Is Your Gadget An Asset?

Christmas is coming near again and the ever so popular "Christmas Bonus" is coming to town! For some people this means more purchasing power and the opportunity to buy things that they want for their love ones and for themselves. Malls and bazaars put their items on sale, we can see items discounted from five to as much as fifty percent. From books, to clothes, accessories, jeans, toys, and - GADGETS. Do you own a gadget? Well, almost everyone carry his/her own gadget nowadays. May it be your cellphone/smartphone, iPhone, iPod, tablet PC, net book, laptop, mp3/4 players, or even your desktop - it's a gadget. If you're reading this blog post right now, the probability is that you own one. But Is Your Gadget An Asset? According to Robert Kiyosaki, an asset is something that puts money to your pocket. An asset is something you own either physically or in papers that creates more wealth for you. Do you consider your gadget as an asset? If you use it so that you'll earn some amount of cash, then you can consider it an ASSET. It can be your cellphone that you use to transact business or your netbook or tablet that you use to update your online store or create a new blog post where you earn by posting some ads as long as it is something you use that creates money for you. The Rule To Wealth It's quite common to see working people having the newest gadgets with them. iPhone, iPad, iPod, BlackBerry, Android Phones, MacBook, the newest netbooks and tablets - you name it! It's because they can afford them either thru short-term saving or thru debt. Nothings wrong with having these kind of gadgets because they are created to make life easier. They became wrong when it became a LIABILITY rather than an asset - when it takes money out of your pocket. Let's take buying yourself a BlackBerry for an example. To fully utilize this kind of phone, you have to subscribe to what they call BIS (BlackBerry Internet Service) so you can browse the internet, update your social networks and chat thru BBM (BlackBerry Messenger). What you were not able to see is that you have added expense to what is usually consumed when using an ordinary phone. Most of the time it is doubled since wireless internet connectivity is quite expensive. An added cost is when you buy the gadget on the first few weeks of its release - you might want to consider buying after 6 to 12 months when the price is almost 50% of its introductory price. Check the price of your phone from last year and compare it with the price today, see the difference?" When you want to be financially free, be careful on buying your gadgets. Let your gadget be an asset!

Mark Hugh Neri

Looking for financial planning workshop or for life and/or health insurance with investment options? Got questions related to personal finance? Feel free to message me at Money Gizmo (see link below)

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