STOP BUYING YOUR IPHONES WITH PAYMENT PLANS!!!!

[@jvaldez5]

If you gotta buy it new keep it for at least 3 years before getting another one. I don’t understand people who buy a new phone every year

[@neldawg593]

I was using my 8s+ until this year January until i lost my damn fone.

[@Crazy-77]

Because they only pay only half the price of the phone. While someone else pays over a thousand dollars for it.

[@melovetorun]

Show offs. Most people on Instagram don’t even know how to take good pictures with their powerful phone cameras.

[@theerealatm]

Because society tells them to... And they listen.

[@bloodygwop7417]

Have an iPhone 6 til now, I’m thinking about upgrading to 12 pro max with an payment plan 🤔

[@jhawko1406]

Finally a tech reviewer saying “less stuff is better”

[@jmsmallville19]

Damm kid your words cut..

[@Mysticbladegod]

Easily one of my favorite tech people on KZbin now.

[@BushyHairedStranger]

Your possession start to OWN you!…why be a slave? Debt is for LOSERS…

[@JordonDev]

Buying things in full when you can afford it just takes so much stress off of having to worry about subtle growing debt, even if it takes longer to buy it. One of the issues on why this exists, is because most people have the inability of delayed gratification.

[@DayoAworunse]

Payments are actually not that bad if you know opportunity costs, and above all else, know where your money is going. Essentially sticking to a budget. Having a payment on something doesn't instantly make you financially bad or owning debt. Paying everything outright in cash isn't necessarily wise either.

[@SaltNBattery]

I agree. I just finished paying off an Iphone XR I got on release day. (I still have my Iphone 6+ sitting in a drawer because I couldn't sell it...) So I own a really nice paperweight. I was paying $25 a month for the XR, that I've had for 3 years. Right now, I can get $800 in trade in for the XR for a $1,100 Iphone 13 pro. Then I'll have an $8 payment for 30 something months.. I couldn't sell this XR for $800, not even $400. The microphone is messed up and the battery isn't great. I'm not horrible at math but I don't see a downside. I get the debt argument but I'm having trouble with all the conditions you put on the example I have the cash in my account to buy it outright and not wipe out my balance, but why the heck would I want to pay all that right now?? All of this is assuming you're going to trade it in in a year and never pay it off..

[@5.7_Soul]

Sticking to a budget is advise many people need rn

[@5.7_Soul]

@@SaltNBattery there’s a catch to that deal The discount is spilt across the length of payment so it just taking 30 dollars a month off the bill and not actually going towards the price of the phone

[@Adhgnis]

@@SaltNBattery how tf you get 800$ for xr when an iPhone 12 is like 380$ when give back to the carrier

[@ojso1224]

Exactly. Having some small payments to build credit is good. Having a good credit score is useful in case you need to dip into it for any reason, or you need a loan for something that will make you money like a business. My mortgage is also good debt. I got my FHA loan in 2017 and I’m swimming in equity right now. The PMI sucks on the payment every month but it’s much better than being stuck renting.

[@lilithmorrison7358]

Not owning my phone makes me anxious, that’s why I bought mine in full. Then again, I know that it’s not always accessible for a lot of people to spend money on a cell phone.

[@thetechlibrarian]

This is true. But you have to get creative if you want a expensive phone and can't afford it. When I first started working at my current job I was pretty broke so I had to start with a cheapie , then I kept buying used phone and selling them or trading up until I got a new IPhone. Now I could buy any phone I want, but that's what I did, or get a decent android from a prepaid company, the only thing your going to miss out on is the camera now days you can get a nice big screen and decently fast phone for cheap.

[@sahil47]

You don't really own phones nowadays. You wouldn't be able to tracked or your data stolen by companies ,if you actually owned it

[@jayamrutia1751]

Lol. I never bought a phone by paying full price. For example i just got iphone 13 with plan and financing and i will be paying total $270 Canadian.

[@n_icob]

@@jayamrutia1751 did you trade in an old phone for a promotional deal?

[@jayamrutia1751]

@@n_icob nope. You just need to find a right deal at right time. I have iphone xr which i can sell for 270$ and basically iphone 13 would be free.

[@BrianRouse]

Getting out from under a mountain of debt is unbelievably liberating.

[@Manicaflo]

@TJ so I’m getting a iPhone so aren’t you supposed to buy a number line too

[@Gamingwithtoast]

😊​@@Manicaflo

[@NCSheriff7]

Its better than pissing and sex.

[@nickydee569]

IMO debt only hurts if it has interest

[@alexleggett6270]

This video brought me back to my senses. I am a small business owner and my computer just died. I was thinking about making payments on a new macbook. But I've been running my whole business on a Samsung A6 for the last month and a half and now I'm realizing I dont need to waste money on a device that is just going to depreciate like the gentleman said. Nice video brother!!!

[@Convexhull210]

"The borrower is slave to the lender." Proverbs 22:7

[@j0hnny.j0hn]

AMEN

[@TheDukens90]

We can’t help it. House getting too high

[@tracyc.1005]

I guess we are supposed to buy everything in cash? House, home repairs ($$$), car (safe & reliable), furniture, laptop, tuition, cell phone (nobody uses a landline), on top of having money for groceries, utilities, car gas, health and life insurance, home owners insurance, clothes, stashing money aside in our 401k, IRAs and personal savings, giving, emergency funds, raising kids. I haven't even mentioned anything concerning entertainment, travel or personal wants. Living is expensive.

