Smartphones have become an integral part of our lives so much so that it’s difficult to imagine a life without them. Several manufacturers have understood the need for smartphones in our lives and have been launching feature-rich phones now and then, loaded with the latest technology. But owning a smartphone can be costly. Not everybody can afford it nor has a budget for it. Here are 5 ways you can save money when buying a smartphone:

  1. Shop Online

Online retailers offer smartphones at prices lower than brick-and-mortar stores. They also offer promo codes, which you can use to get discounts on your purchase. Some of the popular online retailers are Amazon, eBay, etc. These websites offer a vast option of smartphones for every budget. However, remember to check the website’s return policy before making the purchase online.

  1. Pay for Your Phone in Monthly Installments

Whether you buy your smartphone online or in person, it is better to pay the cost of the mobile phone in monthly instalments, rather than putting up the money upfront. Various online and in-person retailers allow you to buy a phone on monthly instalments. You can also consider getting a personal loan online through personal loan apps in Vietnam like MoneyTap.

  1. Sell or Exchange Your Old Phone

When you buy a new model, your old mobile phone will gather dust in your home. Your old smartphone might still have value, especially if you have taken good care of it. You can consider either selling or trading in your device.Selling or exchanging your smartphone might help offset the cost when you’re buying a new mobile phone.

  1. Avoid Buying the Latest Smartphone

This is the easiest way to save a huge amount of money when buying a phone. Whenever a new model of smartphone is released, the previous models are available at much lower prices. While the previous generation of phones may not have the latest technology, but they are still capable of getting the job done.

If you want your smartphone to be always cutting-edge, you’ll have to upgrade whenever a new model is released. Getting access to the latest technology comes at a premium cost, which is not advisable as the technology changes so quickly that your brand new smartphone won’t remain cutting edge for long.

  1. Buy a Second-Hand Phone

Many people are apprehensive about buying a pre-owned smartphone. But it might not be a bad idea. A well-cared-for smartphone may sell at a lower price, but it may have a lot of life left in it. Look for various options in the used smartphone category. You might end up finding agood mobile phone at a bargain just because it’s pre-owned.

  1. Buy a Refurbished Phone

You may not be able to distinguish a refurbished smartphone from a new one. And it costs a few thousands less. You can get a refurbished smartphone from retailers, online as well as offline. These phones are often labelled as “certified like new”or “refurbished.”

Author Bio

Lily Tran is a content writer, working for MoneyTap, who writes about all things Finance. Her passion for credit, debt, loan & investment drives her to help readers get an insight about everyday finance.