Hi, my name is Jason and I’d like to admit that I’m a sucker for the latest gadgets, watches and technology! I love having a cool new watch, even though I have several in my drawer. Is there a new handy productivity app for my iPhone for a few dollars? You can bet I’m checking it out! And you can believe my interest is sparked when Apple releases a new product!
I haven’t been thinking about the iPhone 5, nor watching out for it in the news. However, the fact that it’s now available and is supposedly faster, slimmer and does who knows what else, has caught my interest. All those promo videos have got me excited and wanting to learn more!
However, I recognize that having the new iPhone 5 probably isn’t going to change my life significantly. I have the first generation iPhone 4 and am as tickled as I can be. I also typed part of this post on my iPad 2.
So, why upgrade and spend more money? Aren’t I already getting enough productivity for my life from Apple!
I don’t think my feelings for the latest gadgets are uncommon and I don’t think there is anything wrong with them. However, it’s my job to be smart about spending decisions. That $200 could be used for a lot of other things right now, like adding some extra money to the 529 plans for my kids or increasing some emergency savings that was depleted from my car battery and air conditioning emergencies that occurred just a few weeks ago.
Anytime a new gadget is available I have to consider the following questions before making a decision and certainly before justifying the purchase -
- Is this a significant purchase in which I should discuss with my wife? Generally anything that unbudgeted and the iPhone 5 is definitely in this category of spend!
- Do I really need a new one, or do I just want a new one? Probably a want in this case!
- Was there some sort of advertisement or marketing that got my emotions going? Like watching all those iPhone 5 demos on the web!
- Is there return on investment there for the product? Maybe I don’t need it, but could it really provide a great time or money savings to me if purchased now? I don’t know everything about the iPhone 5 but I doubt it’s a life changer!
A good rule of thumb when it comes to technology is to stay a couple releases behind the latest version. You’ll still be able to enjoy new technology without having to spend money every time there’s an upgrade.
Are you considering an iPhone 5? If so, can you justify the purchase? Let me know your thoughts.
About Jason Price