Early adopters take substantial risks when they purchase the hottest new technology toys. As demonstrated by the eventual failure of the HD-DVD format, purchasing a first generation product can result in the item becoming an expensive paper weight. As technology goes through iterations and vendors rush to clear out old inventory, the prices can go dramatically down. HDTVs that would have sold for over $10,000 at the turn of the century often sell for less than 1/10th of that price today without adjusting for inflation. The best way to save money on technology is to be content with purchasing a few years behind the curve.

When you start to read about a hot new technology, think of it as a preview for what you're going to buy in a few years time. Ask yourself what improvements that technology will give you over your current equipment. Think about how much time that you would need to spend working in order to afford the item. Often, you can get substantially functional equipment for far lower prices if you're willing to purchase things that have been on the market for a few years.

Tested technology is more reliable. The multiple iterations that companies work over their products help to ensure that the items are more durable and effective. Older products have more customer reviews associated with them, and there will be more information available about how those items perform over the long term. Buying old items can result in huge savings. Learn to love buying things a few years behind the bleeding edge, and you'll find yourself with a fatter bank account and more cool toys.