The Gadget Purchase Rule

What's Next For YOU To Buy!

I'm an avid gadget-news follower, but I don't really buy them. I've mastered the skill of waiting. The wonderful thing about gadgets is if you know what's coming next, and the one after, you'll be able to delay gratification. I've wanted an Apple computer for a long time. Maybe since 5 years ago. Every year I've successfully waited for the next Intel chip, and the one after it. However, since all those years, I've not saved up any money for my purchase. Which is a terrible waste of time and money I could have saved.

I've created "The Gadget Purchase Rule" for people who, like me, love gadgets and would love to purchase them. The rule determines which gadget is affordable within your means.

It's a very simple rule;

price of gadget/20% = amount needed to save

After succeeding to save the amount, you will be able to take 20% of amount saved as a reward to purchase the gadget. Also an additional rule, if the gadget is updated yearly and you plan to update yearly, you'd have to save that amount yearly.

Example, An unlocked contract free iPhone, $649/20% = Save $3,245. You'll have a savings of around $2,596 and an iPhone as your reward. If you'd like to upgrade yearly to a new iPhone, you need to save $3,245 every year. If you can't do that, then it is not a phone within your means.

Another example, I'd like to purchase a Mac Mini. $799/20% = Save $3,995. I plan on using it for a good 3-5 years before upgrading. I'd need to save $3,995 in at least 3-5 years and finally deserve to have it.

It might sound too extreme at first, but really that is the challenge to not only delay gratification but also build up savings. Because we should treat our savings like trees, plant when there's too few, but when in abundance, it does not mean we can cut and use it all.