[@bcheo890]

@@tracyc.1005 living the way you want to live is. Living with in your means is expensive as well but not my friend impossible

[@rammani7170]

I was gonna send my money down the drain to buy the new iPhone... This is exactly the kind of sitting down and talking to that I needed right now. Thank you so much.

[@williamrutkowski]

I financed my iPhone 7 five years ago over two years. I’m still using it and will keep using it.

[@bertmyles9483]

I wanted a new phone , had 1200 , but didn't want to spend it on one go for the new phone, so I got it on a 0% 24 month plan. Invested the money I was going to use on the phone instead, and doubled my money. This was a rare scenario where a lease came in handy since I paid it all off within 3 months and still had a little over the same amount that I started with

[@bertmyles9483]

@@KieferL337 that was the whole point dude. You hyper fixated on the number

[@rushiljain9423]

@@KieferL337 See thats the whole reason why some financial advisors diss the 0% apr financing options. For 10k financing, you have really taken up debt without realizing it. Its gotta be with responsibility otherwise you are fcked.

[@Laurakittyxd]

This world is so expensive to live in these days 😫

[@User303-y1w]

Yh there are many ways to get income.You have to grind from young to be financially stable .Then after live your life lavish,being faincail efficient .

[@mangoryder7139]

🧐🧐🧐🧐🧐

[@piqieme]

Wrong. We’re just too poor 😂

[@kielekeen9039]

Talk about inflation man 🤧

[@figoeira]

Stop spending shit on things you don't need.

[@brybry111]

Its honestly insane what people will complain about when they have so many underlying problems they caused themselves. People try to live a certain lifestyle they can't afford and get caught up in the system of interest. Banks and universities and car dealerships and cell phone providers certainly have "interest" in providing you these services that sound amazing on paper but people who actually think long term will avoid all this. Why would anyone in their right mind rather have more money and things now and then less in the future. You want the complete opposite.

[@ChrisCanadianHusky]

That's why I always preferred to buy something up front that I can afford instead of stretching out of my limit. I wasn't always able to afford buying the latest and greatest phone, but that didn't matter. What mattered more to me, was being able to have control over my financial situation, rather than buy an expensive piece of smartphone or laptop or whatever for the sake of it

[@dark_nightwing_xl2797]

Exactly

[@nixonmalasi8982]

Only for another 'better' version of it to come out the following year.

[@lukefromtexas]

I upgrade my phone ever four or five years. When I know I am going to buy a new phone, I put aside $100-150 per month starting in January for the phone launch in September. Financing through carriers locks you into their system and it usually requires expensive plans.

[@AlexxxCrossss]

I like this idea

[@WizardOfWor]

That's exactly what I started doing now. It's smart by planning ahead.

[@AnthonyGMendez]

It was the same thing when we were on contracts. Its a choice to stay updated. Just like buying clothes throught the year. You might buy a shirt $20 $30 shit adds up even though you're not being a slave to the lender.

[@techno_eclipse]

Yes I agree, it's insane how in one day you eat out twice, shop a little and 5 hours later you've spent 300 bucks.....

[@michaelkarayev4382]

Strongly agree! "Will it add value to your life?" genius question! If you really want new iphone start paying yourself 45/mo for two years and then purchase it with cash!

[@shaneedwards3518]

I just got the iphone se 2020 for 28 pounds a month for 36 month contract and this includes insurance on loss and damage. I get 12gb of DATA and thats more than enough for me. I like to do the 36 month program because it teaches me to wait for another upgrade after 3 years lol

[@kingzach74]

@@shaneedwards3518 However, you still don't actually own your phone. I would suggest you put 28 Pounds away each month so that you can buy a new phone with cash when your 36-month contract ends, if anything happens to your current phone then you can use the money you have saved towards buying a new phone. This way, you own the insurance policy and can pay yourself out whatever money you put in. Insurance companies often will try and pay you as little as possible if you file a claim.

[@Cooking4me_928]

Your right, I buy it and if I can't afford it with cash I simply don't buy it. I hate owing anybody because I never want to be at their mercy.

[@Zack82495]

Loved this video! My fiance always complain about me ordering old phones off eBay but this is exactly why I do it! Subscribed!

[@TrilmaRose]

WOW! Finally a genuine tech reviewer. No bullshit. Such people should be promoted.

[@bryanmiller476]

You realize that phones don’t have interest right, Weather you pay the off at once or set up on a plan you pay the same There’s absolutely no value in ✌️owning✌️anything really

[@theerealatm]

But you never keep what you've been paying money for. Like imagine if someone could possibly take food back after you've paid for it and ate it. They've got your money and the food. You've got a new plate of food and LOST money. They've got the old food and can resell it and new food to sell AND your money.

[@FlexSZN23]

The value in owning is that you don’t owe someone else money you moron.

