Going (or gifting) high-tech without breaking the bank

Chris Clackum

NEW YORK (NBC News) - With the newest iPhone costing $1,000 and the newest Xbox $800, it's no wonder consumers are looking for more frugal ways to buy high tech this holiday season.

"Selling your old technology is a great way to get some cash fast for your holiday purchases," recommends Lynnette Khalfani-Cox, a personal finance expert who calls herself "the Money Coach." She says there's good money to be made selling the used before buying the new.

"You can sell, for example, an iPhone 7 or 8 for $350 - $400. They are are also buying the Xbox One and the Play Station 4 for $100 - $150."

The "they" she's talking about are websites like Decluttr.com where used technology is bought, refurbished and then re-sold.

Another idea she has: even when paying full-price for new technology, save by buying accessories elsewhere.

"Certainly 50 percent cheaper or more than you'd pay for, say, Apple-branded accessories."

Also, only buy the memory capacity you think you'll need rather than what the retailer wants you to buy.

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