10 ways to waste money on technology

This post comes from Brandon Ballenger at partner site Money Talks News.

When was the last time you bought a roll of film? An encyclopedia? A paper map? When's the last time you saw a pay phone?

My answers: In 2004. Never. Never. Can't remember. I essentially have all these things and more in my pocket -- on a 5-ounce device a third of an inch thick.

Smartphones save us time, gas and money. But technology also makes it easier to waste funds. In the video below, Stacy Johnson takes a look at five dumb ways to waste money on technology. Check it out, then read on for other tech traps.

Computer software can update itself, but computers can't. As they collect tons of files and run newer, bigger and better programs, they get slower. You can't expect a 5-year-old computer to run like new, no matter what you do to it.

But TV commercials and Web ads will tell you otherwise, peddling paid "solutions" that claim to make your computer run better and load things faster. Even when real solutions are offered, this is something you can easily do yourself for free. (See "6 free ways to save your digital life.")

There are lots of subscription services online to track people down, look up their phone numbers and addresses, and otherwise stalk them. But the best, most widely used social networks are free -- like Facebook.

Why would you pay a fee to "see who's searching for you" when everyone you've ever met is already on Facebook?

When you buy software, you sometimes get the option to purchase a physical copy on a CD for $10 or more. Provided you have the right drive, you can easily burn a copy of the download yourself. But since thumb drives are now basically giveaways, I can't remember the last time I had to use a CD.

Adding a year or two of protection to your electronics is rarely worth the cost, especially if it doesn't include tech support or requires you to mail in the device for repair and live without it for weeks. An extended warranty often costs as much as the average repair job -- about $150 -- so you might be better off taking your chances. Plus, your credit card might automatically extend the warranty. For instance, making a purchase with an American Express card will add an extra year of protection at no cost.

How much money do you really want to spend for a few moments of embarrassment when your phone goes off in public? At a buck or two for a 30-second snippet of a song, this just doesn't seem smart. That money could be going toward your texting or data plan.

If you have a smartphone and own the full version of the song, you can make a custom ringtone for free.

Of course, you're also at risk of buying all kids of ridiculous apps you'll get a chuckle out of once -- and never use again. Stick to free apps and the ones you really need, or at least wait for sales.

Sure, you can buy a new laptop for weekly payments of $40. Rent-to-own is the most expensive way to buy something, because you can end up paying the equivalent of 300% interest before it becomes yours.

You'd be better off financing it on your credit card, where even the worst interest rates are much better. But the smart way to buy tech -- or anything else -- is be an adult and wait until you can pay cash.

If you're paying a tech store $30 to $100 to perform simple computer tasks such as installing software or burning a DVD, you're overpaying by 100%. 

Know what I do when I'm stumped by a problem? Go to a search engine and paste the error message in quotes. Or, just ask a question in your own words. Trust me, no matter your problem, it's been solved many times before. 

Living on the cutting edge means paying the most for the least polished version. Early adopters get to look cool, but they're subsidizing improvements, learning about flaws the hard way and paving the road to a larger, cheaper marketplace for everyone else.

Waiting even a few months after a product's release lets you take advantage of user reviews, and if the price hasn't yet gone down, it's not going to go up. Even Apple's super-hyped products see small discounts days after release.

Where I live, the cable company charges $7 a month to rent a modem so that customers can connect to the Internet. Ma Bell used a similar concept, renting phones to unwitting customers for decades when they could have bought their own for $20.

Modems typically cost less than $100 to buy and will therefore quickly pay for themselves. No cash? Call the cable company and ask for a discount. In fact, ask for a discount on your entire bill while you're at it.

Phone companies like Verizon keep shuffling their business models to keep things profitable as heavy data-using devices like smartphones and tablets fill up more of their networks. So if you aren't paying attention to your plan, usage and the latest offerings, you could easily be overpaying.

• Smart Spending on the go: Get our app for Android or iPhone

If you're not grandfathered in on an unlimited data plan -- which you may lose when you upgrade devices -- take a close look at your next billing statement to see if you could safely drop down to a lower pricing tier.

When your device is in range of a Wi-Fi connection, change your settings to use that instead of the 3G/4G network to reduce the data use you're charged for. (Using Wi-Fi for Web browsing will also save battery life, but shut it off when you aren't using it or you may see the opposite effect.)

We're all guilty of some tech mistakes. If you've learned from them, share your insights below.

More from Money Talks News and MSN Money

• Showrooming: Saving money by shopping twice
• Reading free e-books without buying an e-reader
• 6 tips for free computer protection
• Verizon shakes up wireless pricing
• How free Wi-Fi can put you at risk
• Find a better credit card