[@bryanmiller476]

@@FlexSZN23 there’s no value in that, that’s just being stubborn and set in your old ways and keep something junky just to tell yourself you didn’t upgrade lol

[@brianj.6867]

He’s the type of guy who justifies purchasing stuff he can’t afford using that “logic.” Also, it’s “whether” not “weather” you idiot.

[@bryanmiller476]

@@brianj.6867 Webster died so I can spells any words how I want lol

[@RushButter]

I own my phones for 3-4 years at a time. I have plenty of money to buy any of the newest iPhone upfront, but I’m still choosing to buy the new iPhone on a payment plan because I just don’t want to drop all the money at once.

[@minstreltokunbo]

exactly !

[@alexandermendez9013]

I guess that's the case for some people but the payment plans for the vast majority of people is a way to justify not being able to actually afford a 800 dollar+ phone

[@nickneff6926]

Thing is I just tried to buy google 5 pay cash for whole amount .... it’s 200 more dollar to pay cash for new phone VIA Verizon

[@Convexhull210]

But the difference is you have the money upfront while most people don't.

[@nickneff6926]

@@Convexhull210 besides point.. ya dont go to burger king and order a whopper and they say sorry sir its gonna be 10 instead of 7 cause ur not making payments... bullshit.. chick told me "verizon doesnt make money on the phones" ok then sell me the fkin phone.. so i dont have to go to bestbuy buy it normally with verizon activation then go back to verizon store to say "see..." im too turned off by it all ill stick with my iphone 7 fk it literally same as the 12 i used one....camera is the fkin same too...

[@JWalton314]

@9:12 I think this was the best advice in the video. People will argue that paying it off with 0% interest is the same as paying it off in full but getting a huge discount can't be argued with.

[@joncruz]

What’s the problem financing something at 0% interest? Economy rules = Always spend someone else money while keep your money save! As long as it’s 0% interest.

[@mellowecho]

im terrified of debt so like when i start to work ill save my own money to pay it off as a whole to own that item i hate the idea of credit cards

[@ScreamTatumRiley]

When I buy a phone I keep it for 6 yrs or until it’s not usable. I have an iPhone 8 Plus right now I’ve had it for 6 yrs. When I call someone I can hear them but they can’t hear me and the screen is coming apart this phone has been through it but as long as I can receive and send text I’m not getting another phone

[@ettoreferruccio6124]

This video has some good points to consider but the points that he's building his arguement on is not strong enough. Debt is not always BAD. It can be GOOD if you know what you are doing.

[@techno_eclipse]

I understand that deb “can be leveraged efficiently” however let’s talk about someone who is just a normal person. Probably 99% of people watching this video. Debt is terrible for them, it is never good, and if they try to make it good they over leverage themselves and we see a massive economic dips like in 2008. This economic down turn has shown some perfect examples of when debt is bad, many business are closing because they over leveraged themselves and they were using debt properly, or so they thought. In economic downturns, like what we are about to experience, the only people that are hit hard are the people who have debt. Debt free is a more comfortable place than swimming in it

[@ettoreferruccio6124]

@@techno_eclipse True. Not everyone is capable of understanding economics and mathematics involved in long term and short term debt and how to take advantage of debt. For them it's basically understanding that there is a difference between being able to buy something and being able to afford it.

[@davidfence6939]

Problem is most people don't simply acquire one debt, pay it off, and move on. If this was always the case you'd not see the news talking about the billions and billions of dollars Americans are in credit card debt. Can debt be helpful? Yes Is it helpful to add more debt? No. And therein lies the exact problem. Most of these people have some other debt. Student loans, car payments, credit card debt, mortgage, and on and on. Why add more to the average consumer? And you're also asking people to take more time and effort than their basic checkbook balancing and payment spreadsheets. Yes, you can make something good out of some debt, but for the vast majority that is an UNWISE choice.

[@BushyHairedStranger]

The only time you can AFFORD something is when you have the cash in your pocket to pay for it in full. Debt is for losers.

[@mikethemechanic7395]

Blame the people who wanted to upgrade every year. I used to buy iPhones for 200 (AT&T) and at the end of the 2 years. Sell it on Craigslist for 200. I never paid for a iPhone after the 4. My last one a 8 plus I made payments on. Sure I could pay it off at once but why. I am pissed off everyone ruined the market. That’s why I have not upgraded in 3 plus years. I am purchasing the iPhone 12 and paying for it in cash.

[@tommyg4334]

This is really all relative, depending on the person. I buy a new phone every year because I travel a lot, and my phone is my main camera, video recorder, news feed, and all around communication device. I’m paying 0% interest, and cash flow is hardly affected. On the contrary, when I consider it, less than two dollars a day for the device that I rely on so heavily is a bargain. That includes insurance in case I drop my phone, or it gets lost or stolen. People don’t think twice about spending double that per day for a cup of Starbucks. How’s that for perspective?

[@lv5310]

Correct. That's where the annual income comes into play. If it's less for you and you've taken care of all your bills and made the correct decisions then you're in a position to make moves. Many are already buried in debt and decide to take the phone regardless

[@tommyg4334]

@@lv5310 exactly, which is why I mentioned that it's all relative, depending on the person. Obviously not everyone is in the same position.

