7 Reasons You Shouldn’t Buy the Newest iPhone
I know this will immediately set some people at odds, but I have never been an iPhone user. However, I don’t buy Apple products for different reasons than you might assume. Before you tell me all about their superior products, consider these 7 financial reasons why you shouldn’t buy the newest iPhone.
7 Reasons You Shouldn’t Buy the Newest iPhone
Every year when Apple announces its release of the latest iPhone, the entire internet is abuzz with the news. And many people are determined to be among the first to have them. But within a few weeks, industry experts and loyal customers alike are already talking about what upgraded features will come with the next model.
So let me ask, is it really worth upgrading every year? Or, could that money be put to better use? Here are 7 financial reasons why you shouldn’t buy the newest iPhone.
1. It’s expensive.
Getting a new phone is exciting, but it comes at a high price. The current base model sells for $799 with a trade-in and a two-year contract. And, you will have to pay even more if you want the upgrade to an iPhone Max or iPhone Max Pro. When you add in accessories, you could end up spending more than $1,000 for a new smartphone. But if you think the latest Samsung Galaxy will save you money, you should think again since they go for around the same price.
Although its top competitor isn’t much cheaper, other Android phones don’t come with such a steep price tag. You can find more budget-friendly options that would allow you to buy a new phone for hundreds of dollars less than the newest iPhone.
2. Their older models still work well.
Apple has been releasing a new iPhone every year with upgraded features and improvements in performance. But, that doesn’t mean that the older models are outdated or worthless. The last few are still used by many customers today.
The iPhone 13 has an excellent camera and battery life while the iPhone 14 has all these plus additional safety features. Going even further back, my husband is using an iPhone 8 that still serves all the purposes he needs. Even, these older models are still high-quality phones that allow you to access your account and Apple services. As long as it isn’t malfunctioning, you really don’t need to spend money on a new one.
3. The older models will also drop in price after a new release.
There is a certain allure in having the latest gadgets and tech as soon as they are released. But if you are working within a budget, it may not be an option.
As mentioned above, the older models are still excellent phones. And when Apple announces a new release date, the older models tend to drop in price. This provides the perfect opportunity to get a great phone at a significant discount. In fact, this may be one of the best reasons you shouldn’t buy the newest iPhone. If you’re willing to wait, you may be able to afford the upgraded version or other accessories to go with it. Waiting a few months could dramatically change the options available within your budget.
4. You can find good prices on refurbished phones.
Even with the price reductions and new releases, iPhones are still expensive. Unfortunately, the previous model may still be out of reach for some people. However, there is another option.
If price is the deciding factor in your choice, consider a refurbished phone. You may not get the latest phone or even be the first owner, but you can still get a high-quality smartphone for only a few hundred dollars. When you buy it from a certified dealer, you can rest assured that they have used genuine Apple replacement parts and did a full inspection to guarantee that it’s functioning as it should. Buying a refurbished phone is a smart way to save money without settling. Just make sure you go through a reputable dealer who will stand behind their work.
5. You have paid off your current phone.
If you buy a new iPhone, it usually includes a two-year installment plan before it’s paid off. Once you pay down this debt, that’s one less bill you have each month. So before you run out to get the newest iPhone, ask yourself if you really want to take on this additional payment again.
It may not be huge monthly savings, but it’s money that can be saved or better spent elsewhere. Looking at it from a practical standpoint, it’s wiser to continue using something you have paid off. In my family, we make sure to get the full value from the things we buy, using them as long as they last. Not only does this prevent you from accruing unnecessary debt, but it also ensures you get the most value for your money.
6. It’s better for the environment.
Looking at it from a global perspective provides more reasons why you shouldn’t buy the newest iPhone. As technology advances, electronic waste is becoming a bigger concern. Every year, humans create more than 50 million metric tons of waste. Sadly, these devices use non-renewable materials that are difficult to recycle. Although we are looking for more efficient methods, we are not there yet.
As consumers, people who have to have a new smartphone or device every year are accelerating the problem. On the other hand, keeping your current phone as long as possible or buying a used one is better for the environment. It won’t stop the problem. But, it’s one small way we can make a difference.
7. There is nothing wrong with your current phone.
Ultimately, getting a new device comes down to one simple question: do you really need it? But even when the answer is no, it can be hard to resist the temptation.
When you are trying to live on a budget or have other financial goals, you have to practice some self-discipline and understand the difference between wants and needs. Start by having an honest conversation with yourself about your financial priorities. If there is nothing wrong with your current phone, think of other ways you could put that money to work for you. Understanding the difference between financial wants and needs will create a healthier relationship with money and help you reach your goals faster.
Read More
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