Can You Hold Off On Technology?:

Let me tell you a story. In March of 2008, my Dad purchased a 46 inch Sony LCD television. He went for a full high definition at $3200. Last week or 2 years and 7 months later, a friend of ours purchased a 54 inch plasma (8 inches bigger) high definition for $1800. He even received a Blu-ray player thrown in. This is a saving of $1400 plus a free Blu-ray. If you look at this over the total time between the two purchases, he saved $45 for each month he waited. Plus 3.22% each month and a free Blu-ray player.

Technology will never stop getting better. And every time it does get better, the older technology gets cheaper. If you are looking at a Television, computer, laptop, Blu-ray player or recording TV hard drives my advice is to wait as long as you possibly can. Due to a law called Moore's law, which states that technology should double in speed every 2 years, today's technology is tomorrow's bargain. To put this in perspective. In 1999, the cheapest DVD player you could purchase was $1000. Now ten years later, the cheapest you can purchase is around $50. A 95% drop in price for a product that does the same thing.

If you are thinking of upgrading any technology. Can you hold off? What type of product will you get in 12 months time for the same price? Will you be better off waiting? Just something to think about.