As the economy tanks and a bigger chunk of the paycheck goes for necessities like food and housing, how can money be saved on electronics and communications? There are several ways to save money each month on technology, you just need to know where to look.
Do you really need the newest gadget the week it is released?
Early adopters pay dearly for the desire to be the first to have the "next big thing." Usually, new technology starts high then tapers off as demand wanes or fizzles out completely. Save yourself a ton of money and grief: wait six months. On the upside, you'll let others be the guinea pigs and work out all the bugs in the new gadgets in addition to saving hundreds or thousands of dollars.
Cancel Cable and Internet Service.
Yeah, this one hurts. But call your cable company and tell them you're having financial problems and may have to terminate the service. They may just allow you to continue on with a special rate for a few months. Hey, take any savings you can get and thank them profusely. Do the same with your Internet provider. If you can't get a better - even temporary rate, cancel the service and use free Internet around town, at the library or on campus until things get better.
Are you a candidate for Lifeline?
For some folks, a home phone is a necessity. For others, it's an unaffordable luxury. In the U.S., there's a program called Lifeline which makes landline phones available at very little monthly cost for those who qualify on income guidelines. The maximum incomes are actually quite easy for many to qualify under, so see if the program is available in your area. Don't jeopardize the safety of you and your family if a landline is needed in an emergency.
Save technology purchases for birthday and Christmas presents.
The best way to save your money is to let other people spend their money instead. Keep a running list of gizmos and gadgets that you want, update it throughout the year so that when parents or relatives ask you what you want for the next occasion, you're ready with a list. Take advantage of other people's generosity but be kind by giving them a range of prices.
Share a phone plan with an older relative.
Check into the options available from your cellular company and consider combining your phone with an older relative who is less chatty, but likes having a cell phone for the safety and security it provides. You'll share minutes, but when you share the cost, you'll both save money.
