This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Get out of that line if your money ain’t looking right
But here’s the thing: Most people have to finance their phones with installments because they can’t afford to buy them outright.
So this question comes into play: if you can’t afford to buy your phone outright because you don’t have $1,000 in your bank account, why would you acquire a new phone in the first place?
This is a clear example of a lack of proper financial priorities, which is the case for many people. Many people in those long Apple lines can afford to buy the new iPhone outright, but many others have no business being in that line based on their financial status.
The iPhone is just a symbol.
Many people finance purchases to attain new tech gadgets, clothes, shoes, cars, housing arrangements, etc., instead of asking themselves: Can I actually afford this? If I had to pay the bill in full, could I (without using my savings and investments), and if I did, would I have any money left over?
Being able to afford installments or financing (anything) means you cannot afford that item.
Quite the opposite. If you need financing, you can’t afford it. Similar to how most people can’t buy a car in cash because they don’t have that type of money sitting around. Yet, they still buy cars they can’t afford that are well over budget.
If you can only afford your new iPhone with installments, why are you in that long-ass Apple line?
If you can only afford to go to a particular school with financing, is it worth it? It depends on how well you choose to do financially after graduation.
If you can only afford a new or used car with monthly payments, is it worth buying? Is there a less costly option you could consider?
I want you to consider all the upgrades and things you have bought and are planning to buy. Ask yourself, has it, and is it worth it? Are you dependent on financing to attain the items? How are your finances looking – are you on or off track? How will your finances look after making the purchase? Should the purchase be prioritized or delayed? Can you opt for a lower purchase that fulfills your needs?
The upgrade lifestyle is a trap that diverts money from investing (assets) into materialistic items (liabilities) that frequently add little value.
Choose wisely.
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This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.