How much should I save from my paycheck every month to put towards a new phone fund?
I make $600 per week ($2400 month) and my monthly expenses are around $750.
I was thinking about saving $100 per month for a new phone to purchase by the end of the year. I will probably just purchase the iPhone 17 just because I have always had Apple products and that’s is what I find easiest to use.
Savings for a new phone to purchase within the next 6 months
byu/learningfromredditor inFrugal
Posted by learningfromredditor
8 Comments
Do you feel the need for the newest phone? I just bought an iPhone 14 off ebay for $260, works great. I was coming from an iPhone X though.
How soon do you want it? Is your current phone dying? Sounds like you can wait until the end of the year, so I’m guessing it’s not urgent. Your plan seems good, you make plenty of money. You could just buy one on a credit card and then pay it off over time, too.
A simple math problem would tell you how much to save.
Someone at that low of an income level shouldn’t be anywhere close to an iPhone 17.
Get a used 15 on marketplace or something.
To get a new iPhone you’d want to make at least $100K more than you’re at in my opinion.
Sounds to me like you should evaluate why you need a new phone. I used to buy Samsung note until they went over $1k. Now I’m happy with a pixel. You can get a year or two old for $300-$400.
Why do you need a new phone? My wife and I have Samsung Galaxy s21, both more than 5 years old. They work great. I checked the new Galaxy 25. They will do exactly the same. We don’t feel the need for new phones.
i got a slightly older model Samsung at Walmart for $57. I can’t think of anything that an iPhone does that isn’t found in cheaper phones.
I know you really want that new phone, but, …like someone else suggested, you could buy a different one and save all that money! Or….do you have Medicaid or SNAP? If so, you’d probably qualify for a free smart phone.
I haven’t bought a new iPhone the last 4 times. I’ll let someone else pay $500 to open the new white box for me.