In an age where technology rapidly evolves, keeping up with the latest gadgets can be both exciting and financially draining. However, upgrading your tech doesn’t have to break the bank. Here are five savvy strategies to upgrade your gadgets smartly and economically.

1. Buy Refurbished or Certified Pre-Owned Devices

Smart Savings on Like-New Tech: Refurbished or certified pre-owned devices offer substantial savings. Right now you could purchase a refurbished iPhone 12 for as low as $200 or a MacBook Air 13.3 for $230. These gadgets are often products returned by customers and have been professionally restored to their original condition. They usually come with a warranty, offering a balance between affordability and reliability.

2. Trade-In Your Old Devices

Leverage the Value of Your Current Gadgets: Many retailers and manufacturers offer trade-in programs where you can get credit or discounts for your old devices. This is an excellent way to reduce the cost of your upgrade. Ensure your old gadget is in good condition to maximize its trade-in value.

3. Wait for Seasonal Sales and Discounts

Timing is Everything: If you are looking for the latest and hottest tech on the market it’s hard to squeeze a good deal. That’s where capitalizing on seasonal sales like Black Friday, Cyber Monday, or back-to-school promotions come in. Retailers often offer significant discounts on electronics during these periods. Signing up for newsletters and alerts from your favorite tech stores can keep you informed about upcoming deals.

4. Opt for Older Models

Last-Gen Can Still Be Gold: When new models are released, older versions often see a price drop. These gadgets can still be excellent choices, offering most of the features of the latest model at a fraction of the price. An older model might just have everything you need.

5. Consider Lesser-Known Brands

Explore Beyond Big Names: Don’t overlook lesser-known brands. Many offer products with specifications similar to the big brands at more affordable prices. Do some research, read reviews, and you might find a gem that meets your needs without the premium cost. Some popular cheaper-side tech options like Samsung, Google, and OnePlus.

Conclusion

Upgrading your gadgets doesn’t have to entail splurging on the latest and most expensive models. By considering refurbished devices, taking advantage of trade-ins, timing your purchases around sales, opting for older models, and exploring different brands, you can stay up-to-date with technology while keeping your finances in check. Remember, the most expensive option isn’t always the best – and with a bit of research and patience, you can find the perfect balance between tech-savvy and budget-friendly.

Editor’s note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates’ editorial team.

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