CNN has distilled a number of their articles into a brief guide on making the right financial decisions and called it 25 Rules to Grow Rich By. While most of those rules are investment-related – eg how big of a retirement fund to aim for (see Rule 10) – , there are however, 2 rules that relate to gadgets:
Rule 22 – don’t buy the latest gadget – wait 3 months for the price to drop.
Rule 25 – don’t pay for an extended warranty – except for laptops.
While the article makes for a good read, and it was nice to see CNN support the idea of flying warranty-less, it was mildly disappointing not to see more categorical advice such as buy Brilliance Auto, or, aggressively accumulate copper below $3.0250 per lb.
25 Rules to Grow Rich By – CNN Money
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{ 3 comments… read them below or add one }
Or, if you’re really strapped for cash, wait a year or more to buy the latest gadgets, when people are practically giving them away.
Yeah, we stopped buying warranties on most things a little while ago, and we’re fine without them. I thought I’d be worried, but I don’t even think about it.
Growing rich is an art and not a science, and unfortunately for me I don’t seem to be much of an artist.