How to Budget Purchasing Refurbished Electronics, Gadgets, Smartphone

Purchasing Refurbished Electronics

Most essential guide to budgeting for purchasing refurbished electronics like gadgets, smartphones, laptops, tablets, and accessories, etc. Electronics play a large role in most people’s daily lives; whether they are used for work, play, study, or a combination, these devices are crucial to modern-day living.

However, they also come with a high price tag, which can make it challenging to know how you will finance your next purchase. What’s more, as technology continues to evolve, new and updated models are released with additional upgrades and innovative features.

With all the options, how do you ensure that you can have the electronics you need (and want) without breaking the bank?

From creating an electronics fund that works for you to the benefits of buying refurbished phones in the UAE. Read on for the essential guide to budgeting for purchasing refurbished electronics.

1. Make a priority list

With so many types of electronics on the market and new options continually being released. It can be hard to know what you genuinely need versus what you merely want. While there is nothing wrong with treating yourself to exciting gadgets, if you’re going to stay on top of your electronics budget, it is crucial to make a priority list. With this list in hand, you can reduce the risk of impulse purchases and make sure you have the necessary funds to buy the electronics that will bring you the most value.

For example, you might be in urgent need of upgrading your laptop or smartphone, and that is the main priority. Alternatively, you may be saving up for a high-quality camera or video recorder to take on your upcoming holiday. Perhaps you have a particular hobby that requires electronics, and you have your eyes on adding to your collection.

In other words, everyone’s priority list is going to be unique to them, and only you can determine what takes the top couple of spots. However, a good rule of thumb is to focus on items and features that you require regularly, rather than all the additional bells and whistles that you will never get around to using. This mindset will help you to have all your needs covered, while not wasting money on unnecessary expenditures.

2. Create a savings plan

Now that you know your priorities, you can start to create a savings plan for making the purchases. While it does largely depend on your disposable income and the items you are planning to purchase. In most situations, buying electronics is a planned decision that requires some budgeting.

The key to budgeting for significant expenses (such as electronics) is to be conscious of how you are spending your income and the amount that you can comfortably put aside to build up a fund. For example, let’s say you want to purchase a $2,000 laptop. You may want to save $200 a month for 10 months to ensure that you can comfortably make the payment. Alternatively, you can have a small recurring amount that you put into an “electronics fund” to be used when necessary. 

Looking at reducing other aspects of your budget will help you to save the funds you need. This is particularly helpful if you need to purchase a short time frame or if you are conscious that one of your electronics is coming to the end of its lifespan (which they all inevitably do).

3. Consider refurbished options

One of the best ways to stretch your electronics budget is to consider refurbished options from reputable retailers. Purchasing Refurbished electronics are undeniably the most cost-effective option. As you can get items for around 30% less than their new counterparts. This level of savings makes it easier to justify electronics purchases and means that you can move through your priority list faster than if you were to buy them all brand-new.

Unlike “used electronics,” refurbished electronics are put through rigorous testing to ensure that they look and function as close to their original state as possible. In many cases, refurbished electronics are sold in like-new conditions thanks to professional technicians who have fixed and reconditioned them. Reputable retailers are confident in the quality of their products and therefore offer generous return policies and lengthy warranties.

Whether you want to buy a refurbished iPhone or some other electronic device, you can filter the options through a grading system. All reputable retailers will grade the products so that you know how close to “brand-new” they are. It is always recommended that you purchase items that are of the highest grade; however, if you have a smaller budget, you may be more inclined to opt for a second or third-tier device.

4. Buy quality accessories

Most electronics require additional accessories and other parts to function correctly. These may include cables, cases, memory cards, batteries, screen protectors, and headphones, all of which are crucial to have.

While you may be tempted to purchase cheap, low-quality versions of these items from off-brand manufacturers, it is not recommended as they frequently break or don’t operate properly from the beginning.

Instead of having to replace these low-cost items continuously, it is advised that you opt to spend a little more money on quality accessories that you can be sure will have a long life span and won’t damage your electronics.

Purchasing first-party accessories are the best option as they are designed and manufactured with a particular device in mind. However, in some cases, third-party manufacturers produce a wider array of products, especially in categories such as cases, screen protectors, and Bluetooth accessories.

As with all electronics-related purchases, you want to do your research before buying a third-party-manufactured item. Look through customer reviews to see how the accessory has fared for them. While reading, pay attention to any mention of unsatisfactory experiences. The generic nature of these products can often impact their function. Additionally, double-check that it is compatible with your device and that there is a return policy that includes refunds.

Are you a big spender when it comes to electronics? or Purchasing Refurbished Electronics.

Do you like to have all the latest gadgets, or do you tend to stay with the same items until they fall apart?

How do you budget for these purchases? Let us know your tips and any additional insights in the comments below!

AUTHOR BIO

Mirza Saqib Habib is the Business Manager at Dubai-based Teckzu. The perfect one-stop shop to discover, browse, and buy new and refurbished electronics such as smartphones, tablets, laptops, and accessories. Mirza comes from a strong E-commerce background with over 6 years of regional experience. He has helped kick-start many startups in the past and is passionate about using technology to facilitate seamless digital user experience.