IS THE IPHONE 5 WORTH IT? PERSONAL FINANCE CHOICE & Links
Personal Finance Factors to Consider Before Buying the IPhone 5?
The Apple’s IPhone 5 went on sale this week. Some folks waited in up to a week to snare a place in near the front of the line. Like every purchase there’s a case to be made for either side. Open the news on your browser and you’re hit with “IPhone Sale Draws Huge Crowds” at CNN Money. Check out all the other news sites, print, online, television and the IPhone story is front and center. With all this coverage, one would think that the launch of the new IPhone is the biggest news in the world.
Consider these factors to decide whether to buy the phone or not.
Pros – Buy the IPhone 5 if:
- You’re a marketer and want the exposure that waiting in line offers (oops, that was yesterday).
- You have no consumer debt and typically spend less than you earn.
- It will give your life a great amount of pleasure and won’t mortgage your future.
- Someone else is giving you the phone as a gift.
- You can sell your old IPhone and significantly reduce the cost of the new phone.
- You job depends upon you owning the newest model.
- You planned for the purchase and set aside funds to pay for it.
Cons – Don’t Buy the IPhone 5 if:
- You can’t afford the new IPhone.
- You have significant consumer debt.
- You want the phone to impress your friends.
- You typically spend more than you earn.
- You think it will improve your status with friends and associates.
- You have no savings or emergency fund.
- The monthly phone contract cost keeps you from saving.
“Success isn’t measured by money or power or social rank… (but) by your discipline and inner peace.” Mike Ditka
Once you have adequate food, clothes, and shelter, material things will not provide inner satisfaction. Any new gadget is fine as long as you are not sacrificing your financial future in order to keep up.
Barb Recommends Personal Finance Reading
Editors pick; Do you want to slash shopping costs? My jaw dropped when I read this article at Family CEO Blog about a strategy she used to save a bundle on her daughters birthday gift. I don’t know what it is, but it she paid about 66% of the actual cost due to her savvy shopping tips.
- 5 Tips to Help You Deal with Economic Uncertainty at Free From Broke
- Do You Consider Yourself Middle Class? at Financial Samurai
- How to Save at Live Real Now
- There’s No Substitute for Hard Work at The Financial Blogger
- How to Increase Your Earning Potential at Invest with Passion
- Mortgage-15 Year Term vs. 30 Year Term at Joe Taxpayer
- How to Make Money Selling on Amazon at My Dollar Plan
Barb Across the Blogosphere
Please check out these sites that recently published my articles:
- Joe Taxpayer Labor Day link roundup
- Watson Inc., Uncommon News Link Round up
- Carnival of MoneyPros at My University Money
- Wealth Artisan’s FinCarn at Wealth Artisan
- Carnival of Retirement at Making Sense Of Cents
- Y and T’s Weekend Ramblings at Young and Thrifty
- Yakezie Carnival at Finance Product Reviews
- Yakezie Carnival at Stock Trend Investing
- Carnival of Retirement at Finance Product Reviews
- Carn. of Financial Camaraderie at Broke-Ass Mommy
- Carnival of MoneyPros at Young Cheap Living
What are your thoughts on buying the new IPhone 5? Add any additional pros and cons.
image credit; google docs_toucharcade.com