Save on Technology for the Holidays

Mae is chatting with the Money Coach, Lynnette Khalfani-Cox, about ways to save  money on technology products this holiday season.

Sell your old iPhone and other tech: The average U.S. household owns 7 items of unused tech that are just sitting around their homes and not being used. Even though selling these electronics can net you many hundreds of dollars, a third of Americans don’t know that old tech can be traded in and recycled for cash. So if you’re eyeing a new iPhone, or even an Android device, don’t simply stash your old phone in a drawer. Instead turn it into holiday spending money by selling electronics online at sites like Decluttr.com.

Consider tech storage wisely: Should you buy an iPhone with 64 gigabytes or pay $150 more for 256 GB? Storage is a balancing act. If you don’t purchase enough space, you’ll get frustrated. But if you buy too much capacity, you’re wasting a lot of money. Before you shell out $150 for extra space, be sure you really need it.

Skip overpriced tech accessories: All the accessories that go along with the new tech aren’t cheap. Get online and comparison-shop on sites like Amazon or even at places such as Five Below for chargers, cords and other stuff to keep costs down. You can find some good bargains – sometimes for 50% to 75% less than what Apple charges for accessories.

Be alert for Internet flash sales: Free websites like DealNews.com track all the latest deals and discounts on things like TVs, home entertainment units, cameras, phones, tablets and other electronics. So be sure to sign up for their free email service and each day they’ll give you a heads up about special promotions, flash sales, coupons and other incentives that let you get tech at a discount or sometimes even free.

Win an iPhone or other gadgets: Some retailers offer contests that let you win new iPhones or other tech. Obviously, only a small number of people are going to win such contests. But if you just can’t afford to buy an iPhone on another expensive gadget you want right now or during the holidays, it’s worth a shot to enter a legitimate prize or contest sponsored by a company you know. Just Google the words “win” and the tech item you’d like to find ongoing promotions.