Sharing Daily Discoveries About Personal Finance And Business Topics

Investing In a New Item Instead of Fixing It

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Recently my uncle contacted me as his computer appeared to have gone haywire. After looking at the computer, it seems like the memory or motherboard is pretty much toast which means it requires a replacement. From what I gather, it would cost about $50+ to get the parts and labor to fix the problem and I was asked what I would do.

Since his computer is relatively old and how you can pretty much buy a new computer for about $350 that would be light years better than what he was using I suggested that it would probably be better to invest that money into buying a new computer. If anything, it would be like you put that $50 towards the $350 machine as if you are getting an even further discount.

Sometimes I think it just makes more sense financially to invest your money in buying a brand new item. The only times I would be extremely iffy about it is if you were thinking of upgrading for the sake of making something better. That feels like a potential waste of money as many times you are doing it just to show others that you have something bigger and better. But for a case like this where the cost of repair is significant it just makes sense to get a new item.

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