[@joelpatrol1997]

People aren’t taking out these plans bc they can’t afford the product up front. It’s just preferable to have the money in your bank account. It accumulates interest and is available in case of emergencies that way, whereas in an emergency finance might not be available

[@whitegoodman7465]

interest on 1000 dollars is pennies..most people dont give af about keeping the money in their account for interest. They just truly DONT have the money to pay outright right there and then.

[@vishizzy]

I thought sprint has no interest

[@syndicate2896]

@@whitegoodman7465 Umm, not really. Most crypto apps offer 10% interest per annum for stable coins, so thats like $100 extra an year, not even calculating with compound interest. I'm pretty sure people can save up a few thousand dollars. If you are going to buy that phone then get it on credit and invest the money somewhere else. Also, if you can't afford it upfront, then don't buy it at all lmao.

[@drcola143]

@@syndicate2896 Assuming you bought the crypto at the time of the comment and bought the phone with credit. Your money is down, even if you’re staking. Even if you were making 10% per annum that would be $300 earnings. But you’re losing more than $300 with the carrier wireless plans. The actual credit might be cheap but I. Order to buy the phone with the credit you need to buy an overpriced wireless plan

[@Chee.Y4ng]

Right

[@thegman7523]

Well said! We paid off all our consumer debt in February...took us about a year. That included my iPhone 11. Yea when I want a new phone I’ll pay it up front from now on. Or I like to play the debt game on big purchases. Pay for it on the CC. Then immediately pay it off when it shows up to get the “rewards”. I’m a little reluctant to buy phones off of eBay. I may just go with the model from the year before. Like getting the iPhone 12 when there is a 13. I rather buy new but not the latest.

[@rushiljain9423]

Why do you think you wont finance the iPhones? Considering you are responsible and understand how it works, you can utilize the 0% apr financing in your benefit. I agree with not buying the latest model though, has good deals

[@kingzach74]

@@rushiljain9423 0% financing is a scam. You still don't own your device, and you will lose money on it the longer you have to keep paying payments on it. If your phone breaks you still have the pay the rest of the loan off and now you don't have a phone anymore. The only way you can ensure you can still get your investment back is if you buy the insurance policy on it. The problem is, chances are you won't be able to get the full purchase price reimbursement or you might not be able to get a new phone to replace the broken one. Often you will get a refurbished phone instead that has a depreciated lifespan over a new one. However, at least if you get the insurance plan you have decreased the Total Cost of Ownership. If you also add a protective case to the phone to protect your investment you have now ensured that if anything happens to the device, either the insurance will pay out, provide you a replacement device, or your case will protect the phone and you can still use it. Think of it like this. You buy your phone with a credit card or wherever you got it on credit, unlike cash where you can trade it in for another purchase, you cannot necessarily trade it back to your credit card company and get your money and debt back. If instead, you bought it outright, you can immediately trade it or sell it to someone else. This way it is a liquid asset, meaning you can quickly get money to use for another investment. The same thing could be said for large multi-million dollar homes, especially those purchased using a loan or asset holding company. You don't own the home, so you cannot quickly reinvest that income into something else. Granted, unlike phones and cars which will eventually depreciate to $0, a house will never be worth $0 as (hopefully you do) you can purchase a home insurance policy if anything happens to your house, such as a fire, water damage, or any other natural disaster will pay you out a large sum.

[@natnel617]

I feel its FOMO for most people when they upgrade. Me included! I currently have a Samsung note 10+ and to be honest with you, I dont use even half of the new features and it costs me £59 per month. So, I decided, that I will NOT be upgrading my phone when the time comes. I will go on a sim only plan and keep my phone and just get a new battery.

[@coltonphillips1]

T-Mobiles payment plans are 0% interest so it’s not a big deal to me.

[@salmondood6233]

And the phone is completely yours when you finish the payment plan. This dude is bullshitting for views

[@user-tb7rn1il3q]

@@salmondood6233 I own a home and two newer cars outright. I have a high net worth, but I am $600 in debt for an iPhone with zero interest. I’m not too worried. I have no other debt.

[@theerealatm]

@@user-tb7rn1il3q you are the exception... Not the rule. Many people are in phone, car, home, student loan, credit card debts.

[@omarm6678]

@@theerealatm Debt in itself is not a bad thing. You shouldn't be buying a new car/phone even if you have the cash upfront, if the old car/phone works good enough. However a payment plan is not evil in of itself: A. Someone buys the 1000$ phone upfront B. Someone pays 0 interest ~42.5$ per month over 2 years. That personal also invests that same amount in an index fund that nets 10% annual accruing intrest. By the end of the 2 years they will have made ~100$ on the lent money. tldr; buying a new anything is dumb, buying on a payment plan when you have the money upfront is less dumb, buying on a payment plan when you dont have the money upfront is retarded.

[@Xotiic_Creations]

​@@omarm6678hey I know this is 3 years later I'm 14 i get 461 I have 200 to spend currently So I'm curious because I want to open a account with T-Mobile and start a payment plan for the iPhone 15 pro max which is around 50-70 dollars then the unlimited talk and text for around 80-90 but the thing I'm worried about is I called a T-Mobile store today and the guy said it depends on your credit, you have to be 18+ to open account so Im having my dad open the account but I don't know what his credit score is so In just wondering the specific number I need for interest free payment plan?

