New computers today run the gamut from $300 to $5,000. It really depends on what you use the computer for.

But, with a modest budget of around $30-250, you can get the most common computer upgrades, memory, video cards, monitors, or processors.

What you should keep in mind, is that it's almost always better to try to stick a tad behind the best equipment you can buy. If you're looking for a new graphics card, the top of the line models usually cost around $500-800, while ones that are just a few months older can be had for $200 or less. You'll get almost as much power and save a lot by doing your research.

A CPU, or computer processor is another hardware upgrade that can be very expensive when first released, and then drop to a third of the price in less than a year. They can go from $1,000 to under $200 in that time span. Yet, you can still get about 80% of the computing power for 1/3 of the price of the top of the line models.

One smart choice is a cost effective memory upgrade. It usually costs around $100-200 and can make a huge difference in your computing experience. Its usually the best upgrade dollar for dollar that you can do.

You can usually upgrade most computers at least once cost effectively. By adding just a little better hardware, you can extend the life of your computer a few years and improve your computer experience. Moving to a brand new computer can be quite a large change, with whole new sets of software to get used to which is why most people resist moving to a new computer.

In most cases however, even one good upgrade can keep a computer useful for 2-3 more years, even if you cant upgrade again. And that means the computer you buy today could last you a good 5-10 years with good upgrade choices.

Computer Users that need more power, to play games or create videos will probably be better off getting a new system about every three years. That seems to be about the time frame that computing power doubles and prices fall in line.

If you decide to move towards a new computer, it's become much easier with USB drives that can make easy backups of your important files. You can buy a 100GB USB drive for around $100, which is very handy to keep all of your important data.

I recommend going to www.pricewatch.com. You can get a feel for what type of upgrades you can afford, and then compare it to the costs of a brand new computer. Almost every computer upgrade you can imagine can be found there at a reasonable price.

Once you have a feel for how much it would cost to upgrade versus the costs of a brand new computer, that should give you an a good idea of whether to upgrade or replace. If you can put in a $100-300 and use the computer for a few more years then it might be worth it to upgrade. However if the new hardware appeals to you, and its cost effective, replacing your current computer might make sense. Tough decision, but one that can pay off big dividends.