Since technology has taken the front seat and driving the world for the last 3 decades we are more becoming lenient towards technology in form of computers, Mobile, and other electronic gadgets. However, it's the demand of current time to learn and use the technology to be relevant and updated. But it becomes more like addiction and excessive use of gadgets and mobile make our life jeopardize.
the mobile phones become a status symbol these days and it attracts millions of customer with cutting edge features and style. everyone wants to get a premium feel in their hands and moreover show off the luxury, it's very casual among youths these days. but the problem lies when you following the trend without analyzing your need. these days it's very common to spend thousand and sometimes lacs of rupees or dollars on purchasing mobile phones. and that of course mostly for show off purpose. if you go through the requirement you need to fulfill through your phone then you find that most of us can settle ourselves with budget smartphones since it offers almost all the features we need to use in our daily life, be it surfing on social media accounts, clicking pictures, capturing videos, playing games and surfing browsers. so why you need to spend a hefty amount to have a decent premium class mobile phone? 99% of the answer would be because you need to look rich and get attention. it still manageable if you have enough money to spend on luxury phones but if your income does not allow you to spend on premium phones and still you are spending money purchasing these items through lucrative schemes like EMI or with other credit channels that you have to pay later with interest, then its called show off, it will only raise your problem financially.
Mobile companies like Apple, Samsung do offer premium features on their high-end mobile phone but they charge a heavy amount for their products. people especially the young generation have a die-hard crush for Apple products, especially the iPhone leading the chart. Even Samsung has varieties of phones ranging from lower budget to premium segment mobile flagship phone like the Note & galaxy series. Mobile companies like Apple, Samsung, Oneplus, etc. know where they have to work to get the business and they target a majorly youth audience. they are spending lots of effort and money to attract buyers through their lucrative offering and schemes. this is actually a Trap, they design the campaign to feed you in mind that if you don't have a premium phone in your hand, you are lagging behind and don't look 'cool'. This 'COOL' quotient works like charm for mobile companies because from their ad campaign they continuously make you realize that holding a premium brand works like magic, girls attract to you, you can click better pictures, and it gives you confidence. they even hired renowned actors, cricketer, and athletes to promote their brand because these celebrities hold a large fan base and they use their influence to boost the brand they are associated with.
so what is the solution to remain financially buckled up while purchasing a smartphone? the problem arises when you spend more than your limit, and it applies to all the categories you purchase. first priorities your use. your salary or money you earn from any source plays a key role before buying. for example when someone starts a job and earning a salary of 20000.00 INR but purchases a mobile phone that costs him 40000.00 INR means that the person is creating a debt trap for himself. since he has to pay more than what he earns he will definitely choose the EMI option that will take a part of his salary every month with interest or he will pay from his savings that he must have saved from his salary. so spending your hard-earned money on any depreciating asset where you are paying more than what you earn is only make you financially weak and debt-ridden.
it's always advised that save from what you earn and spend less than what you saved. there's nothing wrong with buying a gadget you love but make sure that you must have saved enough that when you spend it that doesn't hurt you financially. I would like to end this article with a quote from the book 'rich dad poor dad' that says "The wealthy buy luxuries last, while the poor and middle-class tend to buy luxuries first. Why? Emotional Discipline."
image courtesy: google & moneycontrol
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