It may be tempting to spoil yourself this holiday with a brand-new computer, but good things come to those who wait. Here are three reasons why you should put off this big purchase until some time later in the new year.
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1. It Gives You Time to Save
Fitting a new computer into your budget is hard at any time of the year, but the holidays are especially challenging. You’re already spending more than usual on the festivities, so you may not have any extra cash to set aside for new tech.
Pushing an upgrade to the new year can help you prepare your finances for a big purchase. You can set aside a little bit of cash each month until you can afford a decent replacement.
But what happens if your computer dies before you can save up what you need? Sadly, you’ll have to live without one until you save enough.
The only exception to this rule is if you need your computer for work as a freelancer or stay-at-home employee.
In an emergency, you can check out fast online loans that act as temporary substitutes for savings. A fast application process for your loans online means you may know if you qualify quicker than if you applied in person, which could help you get back to work sooner.
Online loans come in all shapes and sizes, including payday cash advances, installment loans, and lines of credit. To make sure you can afford the online loan you pick, do some research. Compare your lenders, rates, and terms just like you would review brands and specs before buying a computer.
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2. You Can Snag Post-Holiday Deals
Many of the biggest retailers drop their prices to clear inventory after the holidays and make room for new stock arriving later in the year. There’s also a good chance older models will drop in price as the more advanced models arrive on the shelves in January.
The longer you wait, the better the deals. If you’re flexible about when you can buy a new laptop, consider putting off the purchase until these holidays arrive to unlock even greater bargains:
- February: Valentine’s Day, Presidents Day
- May: Mother’s Day, Memorial Day
- July: Independence Day, Amazon Prime Day
3. You’ll Avoid the Worst of the Chip Shortage and Inflation
The global semiconductor chip shortage that started during the pandemic is still ongoing, as demand for these chips (found in everything from minivans to toasters) outstrips supply. According to the experts, supply and demand won’t balance again until 2023.
Coupled with a historic 6.22% inflation rate, this chip shortage means laptop prices are slightly higher than usual. You’ll have to pay extra to upgrade until these things level out.
Hopefully, you won’t have to wait long. Economists expect inflation to pop sometime in 2022 when it returns to the average of around 2%.
As for semiconductor chips, the supply chain is already ramping up to fix the shortage. AMD CEO Lisa Su told reporters during the 2021 Code Conference that “it’ll get better in 2022” as more plants open and start producing chips to meet demand.
New Year, New Computer
Patience is a virtue. And in this case, it can help you save money. Wait to purchase your next upgrade until some time in the new year. You’ll sidestep inflation, unlock sales, and give yourself more time to save.