How I Saved for an HDTV in a Year

Are you tired of watching the new government mandated HD television signals on your old television, but do not have the cash to buy a new HDTV? If you are willing to make a few small changes to your budget, you can have a new television in a year or less. Here are the changes I made to save enough to purchase one.

First, you need to do some research to determine which television you want to buy. There are lots of choices out there, so you want to know what you are getting. I have always liked Sony products, and I wanted a larger screen than I had before. I decided to go with a Sony Bravia 46" HDTV. Not too big, not too small, and under $1,000. While it is a good chunk of change, it is not too lofty of a goal.

Now that you know what you want, and have set a savings goal, start thinking of unnecessary things in your budget that could be cut out either temporarily or permanently, no matter how small. All of these things add up. My first item to cut was a subscription to HBO and Cinemax. It is nice to have these premium channels, but the reality was I only watched a couple of shows regularly, and only caught a few movies. This saved me $15 per month, for a total of $180 (18% of my goal).

Next, I sold some old stuff on eBay that was boxed up in my garage after a moved from my parents' basement, where it had been in boxes for over a decade. Basically, it was not being used and people wanted it. Vintage toys are collectible, and I had a large set of G.I. Joe toys from the 1980s. After subtracting fees and shipping costs, I was able to bring in an additional $250 (another 25%), for a new total of $430. With minimal effort, I was already nearly half way to my goal.

The next budgetary cut was my taste for eating out. I was spending $50 per month on mostly fast food. It was difficult to stop, but in the end it added an additional $600 to my HDTV fund, and put me over the top. This was also a healthy choice too, as fast food is not a great thing to eat as regularly as I was.

In the end, it was not that difficult to save for an HDTV. Budgets vary from home to home, but there is usually some wiggle room. If you can wait for a year, it will be easy. Mine cost less than my $1,000 budget, so I was able to boost my savings. Be sure to watch for sales and for products nearing the end of their shelf life. You can sometimes get a steal. Basically, it is up to you and how much you really want a new television. Find little sacrifices here and there in your budget, and the savings will add up in next to no time.

Enjoy your new HDTV!