iPhone X vs Your Future Self

iPhone X vs Your Future Self

Apple just held their release event for the new iPhone/Watch/etc.  One of the hot topics was the release of the new iPhone X.  It’s a pretty impressive device overall but comes with a pretty impressive price tag as well.

The new phone will cost a minimum price of $999.  A jaw dropping number in my opinion especially from someone using the iPhone SE.

(Yes, the SE is the new/old iPhone 5S for those that have never heard of it. And I love this phone for those that are interested.  As much as anything because of its size and the fact that it was free.  They sell this phone over by the original “dumb” flip phones.  I’m going to hang on to it for as long as possible too.)

This is the SE. It’s awesome, I know!

Sorry for the sidebar.  I’m just having trouble getting past the price tag of the new Apple phones, and Apple products in general.  I love Apple products as much as the next person, but at the end of the day, what is that phone going to do for you that your current phone can’t do?

Take a slightly better picture?  Unlock via face recognition? I just can’t get there.

I obviously won’t be buying one.

Why might you ask?  I just don’t need it.  Once it becomes what the iPhone SE is equivalent to now, I probably will, but that’s many years from now.

Where I really lose sight of this epidemic is the fact that I know I won’t be one of the tens or hundreds of thousands of people that will own them before we hit the year anniversary of its release.  It’s not that I can’t afford it, I certainly can.

So, what’s my beef with the fact that I’ll be in the minority of people that don’t choose to buy it?

It’s that there is data out there showing that the 57% of American families do not have enough cash on hand to handle a $500 emergency expense.

I’m willing to bet that a significant portion of that 57% will end up finding the dollars to buy the new iPhone at the detriment of their future self.  By purchasing the new iPhone, they’re further reducing the ability to handle that $500 emergency expense that we KNOW will eventually happen.

Making poor financial choices is how many of these individuals have gotten in this position to begin with.  I’m not denigrating poor people or low-income people.  I’ve been there.  I grew up in the welfare system, but not due to my parents’ poor financial choices as a whole.

My parents worked multiple jobs to make ends meet, but they weren’t buying ancillary random expensive stuff.  They were paying rent and putting food on the table through hard work.

We weren’t poor because we were buying cool stuff, that’s for sure.  We were the last kids to get high-top pumps for those that remember those.  Just as they were going out of style, too.  It’s pretty much the equivalent for the iPhone SE I have now.  I guess you could say my parents really rubbed off on me.

People in this day and age say, “But I need a new phone.”  Do you really?  I’ll bet not.  Just because your two-year contract is up ≠ I need a new phone.

Wants and needs are more often than not misused.  People need food.  People need shelter.  People need a safe environment.  People need education.  But people do NOT need the newest, greatest cell phone.

Even if you can afford it, that doesn’t make it a wise purchase.  Just sayin’.

Making one better decision at a time is a strategy that has serious compounding growth potential.  I’m not saying you should invest the $5 per day you might spend on lattes, I actually hate those kinds of budgeting ideas.  If you want to, then by all means.

I’m saying avoid buying things that cost tons of money that you’ll enjoy for literally a week.  Once Apple comes out with the newest greatest thing six months from now, your honeymoon period will be long gone.  And you’ll be $1,000 lighter in the wallet.

Choose to make better financial decisions, one at a time.  Choose to be happier just owning what you already own, and you’ll have more money to show for it.  Invest and save for your future self, not in the latest and greatest stuff.

I hope that this little rant may help spur some people to make one better decision that leads to another better decision.

 

 

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