On Friday, in the midst of a rate-induced frenzy that brought hordes of consumers to Paniek-Buy iPhones, President Trump announced a tariff exemption on electronics such as smartphones and computers. Just widespread fear about a potential iPhone of $ 2,000.
But two days later, the Trump administration said that smartphones and computers would probably be hit with new rates that are aimed at semiconductors or chips. Expensive iPhones can still come! Talk about whiplash.
No panic. Even if the rates were to increase the price of the iPhone, we would have much cheaper options, such as buying the telephone model from last year instead of the latest and best.
The most important lesson we can learn from the unrest: the only consistent way to save money on technology is to use devices for as long as possible, which should be maintained as you would do a car, and only upgrade when you need to.
“Buy the best and drive it in the ground,” said Ramit Sethi, an expert in the field of personal finances. “Holding that item longer will reduce the total ownership costs.”
There is a lot of uncertainty about future costs of technical hardware in general. This month, Nintendo has canceled plans to start taking orders for his game console, the $ 450 Nintendo Switch 2, to evaluate the impact of rates and availability. The costs of some accessories, such as telephone drawers, electric stones and cases, have already risen on Amazon.
Here you can read how you can navigate technical purchases in the future.
Hold on to devices to save money
The best way to save money on technology is easy to replace your devices less often.
To understand how personal technology influences your finances, you calculate the real property costs, Mr Sethi said. Every time we buy a new phone, we ultimately buy more than that. Extras such as a protective cover, additional data storage to contain more photos and apps, and add an accessory such as a power loader or earplugs.
Take the iPhone 16 as an example. The price tag of $ 800 can easily blow up up to $ 1,080, because you can also buy:
Your total property costs for three years would be around $ 30 per month. You can then exchange your phone to compensate the costs of a new one, but those savings would be re -shaved by the next phone cover and other extras.
On the other hand, if you bought the phone, together with those extras, and held it to it for six years, the total ownership costs would shrink to $ 15 per month.
The same principle applies to other devices such as computers and tablets: the longer you hold your assets, the more value you squeeze out.
Maintain your technology just like you would do a car
Tech products were built as high -quality investments in the long term, similar to cars. Many modern smartphones, tablets and computers are designed to last six to 10 years. But most of us still buy new phones every three years, according to Chetan Sharma research, a consultant for telephone operators.
A common habit is largely the fault: we neglect to replace the battery, said Kyle whose, the Chief Executive of IFIXIT, a company that offers instructions and parts for repairing electronics.
Similar to car tires, relegate telephone batteries and must be replaced after a certain amount of use, approximately every three years. An outdated battery has a direct influence on the speed and life of the phone. But the process of opening a smartphone to remove a glued battery can be intimidating and buying a new phone feels easier than visiting a repair workshop.
This is just as good as always to make the replacement of batteries a new habit. In recent years, Apple, Google and others have considerably improved their smartphone designs to replace batteries more easily.
For example, I used a hairdryer and cheap hand tools to melt the glue around my iPhone 14 and open it to replace the battery in less than an hour. It only cost around $ 50.
Apple and many telephone repair workshops also do battery replacements for around $ 100; Apple will replace an outdated battery for free for iPhones under warranty.
The repair costs are also expected to shoot because most technical parts, such as batteries and screens, come from China, according to three repair workshops that I have interviewed. But even if a $ 100 battery becomes a $ 150 battery, it will be much cheaper than replacing an entire device, Mr. said. Whose.
Buy a used phone
Recent tech panic purchases were partially driven by estimates of analysts who speculate that rates could increase the costs of some iPhone models to $ 1,300 to $ 2,300. Apple refused to comment on whether rates would influence his iPhone prices.
But even in the sausage case scenario we would have much cheaper options, just like we do when shopping for cars.
Car winkers are well aware that they never have to buy the most recent model. They can look for used options or buy the model of a last year for much cheaper. About 76 percent of the cars sold in the United States are used, according to data published by consumer affairs. Only 5 percent of the phones are purchased in renovated condition, which means that the products were used before they were restored to a new state, according to research by Back Market, a site that sells renovated tech equipment.
Lauren Benton, a general manager at the back market, said that concern about rates seemed to float consumers in the direction of older telephones. The sale of a renovated iPhone 15 Pro, which was released for $ 1,000 in 2023, had risen considerably on the site last week, she said. The renovated telephone sells for $ 639 and has a better camera than the latest $ 800 iPhone 16.
Even if the rates increase new telephone prices, the value of your older phone will also rise and the trading in costs would considerably compensate, said Mrs. Benton.
This is all to say, not afraid of the hypothetical iPhone of $ 2,000.
And let's be honest: if you are worried about your personal finances in the current chaotic state of the economy, you would probably have to think about more important problems than telephone upgrades, such as your emergency saving fund, Mr Sethi said.
“These discussions remind me of someone who sees their entire house on fire, and what they do is calmly change their shoelaces,” he said. “Panic buying an iPhone is number 662 on the list of things I would do.”
