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.
It’s simply imprudent
The primary way you can distinguish between models is through the colors.
Once you upgrade your phone every 3–5 years, this is when you start noticing more significant technological differences that make it worth it.
She Still Has An iPhone 8
I have a friend (who is a millennial) who still owns an iPhone 8, and she’s surviving perfectly.
The phone makes calls and texts and meets her requirements.
Though I make fun of her archaic methods, I appreciate her financial discipline.
She only buys what she needs – nothing more and nothing less.
Furthermore, she challenges the notion that you don’t need to upgrade your phone.
Upgrades Are Usually Inessential
Upgrading your phone yearly wastes resources – unless you have money to blow.
Every upgrade comes with a mandatory installment fee unless you pay for your phone in full or get a deal, usually paired with something you must buy first (e.g., buy one iPhone, get one free).
Installment Fees Are Missed Investment Opps
Raise your hand if you buy your phones outright.
Most people never do this and never will.
Anyone who buys their phones outright is a financial outlier.
Which means people line up every year to get a phone they can’t pay for out of pocket.
People wait in line to go into debt. How absurd.
One Place To Find Your Investment Money
The average installment fee on a phone is anywhere from $20-$60 per month.
People frequently complain they don’t have any money to invest; if they want to find some money, the first place they can look is at their phone bill.
Instead of a new phone, you can take that money and put it to work in an investment account.
No, it’s not a substantial amount, but one thing money will do (no matter how big or small the amount may be, is grow).
The average installment fee takes 12–36 months to pay off the device’s price.
If you’re installment fee is $50/month, that’s a $600–$1800 investment opportunity.
The Little Things Count Big Time
Though you might think upgrading your iPhone yearly is not the solution to your financial problems, it’s part of it.
Every purchase adds up.
Every outlay is money not invested that can create more wealth for your present and future.
73% of purchases are impulse buys, which contributes to why many don’t have any savings or gold in their golden years.
Impulse buys, such as upgrading the iPhone every year, are why people remain in debt all their lives. It’s decisions like these that keep people broke.
Tiny, imprudent decisions add up. Whatever you buy, consider the consequences – is it hurting or helping your ideal financial outcomes?
Do You Like To Pre-Order Stuff? Great. Then, You Can Pre-Order Your Financial Freedom, Too.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.