Be patient and save - MoneySense

Be patient and save

Being an early adopter of new technology comes at a cost. Wait it out to save money.


If you’re in the market for high-tech gizmos, it may pay to wait a few months since the prices of some gadgets are falling fast.

Blu-Ray Players are on the list. If you haven’t yet embraced this toy, you can expect to see prices come way down this year. Ditto Kindles, which have already dropped by almost 50% and are headed even lower; when they hit $99, I’ll finally buy one. As for big-screen high-def televisions, you can expect them to fall like stones too.

The lesson here is that having a little patience can save you big money, money you could be saving. If you’re one of those who have to be the first guy on the street with a new whatcha-ma-call-it, stop and think. If you can make do with the version you have now for a few more months, or even a year, that could end up saving you a lot of money that you could use to boost your savings. You still get your toy; just not as soon as it’s released.

The other thing to keep in mind is that as soon as a new version of a gadget comes out, the older model goes on sale. When the iPhone 4G came out, the 3G’s price dropped by half. That’s a great time to buy…the older model…and save big-time. If your ego can stand the comment from family and friends about your “old” technology, you’ll end up laughing when you look at your bank account.

Bragging rights for early adopters don’t come cheap. If you’d rather put the premium you’d pay in the bank, have some patience. Wait and save.