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Try these tech-saving tips.

Key Point

• Electronics can be expensive, but they are necessary in today’s tech-centric world.
• Instead of buying a new device, consider other ways to save money, such as buying an older model rather than the latest device or borrowing a spare phone from a friend.

Investing in the latest technology is attractive, but not always necessary. Whether you need to replace your phone, laptop, TV, or other electronic device, you can get a great device without breaking your budget. Here are some ways to save money on electronics so you can put it in.

1. Purchase an older model

Electronics brands want you to buy their latest gadgets. But don’t let their clever marketing tricks fool you. Buying an earlier model (or a few models back) will probably meet your needs and put more money in your wallet.

If you’re dealing with an unexpectedly broken phone or laptop, you’re probably feeling stressed. and in some cases is not possible.

If you don’t have the money and need to replace your device, see if a close friend or family member has a spare device that you can borrow until you can purchase a new one. By doing this, you can get a device that works without spending a lot of money right away.

Instead of trading it in when I get a new phone, I have the previous model just in case, so if a friend or family member needs to use it, I’ll be happy to give it away. I know.

3. Purchase a refurbished model

You can save money by purchasing refurbished electronics. Many popular electronics brands and retailers sell refurbished products at significantly lower prices than new models.

These devices have been used before and may have minor cosmetic imperfections, but have gone through a full inspection process to ensure they are in working order and ready for resale.

4. Check if a 0% APR loan is available

Many of us lack emergency funds and don’t have savings to buy replacement devices. Luckily, some e-retailers offer 0% annual interest loans to help you get your new device at a more affordable price. If you qualify for these programs, it can be a great way to split the cost of a new computer or phone rather than paying for it all at once.

Most of these funding offers are available to qualified customers for a limited time, so be sure to pay off your debt before the promotional funding ends to avoid paying interest.

5. Buy on sale

Many electronics retailers offer discounts on popular electronics during big sales. It pays to pay attention to deals and promotions and buy accordingly. Events like Black Friday and Prime Day make it easier for shoppers to save money on big purchases.

6. Get APR 0% credit card

Another option is to apply for a 0% annual rate credit card. If approved, you can use your card to pay for your new device and pay for your purchase over time. You can save money by avoiding interest charges.

Many people use 0% annualized credit cards to cover unexpected but necessary expensive purchases.

Again, keep an eye out for promotional terms so you can pay off your debt before interest accrues. You don’t want to pay more than you need or risk getting into credit card debt.

Next time you’re shopping for electronics, consider whether you can make a choice that saves you a few bucks while still getting what you need. Every time you save money on a purchase, it makes a difference and can have a positive impact on your bank account balance.

You’re not alone in trying to change the way you spend and manage your money. Check out our personal finance resources for more ways to save money.