[@jjswoosh7029]

Preach people care so much bout credit, doesn’t mean that you have money it just means that you had an good history to pay your shit off

[@mikeexits]

At 24 I still haven't gotten a credit card and have no credit score. Starting to really wonder if it's needed to move into an apartment though. I can't seem to find a straight answer. My friend who lives in the state I want to live in says that "some" apartments require a credit score.

[@shadowsmith1386]

How that don't make no sense shut up

[@texassasquatch6467]

I generally agree with you but with phones depreciation here is the problem... you buy a phone in january for $1000, and a year later you sell it for 500. Youve lost 500. You do the same thing with a no interest installment through the carrier and the phone is elligible for trade in once its paid of 50%. You have only spent 500 and that other 500 has been liquid and available to you the entire time. In the first scenario its been tied up in the depreciatiing asset.

[@daebruh2034]

It’s actually best to leverage 0% offers through lenders/service providers as you take NO loss there other then it depreciating which all devices will whether it’s new or used. Keep your cash tied up in investments such as real estate, stocks/crypto etc yielding higher returns. As long as your investments are yielding higher returns then the money you are “borrowing”, you are doing it right.

[@Noa15Lv]

HI there! The "Payment" plans used to be an life saver in my family, where us "kids" wanted to get our own phone so that was basically the only method to have an hands on it & paying off phone in 3 years, so you could have another one after those hard 3 years of paying it off.. I never understood my parents about this one, but hats down to them for keeping the bills paid, food on the table AND let us having an proper decent "smartphone" in our pockets. And now, when i've been working & doing life stuff on my own, i slowly start to understand their hard works couple years later.

[@Techieguy93]

Good advice! It's nice to hear that level of wisdom coming from someone of my generation. Keep up the good work!

[@dragonzonezone6573]

The dislikes are from those credit card companies. haha

[@techno_eclipse]

lol or the people that “beat” the credit card company’s

[@sagemoonchild333]

@@techno_eclipse facts! That's the most hilarious thing I've ever heard. I use my credit card for points or airplane miles.....GTFOH

[@thunderspence8183]

@@techno_eclipse those people miss the point. Borrowing always pays the price. I'd say interest is a penalty for not saving.

[@dr.apollo9644]

11:50 On thing I disagree with is that you should buy your house with cash because they are the cheapest loans you can get, so if you have a loan with 3% interest you could take the extra money and put it into the SMP 500, witch grows 10% a year. You would be making 7% of you money vs putting it all into you house and just having a house. You could make more money with your money or you could buy a house with it.

[@techno_eclipse]

I don't disagree with this at all, I think I was trying to prove a point more, I bought a home with a loan because rates are at all time lows

[@michaelkiese7794]

The fact that the true inflation rate is likely above 10% is what gets you.

[@DavidLiang617]

debt is not always bad when you know how to take advantage of it. With low interest rates, its better make a small monthly payment, so you can have more money to invest. As a result, you can make more money having some sort of debt.

[@jango156]

Agreed, but don’t carry debt on an iPhone. That’s just pathetic.

[@sagemoonchild333]

Agreed but 99% of people are NOT this disciplined. Most people do not invest and they just use credit to buy what they can't afford.

[@iiSup3rior]

Yes but if youre looking at homeownership or even a new car credit is important.

[@chrisd6736]

I’d kind of be dumb to pay for everything up front if I get 0% interest on my Apple Card. I can put more money towards my student loan with 6.8% interest rate. I need the new phone for work my old ones battery is expanding.

[@sagemoonchild333]

Nah it's kind of dumb to spend money on a new phone when you can replace the battery of your current phone for a fraction of the cost.

[@chrisd6736]

@@sagemoonchild333- they wanted 550 dollars to fix my iPhone X

[@sagemoonchild333]

@@chrisd6736 $550 can get you a refurbished iphone X very easily. A quick search on ebay just now, I found a silver iPhone X 256GB unlocked with the box and all accessories in like new condition for $454. Free shipping too. I would've just gone that route and swapped out the sim card. You could've also sold your old iphone for parts to make up some out of pocket cost.

[@chrisd6736]

@@sagemoonchild333- ya thanks- I’m just gonna sell the old one for parts.

[@rippedshredda2465]

@@chrisd6736 I have an unlocked silver iPhone X 256 GB in perfect condition... no scratches or dents. Always had a case and screen protector. $380 if you’re interested. I’m getting the iPhone 12 Pro Max.

[@bhavneetsingh94]

I was looking for a video like this and THIS IS AN EYE-OPENER.

[@ohhaiJess96]

I use my credit card for all my purchases but it’s only what I can afford and before the month is up completely pay off my balance. It’s helped build my credit it that way so much

[@wanilimbe]

Don’t make any sense at all

[@ohhaiJess96]

@@wanilimbe how? I never leave a balance on my card and it shows I’m financially responsible I’m 22 with 810 credit score.. think I’m doing ok..

