Recently, Apple Inc. has released its latest smartphone, iPhone 6. The topic has been on a hot spot for couple of days, and has nearly dominated my Facebook newsfeed!
If I were to ask you, would you buy an iPhone 6?
Why would you? Why wouldn't you?
Personally, I believe there is nothing wrong in buying iPhone 6 for my own pleasure.
I think I would buy an iPhone 6 because...
I think I deserve it.
It would be my "gift" for working so hard.
I can use its features for my pleasure.
BUT I think if I buy an iPhone just for my own pleasure, I am just being selfish.
Do I really need this?
Is this the only gift I can give for myself?
Is this the only smartphone or gadget I can use?
Based on most online gadget stores I have visited, iPhone 6 will be sold for about Php 30, 000 to Php 45, 000 in the Philippines.
If you buy this cool gadget, it would only last for about a year. Next year, Apple Inc. might release iPhone 7. So your iPhone 6 and other lower versions of iPhones will become outdated and obsolete.
You should not buy an iPhone 6 right now if...
...you are a practical and smart buyer
In this time around, the prices of iPhone 5 and other lower versions have become cheaper compared to their launching prices. But definitely, their qualities and features are still the same.
If you badly want (or you think you need) that iPhone, why would you buy it while it's hot? Let the burning meat cool down before chewing it ;) I believe that will be more practical.
...you do not have an IPON (savings) yet
iPhone 6 is expensive, but people buy it even if they don't have savings. Credit cards swiped aggressively for this new gadget, then later regret it when an emergency happens, and you don't have enough penny in your pocket.
If you have that Php 45, 000 for the iPhone 6, why not save it and invest it. If you put your 45k in an investment vehicle that earns 12% per year, after 6 years, it will doubled to Php 90, 000! That principle is called "the rule of 72" by Albert Einstein.
If you want to learn more about basic principles about investments, attend Truly Rich Makers Free Financial Seminar.
P.S. I am not against buying iPhone 6 or any latest gadgets. I just want to encourage everyone to learn how to manage your money well, and learn to prioritize savings and investments before buying your wants. :)