How to update your tech on a budget

Is your phone slower than a servo line on a public holiday? Laptop on its last legs? Tablet barely hanging in there? With the cost of living climbing, plenty of us are hanging on to tech that’s seen better days.

You’re not imagining it – things really are getting more expensive. Smart’s cost of living report, Stretching Your Salary: How Australians are Managing Cost of Living Pressures^ , found that only 2.8% of respondents aren’t concerned about rising prices.

New tech can feel like a luxury when bills are on the rise. But tech isn’t a nice-to-have. Most of us rely on it for nearly everything, especially when it comes to work.

Outdated devices can mean apps that don’t work right, security headaches, and a whole lot of wasted time. So if you’re feeling guilty about wanting to upgrade, consider this permission to be a bit kinder to yourself.

But while cutting yourself some slack is one thing, making money appear out of thin air is another story. Here are our top tips for upgrading your tech on a budget, from buying second-hand to salary packaging.

6 smart tips for upgrading your tech on a budget

1. Buy refurbished or secondhand: Depending on what you’re after, there are often great refurbished or secondhand options out there.
2. Sell or trade in your old devices: Many retailers and telcos will let you trade in your old device for credit towards a new one.
3. Shop around and compare deals: Plenty of retailers offer price-match guarantees. It pays to be a bit of a squeaky wheel and ask for the best deal.
4. Make the most of seasonal sales: Think Black Friday, Boxing Day, or end-of-financial-year sales. Timing your upgrade around these events could save you a bundle.
5. Scour online forums and ask around: People love to share their budget-friendly finds.
6. Chat to your employer about salary packaging: If you use a personal electronic device for work more than 50% of the time, one option that could be worth exploring is salary packaging.

Salary packaging your portable electronic devices

Salary packaging is a way to pay for certain things (like some tech) using your pre-tax income.

Instead of waiting to get your take-home pay and then paying your bills, you might be able to set up an agreement with your employer and a third party (like Smart™) where payments for your portable electronic devices – like mobile phones, laptops or tablets – come straight out of your gross salary before tax is deducted.

Here are some lesser known benefits that can make your life easier during the cost-of-living crunch:

• Easier budgeting: Since your repayments come straight out of your pre-tax income, it makes budgeting way easier – your bills get paid before you do! 
• Automatic payments: When money is tight, every dollar counts. With automatic payments, you won’t risk any late payment fees, and you’ll avoid credit card fees, too. 
• More choice, less compromise: Salary packaging can help you say ‘yes’ to the things you need right now, rather than putting them off for later. 

Stop waiting to upgrade your tech

With a bit of thinking outside the box, upgrading your tech is possible, even in a cost-of-living crunch.

Whether you explore salary packaging or hunt down a smart bargain, there are ways to get the devices you need without blowing your budget.