Is Technology Responsible for Awakening the Spendthrifts in Us?

The marvels of the contemporary era can be summed up in just one word. Can you guess what that could be?

I’ll willingly give you a few cues;

  • It is something that makes cooking easy for even someone who hasn’t cooked a day in his life.
  • It is something that makes boredom non-existent, even when you are all alone.
  • It is something that keeps us cosy in winters and does not let us overheat in the summers.

You must have guessed the answer by now.

Yes, the word, the concept, and the driving of modern times are technology. Imagining a world without it is impossible, and it is daunting.

Going back to the pre-technological era and surviving is not something the present generation can accomplish.

The comforts, the convenience and the pleasure of technology have integrated themselves in our lives to the point that we cannot ever escape them willingly.

I mean who would want to give up their massaging lounge chair that can even play relaxing music for the traditional sofa.

I certainly wouldn’t. My father procured doorstep loans in Glasgow to get his hands on one.

And coming to the point of this blog,

Do you ever feel that you are spending more because of technology?

I personally feel that we do, and it somehow disrupts our budget, and our income gets affected as a result.

Let us know how.

Technology and Status

Many of us feel that our place in society is only decided by the number of technological gadgets in our home. The more the gadgets, the higher your status level and the more people will look up to you.

People in modern times are hungry for appreciation and go to any lengths to make that happen.

These lengths include getting 100% guaranteed loans and buying the biggest flat-screen TV than anyone you know.

I am, by no means, saying that taking a loan is wrong; in the times we live, it is essential. And I am also not saying that buying a TV is unacceptable. It certainly isn’t.

However, doing it so that people consider you to be better than them is not ideal. Or buying something just because everybody around you has it is not a valid enough reason.

Technological Innovations Compel You

Society and our place in it was the most crucial reason behind the pressure to buy more technologies than were necessary.

Another reason is the fact that technology keeps on upgrading itself constantly. With every upgrade, an innovation is launched, making you own the one you own as good as old-fashioned.

The most prominent example of this can be found in the Smartphone.

I own the Samsung Note 8; I bought it about 2 years ago for a whopping thousand grand. Now it is nothing but the ancestor of the Note 9, which seems like the grandparent of the latest Note 10 Plus.

I do feel that my phone needs to be updated, even though it works fine, and there is not a scratch on its pristine body.

The same is true for laptops, televisions, and even refrigerators, and with the innovations, technology compels us to buy more than we want to and more than we should.

Technology and Its Consequence

Buying new gadgets and gizmos is not something that can be considered wrong. However, when people do it without having the means for it or by acquiring loans on top of loans to make the purchase possible, the problem arises.

You must know that the present times are too expensive, and affording just the necessities takes a toll on your budget.

Now when you would add the burden of unnecessary technical purchases, imagine what will happen to your bank balance.

That is the consequence of technology; it can affect your bank balance in a way that it might not ever recover.

There are so many examples of people who have willingly put themselves into a debt trap because of their need for an elevated status in society and because they got hypnotised by the latest technological launches and had to buy them.

You tell me, is it worth it?

Is it worth buying a £50,000 car, when you only travel in the tube to avoid the London traffic?

The Bottom Line

In the end, all I want to say is that I do not indulge in unnecessary purchases of technological gadgets.

Identifying what is necessary and what is not is the key to getting the best use of technology.

I have severe allergies and the slightest of dust in the air makes me sneeze a thousand times. To prevent that, I bought an Air Purifier, it was expensive, and I had to max out my credit card, but my life became so much more comfortable after that.

When you invest you money in technology that absolutely need, you will never regret it and neither will you ever find yourself in a debt trap.

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