So I've been thinking about what is the most cost effective way to do smartphones currently I have the cheapest plan I can get prepaid but the phone is what I'm trying to figure out.
It seems like it makes no sense to buy the newest model since it looses over 50% of it's value in one year from my understanding getting around 2 models down seems to make sense since in a year of usage the depreciation is only around 5% or 10%. Would it not make sense to always just have 2 models down so when they put out a new phone you just sell your phone and get the next model up for example I have a Pixel 7a so I should sell it and get a 8a or 9a since black Friday deals almost make it similar price.
From my thinking it's kinda more costly to keep my phone as long as possible because adventually it gets to a point it's unsellable by upgrading every year by a older model you get little depreciation but also are able to get some money back from selling your phone. Id normally get refurbished phones to.
This seems to make sense to me I'm trying to figure out what the best value is if you put aside money every month for your next upgrade.
Upgrade Phone Yearly older model though?
byu/bluemoon1333 inFrugal
Posted by bluemoon1333
4 Comments
I think it can be wise to buy a model one or two generations older.
It will still be software supported. It will be discounted deeply. Most people don’t need the latest phone, especially when living frugally.
My phone is 8 years old. It doesn’t work as well as new, but it does the job.
Seems like a lot of work for basically no gain.
My current phone cost me $380 or something and is still going after 5 years. My last one was like $320 and lasted me five years. That’s somewhere around $80/year for a phone that does what I need it to.
I can’t see what you’re proposing being cheaper than that, and definitely can’t see it being worth the pain in the ass of moving all your apps, content, logins, etc over to a new phone every year or two.
I keep my phones until they either die or stop working because of updates not available. I don’t need the latest tech and I see no value in constantly getting up to date models. I do the same thing with my cars. What you do and how you use your phone is the determining factor.
I upgrade every 2 years to the 2 year old model. Bought a Pixel 8 Pro for $350 when the 10 was released recently.