electronics so you can get what you need while honoring your financial goals.
Electronic brands want you to buy the latest gadgets because they make money when you do. But you don’t have to fall for their clever marketing tricks. Buying the previous model (or even a few models back) will probably meet your needs and can help you keep more money in your wallet.
If you’re dealing with an unexpectedly broken phone or laptop, you’re probably feeling stressed. When we rely on electronic devices in our daily professional and personal lives, it can be an adjustment to live without them, and in some cases, it may be impossible.

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If money is tight and you need to replace your device, check to see if any of your close friends or family members have a spare device you can borrow until you can afford to buy something newer. By doing this, you can get a functioning device without having to spend a lot of money right away.
Instead of trading in my phone when I get a new one, I now hold on to the previous model just in case, and I know that if a friend or family member needed to use it, I’d be happy to pass it along.
You could save money purchasing refurbished electronics. Many popular electronic brands and retailers sell refurbished devices at significantly lower prices than brand-new models.
While these devices have been previously used and may have minor cosmetic flaws, they go through a thorough inspection process to ensure they’re working well and ready to be sold again.
Many of us lack emergency funds and don’t have money saved up for a replacement device. Luckily, some electronic retailers offer 0% APR financing to help make getting a new device more affordable. If you qualify for these programs, it could be an excellent way to spread out the cost of your new computer or phone instead of having to pay for the expense all in one go.
Most of these financing offers are available to eligible customers for a limited time — so make sure you pay the debt off before the promotional financing ends to avoid paying interest.
Many electronic retailers sell popular electronics at a discounted price during big sales. It can be beneficial to pay attention to deals and promotions and time your buy accordingly. Events like Black Friday and Prime Day make it easier for shoppers to save money on big purchases.
Another option is to apply for a 0% APR credit card. If approved, you can pay for your new device with the card and take your time paying off the purchase. You’ll save money by avoiding interest charges.
Many people use 0% APR credit cards to cover unexpected but necessary costly purchases.
Again, pay attention to the promotional terms to ensure you pay off the debt fully before interest kicks in. You don’t want to pay more than necessary or risk falling into credit card debt.
The next time you find yourself shopping for electronics, consider whether you can make a choice that allows you to get what you need while also saving a few dollars. Every time you save money on a purchase, it makes a difference and can positively impact your bank account balance.
You’re not alone if you’re trying to change how you spend and manage your money. For additional ways to save money, review our personal finance resources.

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Natasha specializes in credit card and rewards content. Her goal is to encourage more people to experience the world around them while making smart financial choices.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
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