Replace or Not? Considering How Much I Need Something.

Posted by Lynnae on August 28, 2008

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The following is a guest post by Ryan Suenaga of Uncommon Cents. If you like this post, consider subscribing to his RSS feed!

My camcorder died. I use it pretty rarely, but it’s not like I can easily substitute another item for it, although my digital camera works decently in some situations doing just that. It’s long out of warranty and it would probably be more cost effective to replace it than to have it repaired.

The question: do I replace it?

While I’m a Geek (and Geeks are almost always gadget hounds, including me), I also consider what’s economically sensible for my situation. I may use my camcorder three times a year, mostly at KansasFest, which I’ve already attended this year.

How urgent is it for me to replace this camcorder? It’s really not all that urgent, although it’s nice to have around. Compared to some of my other expenses (like the professional insurance I have due in November, spending around the holidays, and building up my Roth IRA), the camcorder isn’t all that important, and it’s certainly not something I use daily or anywhere close to that.

If my car or bicycle needed to be replaced, you’d bet that I’d not even consider if I needed to actually buy something, just what to buy and how much to spend. While not in the same economic class, I’d not think twice about getting a new pair of running shoes or work shoes. These are things I use daily or darned close to it and are essential to my way of life.

Compared to my other electronics, it’s also far down the list. I use my iPod touch daily, particularly its calendar and Internet functions (and for music, audiobooks, and podcasts too!); if something happened to it, it’d require immediate replacement or a dramatic change in my lifestyle. Same for my MacBook (which replaced my iBook when it failed). My desktop computer could wait, but would certainly need replacing before my camcorder; my cellular phone or digital camera would also warrant quicker replacement based on how much I use them.

So, what’s the answer?

The answer is, "I’m not sure yet." I do think I will eventually replace the camcorder; the question is just when and under what circumstances. Similar camcorders can be had for well under $200 on the refurbished market (this one was itself refurbished), so it won’t be a huge dent in my wallet. But as long as I have more important priorities, the camcorder falls into the category of being replaced at my leisure rather than being replaced immediately. I think I’ll get
one, but I’m also sure it’s not this week, next week, next month—and maybe not even next year.

If you were Ryan, what would you do?

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Comments

7 Responses to “Replace or Not? Considering How Much I Need Something.”

Julie on August 28th, 2008 4:38 am

I would search Craigslist and see if anyone is selling a used one for cheap.
Colin on August 28th, 2008 6:14 am

Just my 2 cents, but I had my video camera stolen while I was traveling in Europe. That was nearly 3 years ago and I haven’t missed having a video camera. How often did you actually go back and watch the video that you had recorded? The answer for me was: not nearly as often as I went back and looked at still pictures. I replaced it with a nice point-and-shoot and have been very happy with that.
Kyle @ Rather-Be-Shopping on August 28th, 2008 8:07 am

Hey Ryan! You only use it 3 times a year, forget about it. You don’t need it. When you have kids then it will be worth the investment. For now, just stick to the video cam feature on your digital. My 2 cents.
Colin on August 28th, 2008 8:25 am

Ryan - You’re up to 4 cents already; that is pretty good advice if you ask me.
Marci on August 28th, 2008 9:34 am

I’d put it on my ‘maybe want it’ list tacked inside my kitchen cabinet door - with today’s date. If I still wanted it in 6 -12 months, then I’d think about buying it.

A lot of times the ‘want’ will disappear, or I will find one at a garage sale or pawnshop or 2nd hand store.

Putting it on the ‘want’ list makes me take the time to really rethink the matter later on when I am not so attached to the emotions of having just lost one.
Big Winner on August 30th, 2008 7:45 am

Luckily, purchasing decisions are one of the best areas where procrastination can actually pay off!