[@Tigerblood951]

@@ohhaiJess96 is it really that easy? Cause I need to start building my credit up lol

[@frankniethardt1813]

iPhones don't drop that fast in value, but in principle you are right...

[@techno_eclipse]

Well trade in wise they fall quite fast, but yes I was a little bit overexaggerating

[@Angelhrlqn]

I was told it would be better having monthly plan for an iPhone, which made me kind of anxious and rethink my decision of buying my iPhone outright, but I’d rather buy it full price knowing it’s mine. I’m also not the kind to buy phones every year so I’m happy with my decision. 😊

[@108mtsan]

do you still use the same phone

[@Angelhrlqn]

@@108mtsan Yes!

[@diamond6256]

I totally agree. I own my home, car and no credit cards. If I can't pay cash I don't buy it. Although with owning your own home comes, Property tax once a year, that is still $300 mon but no $1,100 house payments. I have a jitterbug phone that is $23 a month and everyone wants me to get an iPhone, well, what for? If I get stranded I still have a phone. (65 in Texas)

[@Amazingday22]

You should tech in schools for the future generations keep the good work 🤔

[@techno_eclipse]

Thank you!

[@killuachill5260]

but you need a iphone or a Samsung so?

[@jerem0621]

I use this principle for my tech. I have an iPad Pro 11 with 256 GB that I paid $599 for used, the Apple Pencil 2 I bought used for $65, and the iPad Smart Keyboard Folio for $50.00. My iPhone 8 Plus is paid for and I am about to replace the battery and the screen. I just bought a new Apple Watch 3 from BestBuy for $199 and it works perfectly fine. I don’t believe in financing tech. :) and slightly older tech works great!

[@User303-y1w]

Yhh if I buy a high end phone I would use it for max 5 -6years .

[@davidfence6939]

If companies offered software updates for more than Samsung's new industry leading 4 years I'd agree. I've had my Note 8 since 2017. I feel it could last another year or two, but I no longer receive updates. And I can't use the 5G UW in my area. Even when unlocked the software issue can persist. And add that 5G will become the normally used band more and more in the years to come. I think 3-4 years is goal with any phone. You can stretch a flagship to that 5 year point, but a mid-range or lower may not last as long unless you're a light user. And most people who buy mid-range and higher aren't light users of their phones. This means consistent wear and tear and draining of the battery. Really miss removable batteries.

[@user-pj5ju9sm5r]

Credit Card is very useful if you're responsible. I just pay the whole balance at the end of month, no added interest! Over years I can use the points for free flights.

[@galupproperties3098]

I switched carriers to visible(runs of Verizon) I pay $25/month and it’s so worth saving $540/year over my old regular sprint plan which was $70/month.

[@utmost-F16]

What's wrong with renting a phone and get latest new phone every year??? If you want to own it you could just pay off in full and get out of the contract

[@killuachill5260]

nothing really

[@Alex1234845]

I personally don’t see the issue in essentially “renting” a phone. Technology advances so quickly I wouldn’t mind paying a $42 a month for the best newest phone, and then upgrade to the newer phone the next year, and the next year, always being up to date. I can afford the phone out right on spot, but to me if I’m upgrading every 1-2 years then why even bother buying it outright

[@techno_eclipse]

I would ask the question as to why you feel the need to upgrade your phone that often?

[@Alex1234845]

Scott Schroeder I’ve been doing every 2 years. To me, devices seem to date relatively quickly design wise and tech wise. I spend majority of my work on my cell. It’s my lifeline from email, to social media networking, to business calls/texts/FaceTimes. If I use something this much daily and consistently, I feel investing in what is the better cellphone is what’s right for me.

[@TheGamingAudiophile]

@@Alex1234845 Bingo!

[@TheGamingAudiophile]

@Ark Because it’s our life and we have the money to do so.

[@Alex1234845]

@Ark I have an onlyfans

[@NGreedia]

same concept with financing your vehicle but that isn't stopping people from financing or leasing. number of people buying cars in cash is probably next to none

[@stevenl900]

Bought a friend’s iPhone 8+ for $200 and I find it hard to even get the urge to spend $1k+ on pretty much the same experience. Will hold and change out the battery and use it for at least 4-5 years. 3.5 years old now. :)

[@saintaustin]

Or just trade it in to T-Mobile for an absolutely free iphone 12?

[@freetris9556]

@@saintaustin well you have to 1 add a line 2 have an installment plan, technically in debt but the credit gets applied each month. So it is a good deal but you are locked in place with their plan rates.

[@lseul8812]

Dont buy stuff you can’t afford, but that doesnt mean dont leverage your credit. I can afford personally to buy a new phone outright. But at 0% apr it makes no sense for me to do so. So if you can afford it but also can get good rates on a payment plan, take it

[@danv965]

Thank you for the heads up. I will spread the word in my hood to my people so they can know and they can spread the word as well. Thank you for that piece on financial education. I know I appreciate your info and time.

