Why I Won’t Dip Into My Savings for an iPhone 17

The iPhone models are out and they look slick I m not going to lie I want an iPhone Pro Max and I want it now I m kind of feeling the iPhone Air too but wonder if I d break it The matter is I really don t have room in my budget for a new tech toy at this juncture Maybe you can relate The everyday stuff like electricity groceries gas and water is stretching my family to the literal brink My season of life includes three small kids a leaky toilet and so a great number of loads of laundry that our latest quarterly water bill was closer to four figures than I ever thought viable Plus my iPhone Pro Max which I bought new in is still as snappy as it was the day I peeled off the plastic film So how can I justify the cost of a new one Well I personally can t right now but things might be different for you Looking at what s new and where you are with your current phone will help you decide What s new with the iPhone lineup Apple stated four new models at its annual iPhone event Sept The iPhone Air looks impossibly thin and the Pro models certainly have a fresh new look Here s the new lineup in a nutshell iPhone looks familiar but has upgraded hardware that includes a more durable display with a Hz refresh rate iPhone Air is an all-new super duper slim model that promises pro-level performance and durability that would seem to defy its light and airy look iPhone Pro and iPhone Pro Max introduce a new unibody design with a forged metal bump-out that includes three MP cameras Cosmic Orange a new color offering looks stunning All models get an upgraded front camera that lets you fit more into the frame I m interested to try that out myself says Courtney Lindwall home and tech reporter at Consumer Reports It seems like it will be a bit easier to take selfies with other folks a feature people use every day Pricing iPhone starts at iPhone Air starts at and iPhone Pro and Pro Max start at and respectively Pre-ordering opens Sept How often people upgrade in Apple puts out new iPhones every year but people don t upgrade that often In fact the majority of latest details collected in December from Consumer Intelligence Research Partners shows nearly half of iPhone buyers kept their phone for three years or more Like I mentioned I ve had mine for three years and counting My wife has had her iPhone for two and my mom is still rocking an iPhone XR that came out in Our scan of Reddit yes we used AI confirms the tendency to keep a phone longer Various users say they upgrade every four to five years as phones now are built to last that long Several commenters noted that year-to-year improvements are now so incremental that changes are only noticeable from models that are three to four years old There are still power users who upgrade every year because they need the new features for work or other specific uses Is now the right time for a new iPhone Beautiful designs make the new models stand out but your current iPhone presumably is more than adequate In general the hardware upgrades this year seem pretty iterative says Lindwall The average person apparently won t notice a huge difference between the iPhones of two years ago and these newest models Here s what to ask yourself before you decide to upgrade Do you need it Getting a new color perhaps isn t a good enough reason to upgrade Consider how your current cell phone is holding up Pay attention to the speed and battery life An older phone may have a tough time keeping up with system updates Consumer Reports members overview battery life degradation as one of the top reasons for replacing their phones Lindwall says But there are places that will replace your phone s battery relatively cheaply We generally encourage folks to get as much life out of their investments tech or otherwise as manageable Lindwall says Can you afford it The right choice depends on the individual Robert Finley a certified financial planner in Chicago disclosed in an email interview As a rule he wouldn t recommend buying a luxury item like the latest iPhone if it requires you to take on any debt But if you have the cash available it comes down to priorities he mentioned Would you rather spend the money on a shiny new tech toy or a longer-term savings goal Will it make you happy Still elation is essential and a new phone can be just the ticket for a time Ask yourself which option will bring the majority satisfaction not just in the moment but also when you look back five years from now Finley declared He in recent weeks upgraded his older phone to a newer iPhone and kind of regrets it The new phone has connection issues and the AI features are more hassle than help he explained Honestly I d go back to my if I could Make your iPhone purchase more cost-effective iPhones are like Toyotas If you take care of yours you should have plenty of resell and trade-in options after a couple years of use The money you get can go toward a new model My iPhone Pro Max has a current trade-in value of at Apple for example But it would still cost for the orange iPhone Pro Max I want and that s before taxes Lindwall recommends certified refurbished models given how high-quality and durable phones have become Apple has its own refurbished undertaking for example and there are reputable third-party resellers as well Just make sure there s a return approach If you don t care about having every new feature it can be a good way to save or off the cost of something new she says As for me I think a brand new iPhone would bring me contentment but I can t afford it I wouldn t have to take on debt but I would have to take from my savings I also don t need it If I wait until next June I ll hit four years with my current model which still runs like a top Reddit is an online forum where users share their thoughts in threads on various topics The popular site includes plenty of discussion on financial subjects so we sifted through Reddit forums to get a pulse check on how long users keep their iPhones People post anonymously so we cannot confirm their individual experiences or circumstances Tommy Tindall writes for NerdWallet Email ttindall nerdwallet com The article Why I Won t Dip Into My Savings for an iPhone originally appeared on NerdWallet