Five Reasons to Wait Before Purchasing New Technology

There exists a pressure in the United States today to purchase the newest, flashiest technology that is produced. Constant advertisements on television, internet, radio, billboards, magazines, and newspapers can make it difficult to resist the temptation to buy new technology the minute it comes out. However, there are several valid reasons to wait six to twelve months, or even more, to make purchases such as these. In this article, I will detail five reasons why a person should exercise patience before making new technological purchases.

Reason to Wait Before Buying New Technology #1 - Bugs
Often after new technology is released, there are a number of bugs and glitches that require "fixes." Most products have these issues, and if you are one of the people that "must" have the latest hot product, you're likely to have to download several patches and fixes to these problems. If the problem is with the item itself, you may have to return the product and be without it for several months, all while paying the high initial cost. If you want to avoid problems such as bugs and the frustration associated with them, it is best to wait at least a few months before making new technological purchases.

Reason to Wait Before Buying New Technology #2 - Upgrades
The one aspect of technology with which most people find fault is that upgrades are made to technology every six to twelve months, if not more often. Items that are cutting edge at the moment will be surpassed very quickly. Some might ask if I am advocating avoiding technology altogether if this is inevitable. I am not. What I suggest is waiting until a product comes out that meets all of your needs and requirements. Then, wait several more months. This will allow for the price of the item to drop, for bugs to be fixed, and for you to make sure that the item is really what you want.

Reason to Wait Before Buying New Technology #3 - Support May Evaporate
In late March of 2006, Toshiba released the first HD DVD player. Less than two years later, Toshiba announced that it would no longer support the HD DVD format, a notice unwelcome to the people that first bought into the $500-$800 players. Waiting two years to buy a high-definition media player would allow one of these people to buy a Blu-ray player for less than $200, whose support continues to this day. This is similar to what happened with VHS and Betamax in the 1980's. In the event that support for a new piece of technology disappears due to low sales or better competitors, it's better to have not invested in the item right away. Waiting for a year or two is better to see which item still exists.

Reason to Wait Before Buying New Technology #4 - Financial Reasons
One of the biggest reasons to have technological patience is the fact that the prices of technological items go down relatively soon after their release. New game systems, such as the Xbox 360 or PS3, often go down in cost by about $100 or more after a year. Likewise, the games that were released concurrently with the system will be available for a lower price, and used games and accessories will be available as well. This trend is similar for most technological items

Another thing to consider is the above example of HD DVD. Not only was purchasing an HD DVD player expensive initially, but then it would be necessary to purchase a Blu-ray player after less than two years. This could bring the total investment cost well into the thousands of dollars, yet there would be no market to purchase the used HD DVD player or HD DVDs. Also, allowing the money that otherwise would be spent on a newly-released item to remain in a high-interest savings account for a year or two will allow interest to accrue. Depending on the price of the item, this could result in interest of possibly hundreds of dollars. By waiting a year to make your new technological purchase, you could easily save a considerable amount of money and accumulate interest on the money that you would've spent otherwise.

Reason to Wait Before Buying New Technology #5 - Self-Perpetuation
Many people define themselves in part by the "toys" they have - whether these are vehicles, pieces of artwork, or technological items, it is easy to allow this definition to self-perpetuate, resulting in the entrenching of the psychological need to purchase the newest and most expensive gadgets relevant to one's interests. Technological items tend to be some of the most expensive purchases that one can make, especially if they are new. Giving into the "need" to purchase these can easily cause extreme debt. It is best to resist the temptation to make hefty purchases and find better ways to define yourself. Save money and save yourself from being a slave to technology.

Some people purchase new technology out of necessity, while others make new technological purchases because they want to. Regardless of your reasons for buying new technology, make sure that you wait long enough before making a purchase so that you can save yourself money and trouble. If you have any other suggestions for why people should wait before purchasing new technology, or if you have any relevant anecdotes about technology, feel free to leave your thoughts and experiences in the form of a comment. Thank you for reading!