[@Joshtheweatherman]

I financed a new phone, because my iPhone 7 was on it's last legs. I have a fair credit score and T-Mobile doesn't do hard pulls or anything like that. They just glance to see if it's 600 or above. I was instantly approved, and I got a S22 discounted at $599, and it was $0 down. It can actually build up your credit, but only a little if any. It's not like paying off a car or house mortgage. This basically exists if you want a good phone without paying cash for it. You will lose your shirt if you pay cash. Just like a car, it depreciates as soon as you open the box. That's why most people prefer to finance instead of paying cash.

[@anna2happy23]

Damn, now I feel bad about buying the iPhone 11 now 😔. I brought it cash too. The value thing makes me sad now...

[@pockyrice7418]

fr i actually bought my 12 in cash just last week, but my friend who works for apple got me a discount for it 😬 lets just use our phones till they out

[@gogetter8470]

You’ll get money back for it and still payed to get use out of the phone for a while and to have a phone so not really a loss!

[@JudgingKitty]

not everything is about value degredation. if you have fun with the phone because it`s not annoyingly laggy, if you use it as your only camera, if the battery lasts long etc. you did an fantastic purchase!

[@iownu92]

10:11 "This phone is almost unusable, but it's the principle of the thing" I'm not about to try to buy a broken phone to save money. That's gonna give me more headaches.

[@techno_eclipse]

Yeah my example was extreme, don’t buy a broken phone. But I’d rather have a broken phone than phone payments lol

[@iiSup3rior]

The logical thing here is he could have used the money saved to fix it. So now he bought a broken phone and has spent the money saved on takeout or some other useless nonsense. Thats what saving money usually is. Using it for something else thats completely useless

[@patrofanmaasmechelen8473]

Don't really see the problem. I bought my 6s 4 years ago with payment per month. I paid it back, now it's mine. So.. ?

[@josecoronel7938]

You were smarter though, normally people buy it on a plan year after year but you got the full value out of your phone

[@alexxesc_]

@@josecoronel7938 exactly. The plans are great if you plan on useing the phone for more than just a year then get a new plan for the next gen... and if you really wanted to trade it in 2 years after you buy it you can literally pay 5 dollars more for the early trade in..

[@FNJ720]

What if you buy your phone on the plan but keep it, instead of trading it in? I’m old fashioned, if I pay for something I want to keep it. I got the iPhone XS Max in April 2019, I’ll be finished paying for it soon, like Jan or February. I’m not getting a new iPhone until fall 2021 when the new iPhone 13 comes out. I’m not trading in my Xs Max, I’ll just get the new one on the plan or should I pay cash & buy it outright? Or what if I pay half of the price of the phone & the rest on the plan over time?

[@charifield]

This is a no-brainer. I have never financed my phone, not even once! Every phone I've owned has been 2-3 years older on eBay, works wonderfully, NEVER had a problem.

[@lucabra983]

The real argument for not doing installments is that it’s encouraging smartphone makers to introduce more expensive devices, and now start pushing 30 month or even 36 month installment periods. We’re trending up in flagship smartphone prices toward $1300-$1900 in some cases, and people are increasingly buying them because it’s spread out 3 years now in payments

[@n_icob]

I traded in my iPhone 8 for a free iPhone 12. When I pay off my 12 in 15 months (30 month contract then the phone is mine). I own the phone and I can trade it in for promotional deals for full value of the newest phone.

[@kingzach74]

@@n_icob You don't own the phone for 15 months. If you cannot immediately sell your phone to someone else, then you don't actually own your phone. Apple sells the data they get off your phone while you use it, therefore you don't even own the data on your phone nor do you own the phone itself.

[@RyGuy8989]

Yep and with Apple supporting it’s phones with software updates for 5 or 6 years now it’s not a big deal to buy a year or two old iPhone. Currently using a 4 1/2 year old iPhone SE and it works better than new!

[@t0neeh213]

Credit is good.... imagine buying a 800k house in California cash.... yea imagine that

[@TROY2048]

this is an interesting philosopycal dilema - buy new phones and enjoy the best stuff, or use older phones and save money for other things, I suppose it all depends on your income

[@aayushverma2000.]

Bro huge advice that every creator should give to consumers . Love you from my india .

[@lorumipsum1129]

I always say, if your going too finance anything or use a credit card, make large payments, and pay it off in full asap. (And get in unlocked)

[@Shuryoukef]

I agree but at the same time disagree with you. I understand that it is better to just buy things you can afford and trying to be as minimalist as possible. However some phone plans really do make sense and even save you money in the long run. Apple in the uk allows you to repay the phone in 12 months with 0% interest (100£ish per month) and some carriers' plans like 3 UK give you more data and perks for cheaper than when buying the phone and getting a SIM Only deal. Plus you can get the latest iphone sell it brand new and buy last years flagship. Eventually it is about getting the best possible deal and if you can/want to make money of a plan then that is also possible. Btw love the videos, keep em coming

[@commanderthorn3466]

that’s good for the UK but not the US

[@DylanM15]

The thing is most people don’t actually do yearly upgrades. The vast majority of average consumers buy a phone and keep it for minimally 2 to up to like 6 years if not longer. Most people tend to do one of three things; buy old phones outright($200 or less for the iPhone from 4+ years ago or an android device), buy a new phone on payment plans and just keep it past the 2 years on payment plans paying it off, or 3 are on a payment plan and pay it outright after the first 12-18 months. Also payment plans do have their benefits like boosting a credit score which is something needed for some purchases.

