We’re now spending more money on technology than our traditional utilities. The average couple has 7 ‘gadgets’, a family of 4 has 11 pieces of technology – but just how many technological gadgets can we use at a time and does it make sense to keep adding more? Do we really need that many?
It’s critical for smart consumers to look at the “total cost of ownership” before they buy anything. It’s just like our homeowner message – make your purchases based on initial costs, ongoing operating costs, maintenance and replacement costs.
The True Technology Costs
You think you’re getting a great deal when you wait to buy your printer on sale. Prices range from $ 150 to $ 350, so saving a hundred dollars is a great deal. The reality is that you’re going to pay 5, 10 or more times the printer cost with the price of ink cartridges. They should give away the printers!Have you considered the cost of all the ink cartridges you’ve thrown away when buying a new printer? We focus on technology costs when we buy a new computer, printer or smart phone. However, we tend to forget the ongoing costs. For manufacturers, it’s all about smart packaging and printers are a great example – their profit is in the ink!
How much is your Monthly Technology Costs?
Technology costs include one – time charges like the purchase of a computer, smart phone and applications plus ongoing costs like cable and connecting to the Internet.
Let’s look at the typical technology costs for an average family that’s plugged in.
Consumer devices might appear to be your biggest cost but they’re just the first expense.
• Desktop computer
• Laptop computers
• Televisions are now digital
• Tablets and eReaders, in addition to computers?
• Electronic game hardware
• Smart phones and basic cell phones
• … and don’t forget the printers.
These devices require software and then you buy applications for work, for fun … and whatever you like spending your time doing. Some of this software is bundled with the devices or free, however free apps generally come with ads because someone needs to get paid.
Examples of applications you may need or want include:
• Operating systems like Windows
• Home office software like Microsoft Office
• Specialty software like Adobe for photographers
• Entertainment software, i.e. games, books and music
• … and smart applications for your phone, i.e. GPS.
The real expense is connecting your technology to the Internet because you pay month after month, forever. Consider:
• Cable television
• Some phones are now connected by VOIP like Vonage.
• Cell phone plans + data + text + whatever they dream up next …
• Internet service providers (ISPs) connect your home to the Internet
• Subscription services like Carbonite to back up your files online
It’s important that you keep track of these services you sign up for because before too long, you may find yourself burdened with hundreds of dollars in monthly bills.
So, when looking at that great new piece of technology – you had also better start thinking about how much it’s really going to cost you.
