Tag Archives: economy

Buying vs. Leasing Technology Hardware

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Courtesy Dream Designs

Lease or buy technology hardware?  Black consumers need to ask themselves this question because, as I have said before, Black people don’t play when it comes to money. 

Consider your cellphone; cell phone carriers have long practiced the art of selling you a cellphone with their service without actually selling you a cell phone. You know the deal, sign a two year contract and get the cellphone for free or at a discount. Cellphones have never been cheap and the true price of the phones are buried in your wireless bill. Now cell carriers are dropping those two year contracts, slashing monthly fees and creating new programs for the actual cost of the phone.  The option of buying or leasing a phone has become serious money choice.

Consider this, cheaper phones means a cheaper bill every month. If you are sensitive to the steep price of some of the more advanced phones you can drop your monthly bill by selecting a cheaper phone. 

But lets face it; the best way to save big money is to keep your old phone. Think about it, do your really need the latest smartphone just because it’s the newest thing on the market? That is what the cellphone makers want you to think!

Once your current phone is paid for that cost comes off your bill putting $20-30 a month back in your pocket.  Before the death of two year contracts service providers didn’t lower your bill even if you didn’t upgrade to a newer device.

If you must have a new phone for whatever reason you can always buy a nice refurbished smartphone. They are often just a year or two old and much cheaper than brand new phones. Many of these phones are refurbished by the manufacturer and are hard to tell from new. Finding these phones is simple just search online.

You have to do the math and see where your best deal is. Sprint and other carriers are offering some interesting deals where you get to upgrade the phone every two years without actually buying it. Sprint comes right out and says you are leasing it.

At the end of the lease you have the option of turning in the old phone (just two years) and getting an upgrade and keep paying. Or you can pay off the balance on the phone and just pay for the monthly service. 

AT&T recently has changed its phone plans making it tough to own a phone. Where it once offered three plans AT&T now offers only two. The new plan, titled AT&T Next Every Year, offers an annual upgrade and lets you trade-in your current phone as long as you’ve paid 50 percent of its retail value. The other option, AT&T’s Next plan, offers a 30-month financing plan. With AT&T Next you trade-in your phone after two years as long as you’ve paid 80 percent of its value. You also have the option of 24, 18 or 12 month lease plans. But you need to check the fine print on these plans. Both plans require you to trade-in the financed device meaning there’s no option to simply pay one off and start fresh with a new device or just buying a service plan. You just keep paying. The cellphone industry is getting tricky so you need to seriously consider buying versus leasing your next phone.

Another area to consider lease versus buy is your home Internet connectivity. Ask yourself this question; how long have you been leasing you Internet router and cable modem? Probably years. Now do the math. How much would a new router and modem cost you that you own free and clear? As little as $99 each. The average person can save as much as $250 dollars a year depending on the combination of router and service you currently pay for.  Starting to get the picture?

Here are a few things to think about when considering leasing versus buying a router and modem. To start make sure the equipment you buy is compatible with your Internet providers networks. You can usually find that information on their website or give them a call. Also consider technical things like learning how to configure it for maximum performance and security. If you have multiple wireless devices in your home you must consider how your router will perform and that includes television and telephone service. Some routers have a limited number of devices it can service effectively. Finally, if you have trouble or a breakdown of equipment you are responsible for repair or replacement of the equipment. 

With a lease you won’t have these worries. You just call your provider and problem solved.

Now you know.

 

 

Support Black Businesses at WeBuyBlack.com

By Bria Richardson, AACR Intern

webuyblackHow often do you support black businesses? Black people often choose convenience over seeking out African-American businesses. That isn’t really a bad thing but for black people sometimes the most convenient thing isn’t the best thing for our hair, skin or even our personal style.

As a person of color we have to sometimes shop differently. And who knows better about the things a person of color needs than a person of color? In order to start making effective changes within the African-American economy we have to start by supporting black businesses.

Webuyblack.com has over 1500 products to choose from including, clothing, shoes, accessories, natural hair products, natural hygiene products, books, restaurants and much, much more.

This site has everything a man or women of color could possibly need. A percentage of every dollar spent on the site will go to a black nonprofit. Support a business that is supporting you and everyone wins in the end.

As black people if we want to see a change we have to start doing things on our own. I’m not saying you have to stop eating at your favorite restaurant or stop shopping at your favorite store because it isn’t black owned. But you can support black owned businesses a little more each day and webuyblack.com is your guide and source for black owned businesses and products. Besides who wouldn’t want to shop at a place that has the exact kind of shampoo you need for your natural hair? Or a place that knows exactly what kind of soap will bring out the radiance of your brown skin?

Try out “We Buy Black” at https://webuyblack.com/

Or visit their IG at: @webuyblack