Apple iPad 2: Worth the Cash?

Apple® announced that iPad 2, the next generation of its “magical” device for browsing the web, reading and sending email, enjoying photos, watching videos, listening to music, playing games, reading ebooks and walking your dog (okay … I added the last one) began selling on March 11^th, 2011. Sales began in over 200 Apple stores throughout America. Customers who bought an iPad 2, at an Apple store, were offered a free Personal Setup service. This helped new buyers customize their iPad 2 by setting up email, loading new apps from the App Store℠ and getting the free dog leash adapter (yep … I added that one too).

Isn’t Apple the greatest! People were up and running with their new iPad 2 before they set foot in the real world. iPad 2 was also made available to the great unwashed masses (the less tech savvy among us) at AT&T, Best Buy, Target, Verizon Wireless, Wal-Mart, and dog parks everywhere (okay … I think you get the idea).

Are you driving an iPad 2?

How much have you collectively spent on iPads, iPhones, iPods, or other electronics? I used to believe cars were the quickest depreciating assets the average person would buy. However, I’m starting to rethink this belief.

Consider the comparison for a moment:

• When you drive a new car off the lot you instantly lose about 1/3 of the value. When you open the box on your electronic device you instantly lose a significant part of the value.
• A new model comes out every year depreciating your car further. A newer version of your electronics continually comes out making your version worth less.
• People doubt the reliability of used vehicles. People think used electronics may be infected or unreliable.

Isn’t it amazing how people get sucked into the frenzy to own the newest, greatest, you can’t live without electronic thingy? Apparently, people need these devices so bad they will stand in line overnight or in freezing weather to make sure they get one of the first highly overpriced gadgets.

The plans of the diligent lead to profit as surely as haste leads to poverty. - Proverbs 21:5 (NIV)

Do I think all electronics are bad? No. However, I don’t think going crazy over one is advisable either. In less of course you’re the one selling them. So how do we begin to spend our money wisely on these items?

Find a better ride!

Despite what Apple, Microsoft, or Intel may tell you – You can survive the next few electronic upgrades without the best 5G with 3-D, ultra-thin, ultra-light, 100 gig, dog-walking electronic device. You just have to know the right questions to ask yourself, not the salesperson.

1. What do you need your electronic device to do?
   • Make phone calls – That old fashioned thing of listening to voices.
   • Text Messaging – Hmmmm … or can you call?
   • Picture Taking – Combination devices may actually save you money. Example: Camera/Phone
2. What don’t you need you electronic device to do?
   • Run an “app” on how to find the best dog groomer – Really?
   • Internet connectivity – Do you really NEED this?
   • Worldwide use – Even though you leave the US once every 5 years… Really?
3. What’s your budget?! Don’t consider the salesperson’s desire to be employee of the month!
   • Do you have cash on hand?
   • Can you buy a used device which is just as good? TV’s are great examples of this.
4. Wait, wait, wait!
   • Big purchases can wait one day.
   • If married, ask your spouse for a second opinion.
   • Married or not, ask a trusted advisor for advice.
   • Look for better prices - many companies will match competitor pricing.

What kind of electronic purchase do you wish you could take back? Have you ever felt buyer’s remorse over an overpriced phone? Do you have a desk drawer full of gadgets which work great, but are exactly two nano-seconds slower?

Maybe, you’re a person on the other end of the buying spectrum. Did you start the download of this article last night? Do you still have a rotary phone on the kitchen wall?

Whatever your current spending habits may be at this time . . . Don’t let your next electronic purchase turn into a clunker of a decision!

Did you buy an iPad 2? What was your justification? And, was it worth it? Meet us in the comments!

Photo by Pedro Eugenio Antunes