Here Is Why Now Is a Good Time to Use Credit for Tech Purchases

This might well be the advent of an economic recession. While these might seem like the worst of times, this might in fact be the best of times to use credit for tech purchases.

While mask mandates are being relaxed throughout the country and in most of the world, it still feels like COVID is going strong. Even if the end is near, no one wants to be the last casualty of a waning war. People are understandably cautious.

That said, caution has its limits. Big companies invest through a rough patch rather than circle the wagons. This is a pretty good strategy for consumers as well. Even if you don’t have the capital lying about, you can use credit to make the tech purchases that will power your future. This is why now is a good time to do it:

Financing Is Available

There are plenty of loan options that will allow you to finance electronics. Always use caution when taking out a loan. Consider the terms such as payment schedule and interest rate before signing the dotted line. You also have options such as rent or lease to own, installment payments, and a line of credit for new items.

Many people have had to dip into their reserves just to stay afloat. Money is tight and cash flow has slowed to a trickle. There are even fewer rich uncles to help you out of a bind than there were before. Everyone is in the same boat. Very few people get out of this without opening a new line of credit. If you have protected your credit score, you are in a prime position to not only survive but thrive in the present environment.

Tech Is the New Normal

There was a time when the tech was the sole domain of hobbyists, futurists, and people who had the luxury of plowing a lot of money into playing demanding games. Today, it is the basic infrastructure of work. With the US on the brink of recession, more companies are looking for cost-saving measures. Instead of laying off workers, companies are moving to hybrid and remote work strategies.

Those strategies mean that the people with their own technology stack at home are the ones best suited for near-term success. They are the people that can more easily look for, find, and land lucrative work opportunities. Not every company that allows for remote work has the capability to provide the necessary tech for doing that work. You need a basic tech stack more than ever.

The tech you most need is a computer. It doesn’t matter if you go with a desktop or laptop. Just remember that if you opt for a laptop, you will likely spend most of your time working in one place at a desk. That means you will have to also purchase the right peripherals to adapt that laptop for desktop use. If you have no suitable place to set up an office at home, a laptop will allow you to easily work out of a coffee shop. You will also need the best internet connection you can afford and a reliable smartphone with a premium cellular plan.

Tech is Better Than Ever

No piece of technology is ever perfect. But we are living in the golden age of tech. The line is narrowing between consumer and professional technology. High-end components are better and move downmarket faster. A mid-range smartphone is all the vast majority of people will ever need. You can get a good Intel system with everything you need for around $500 – $700. You can pick up the excellent Mac mini for around the same price. Just bring your own keyboard, mouse, and monitor.

If your side-hustle happens to be music or podcast production, you can pick up gear that will make you sound like a pro at budget prices. During times of economic downturn, the creative impulse is enhanced. Makers of content creation gear are doing their best work. This is a golden age for home content creators.

Financing is more available than ever. Tech is in more demand than ever. And the tech you want and need is better than ever. That makes this the best time for financing the bleeding-edge tech that will serve you well into a profitable future.