Technology is a funny thing – on the one hand, it promises so much and is something we cannot live without today; and on the other, it makes you want to tear your hair out in frustration even as you’re staring in awe at the latest model of your favorite gadget that’s just out. Why? Because you just spent a bomb on the earlier model which was then the “latest” and “most happening” gizmo to own and use, and you’re torn between listening to your common sense that tells you your bank account cannot bear the additional burden and your desire that’s screaming and drowning out the common sense and commanding you to buy it. And because I’ve seen my share of tech geeks and aficionados and because I’m sort of one myself, I know that desire mostly wins out in the end.

It’s a hard battle that you have to fight with temptation whenever new gadgets are introduced and new technology is out on the market, but if you set a few ground rules for yourself, you don’t have to break the bank and end up broke in your desire to own the latest gizmos.

• Don’t buy just because it’s new – instead, check out the features of the new device to see if there are any that your old one doesn’t have and if these new features are aspects that you would use on a regular basis. When you buy technology just for the sake of doing so and without taking into consideration its utility value, it’s only going to gather dust in your drawer or closet. So if you respect technology, buy it only if you’re going to use it.

• I’m not going to suggest you buy a phone or a notebook or any other technological gadget only if you really need it; that doesn’t work for people who’re crazy about gadgets. What I would suggest however is that you space out your purchases; so if you’ve just invested in a new smartphone, don’t buy another for at least six months, even if it’s being touted to be the “best in the business”. But you’re free to buy a laptop computer or netbook or any other gadget that’s just out and which features the most innovative technology. This way, you don’t end up craving too much.

• Never borrow to finance your passion – buying up gadgets as soon as they’re out is forgivable; what’s not is when you use borrowed money, like a loan or a credit card to finance the purchase. If you don’t have the required funds in your account to pay off your credit cards in full every month, then you’re not doing yourself any favors. All you’re going to do is end up in a very deep hole of debt. So go ahead, treat yourself to any fancy gadget you like; just ensure that you have the money to pay for it.

Personally speaking, there are some gadgets that I would give my right arm to own, not just for their utility value, but because they’re so sleek and sexy that you just want to possess them. But then, if you give in to every whim and fancy, the gizmos you buy are going to sour in value when your credit card bill comes in. So think your decision through, check your bank balance, and make your choice accordingly.

This guest post is contributed by Anna Miller, who writes on the topic of online degree. She welcomes your comments at anna.miller009@gmail.com