11/04/2021
Consider the factors that affect why you want to buy more expensive gadgets. Could it be because you feel the need to keep up with your peers? Could it also be the temporary feeling of satisfaction you get when buying a new gadget? Do you need it for work? Sometimes, it is not an issue of buying an expensive item but an issue if it is a wise thing to do, especially when your finances are not yet that ideal. Also, note that gadgets do not increase in re-sale value and depreciate fast because that is the nature of technology.
There is nothing wrong with buying top-of-the-line gadgets when your savings and cash can afford them. You can get the latest gadgets when your multiple streams of income are already earning money. This can justify your getting the latest model since the amount will just be a fraction of the total earnings that you get per month.
People always say that finance advocates like me are cheapskates or βkill joyβ and that we do not find pleasure on spending on wants. Thatβs not true. Personally, I still buy wants because I like to reward myself or other members of the family from time to time and it can be a source of motivation.
However, buying wantsβand gadgets are definitely one of themβis an issue of propriety and not an issue of buying or not buying. Buying wants should be dictated by your objectives and your cash flow. Always remember that balance is key.
And remember, you should be known for your work ethic and not for your gadgets. Make yourself valuable because of your skills and your behavior and not because of your material possessions.
Hereβs a brotherly advice: Spend on wants occasionally, but save consistently. You will thank yourself in the future.
