How to save for child’s gadgets? All you need to know
I am a father and I want to save for my child’s gadgets. How do I start? We have an easy solution for it!
Electronics have evolved into a vital component of our day-to-day lives. It’s crucial to teach your kids how to use technology responsibly in today’s digitally driven world and to develop the knowledge and behaviors that will help them succeed as digital citizens.
The latest gadgets for youngsters are rarely inexpensive and often appear out of reach. Are you looking for methods to save money on your child’s gadgets?
This article will assist you in planning your desired gadget without trying to empty your bank account. Follow these simple recommendations to keep your child’s new tech costs low.
Ways to save for child’s gadgets
1. Start a SIP
Start a SIP plan to meet your short-term and medium-term goals. SIP allows an investor to invest a certain amount of money in a mutual fund scheme at predetermined intervals.
SIP allows you to acquire units on a set date each month in order to create a savings strategy for yourself.
EduFund assists parents in budgeting for electronic gadget purchases. It has a separate section dedicated to saving children’s electronic gadgets.
The app also shows you different gadget options and provides you with savings plans to start saving for the gadgets on the app.
Electronic device prices have been skyrocketing, and with the Covid-19 outbreak, electronic prices are rising even further. EduFund addresses the financial needs of parents since electronic gadgets have become essential for children’s education in today’s society.
2. Do your research
Before actually buying electronic gadgets, it is essential to research. It is a good practice to look around at wide varieties and brands. Examine both offline and online retailers to gain a comprehensive analysis.
If you wait until your old equipment cracks, you’ll feel compelled to purchase a brand-new one without looking around or looking for a good deal.
When you browse online, you can instantly comprehend the pricing and position yourself for a good deal when it arises. Track the progress of the valuations of the gadgets you want to buy to save money on electronics.
3. Return old gadgets
The need for reconditioned technology has increased exponentially in recent years. In addition to global supply chain disruptions, customers have been convinced to buy used technology owing to price considerations, environmental considerations, and the accessibility of lifetime management solutions.
While purchasing new gadgets, parents should look to return their old gadgets and concentrate on a buyback offer. They can exchange old products with the purchase of new products.
Useful Gadgets for Students
4. Request a price match or a discount
Many retailers meet their competitors’ electronics market prices on the same product. If you’re loyal to a favorite retailer, find out if they can fit the competition’s offer.
You can also participate in a membership program that will earn you points or discounted rates once you connect.
If the seller fits a competitor’s offer, you could use that membership program to get electronics at a cheaper rate. If you can’t obtain a comparable object for a reduced price, it Is better to negotiate.
Most traditional retailers might not provide the same benefit; however, they might be more willing to cooperate with you to make a deal and discuss electronic purchases.
5. Warranties aren’t worth it
Numerous parents fear their child’s new phone will end up in a pool of water or, even worse. Purchase extended warranties for their electronic gadgets.
Read the fine print to avoid paying extra for something you don’t need – or paying large amounts for a product that doesn’t even protect against water damage.
A void warranty is a waste of money and certainly cause for concern. Choose a standard complimentary warranty over an extended warranty.
The advantages of gadget use
Children of all ages can benefit from technology, which offers tools that encourage learning via play, let them express their creativity, and keep them socially linked.
For kids under the age of five, it serves as stimulation. It can be applied to speech as well as to encourage learning. The young ones’ visual representation may help them develop their senses.
The use of technology to play games fosters cognitive development and analytical abilities.
This encourages the child to think more creatively, strategically, and generally to be more productive. Tech-savvy children will also be more equipped for a workforce that will be largely digital.
A few fundamental parenting principles will assist you in establishing ground rules and preserving technological harmony at home.
Students nowadays rely heavily on technology. These devices are critical for children as they are required to boost their learning abilities and knowledge.
Nowadays, independent learning is supported since children can study without the aid of teachers. Students use the internet for research and online libraries to complete their homework.
As a result, technological devices have become unavoidable in the current world.
Is it good to give gadgets to children?
Yes, some gadgets are good for your children. However, you should have a time limit on how long they can use the gadgets in a day. Too much usage can affect your kid’s attention span and even strain their eyes.
How to save for your kid’s gadgets?
The best way to save for your child’s gadgets is to start a goal and a SIP for it. Rather than buying or taking an EMI, you can start a SIP and save for the amount. You can do all this on the EduFund App. It helps you save for your kid’s education expenses like buying a phone or a laptop.
How can gadgets help children?
Some gadgets are known for helping kids with motor skills, learning languages, and even sharpening their spatial knowledge.