With approximately 35% of the world’s population having access to the internet it is safe to say that technology is big business. In the last 20 years the demand for new and improved technological gadgets and gizmos has spiralled to whole new levels.
Our televisions have changed from being tiny screens housed in huge wooden or bakelite cases to the impressive 60″ plasma 3D models available today. Mobile phones, once laughed at as portable bricks, have morphed into mini computers. With the advent of the electronic reader books are no longer so popular, and CDs are on their way to becoming extinct. We can join in games with strangers on the other side of the globe, and 3D lenses have changed colour from red and green – to black.
The consumer appetite for technology is fierce, accounting for 22% of consumers’ annual income with providers battling to get the most advanced products on the market first. But all this amazing technology comes at a price, and it isn’t cheap! It is predicted that this year we will each spend an average of £4,197 just to keep up with the latest products. If your love of technology is higher than average, then obviously your spending will be too. So how do our finances cope with this?
In the UK, 23% of all retail purchases are made using a credit card. By choosing carefully from all the financial packages available putting your tech purchases on a credit card could be a great way of earning rewards and cashback. To help you manage your money a little better we have put together an infographic outlining some of the major cards on the market. 65 We have also compiled a handy guide to some of the gadgets that are being released this year together with their anticipated cost.
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