[@juliocardenas1588]

It’s called building credit

[@jasont5009]

I usually pay mine off I don’t see any reason in upgrading every year it’s kind of stupid just pay the phone off unlock get a new battery at the apple store for a fee unlocked iPhones are worth alot of money in other countries where it’s not possible to get your hands on one

[@vincentstouter449]

🤔 I appreciate your thoughts on having no payments on phone equipment and refusing to buy on payment plans for psychological reasons of well being. That said, if one wants new tech, a no-interest payment plan constitutes an interest-free loan so if one has the money investing the difference and choosing the no-interest both establishes a level monthly budget and allows one to earn interest. I agree completely on avoiding credit interest payments and buying used (with some warranty). It build character to defer spending and have a “wish list”. This allows time for evaluating actual need and have the time to bargain shop.

[@southpaw4713]

Lol, in Australia we have phone plans anyway and last year it worked out that if you have a high plan as you make a lot of calls and have lots of data your phone is free on a 2 year plan. I got the XS max for that plan as I use it a lot for business. So I think all Australian telephone companies realised then they changed the plan to a 3 year plan. Now it’s not worth it to upgrade.

[@timparker9174]

It's good advice but using an iPhone with a barely usable screen is just plain torturing yourself. And that is not worth saving $100 forgoing a screen replacement.

[@killuachill5260]

yeah if you buy stuff brand new its actually cheaper less problems less repairs

[@xXAnni3LuvsYhuXx]

It’s actually cheaper to buy the phone sim free. Spent time calculating it and I was shocked. I always thought buying phone contracts was cheaper

[@evacody1249]

Yeah I learned that really fast when I got my first phone from Virigin Mobile years ago. Owning a phone out right the cell bill is so low.

[@freespirit8791]

This guy makes total sense to me. Good video!

[@rickvxy9681]

Not really

[@mdog11400]

If you do it smart it’s not an issue, I typically trade in my old phone. Normally get 300-400 trade in value pay half the remainder up front and do 0% Intrest for the rest. Always have the money to pay it off in my account

[@niyahparms4836]

see i was gonna trade in my phone and pay about 30 a month for the newest phone but i intended on keeping it for years. i didn’t know if that’d be a good or bad decision

[@yrnrae]

@@niyahparms4836 so is it good or bad ?

[@jeffaugustin3433]

Real talk thank you so much man you deserve more Subscriber.

[@the_flushjackson]

Wholeheartedly agree with you on cash vs. credit. In terms of the “things” you’re talking about, there have been cases where I’ve made enormous amounts of money that were completely enabled by new technology. You have to individually assess what the opportunity cost is. It’s true, the average person doesn’t need all of this shit. However, there are cases where you’re using these things to make money and newer technology saves you time. Time is money. Etc etc etc.

[@vandelayindustries4267]

Endlessly watching these tech reviews where they swinging with latest and greatest stuff you actually don't need this was refreshing to see. Thank you, and always name it by it's right name! Keep on good work

[@funnylife7585]

I bought last year's flagship Samsung S20 FE 5g 256gb from Amazon renewed for 557 including tax. Got Brand new phone.Paid in full. Can add 1Tb microsd card for 100$ next year, once i start having storage issues. Got strong cover and screen protector for 12$. Will be able to hold off the device for 4 years that way. My last device was 150$. Used for 4 years. Now wanted to upgrade for 5g and better coverage.

[@allanj.p3663]

What if you tryna get credit_

[@tamekaturner7006]

Very helpful!! I don’t know why I feel the need to upgrade my phone every year with the iPhone, I bought the iPhone 11 last year in purple in May and they came out with the iPhone 12 in purple this past April and I bought that🤦🏾‍♀️ only because the color was darker than the previous version, this video is helping not to make crazy choices like this anymore!! Very glad I came across this channel🙂

[@NumbNuts7311]

I got on a payment plan for my 10xr. My 6s+ broke My company pays for my phone bill so I basically just make a phone payment. I need a phone for deliveries so my phone pays for itself

[@sechelaningambi9631]

What if you get the phone on a student Visa or 2 years plan but dont pay for it???

[@tomburnham6640]

Yes but you could have bought something a lot less expensive that achieves the same goal.

[@TheM275]

Tom Burnham if he can afford it who cares? If someone can afford a $100k Mercedes yet a $20k Camry does the same thing why would you?

[@imleegaming9810]

It’s no problem pay in full but if you put it all on you’re card and pay it you’re still making money while paying off something it’s called being smart if you pay something off in full you’re still gonna be In debt to yourself because you’re spending a large amount at once when you can spend a medium amount over and over while continuing to make you’re money back instead of just taking a huge loss in you’re money

[@lmbtcs1879]

This need to been seen by more people

[@xthabarber]

I found $1300 Note20 Ultra on Amazon for $1050 I had the cash so I bought me and my wife one and returned the carrier version. MAN for the first time in YEARS we don't have a phone payment and it FEELS GOOD! 🤪

[@HIThitech]

question: if i can afford the monthly payment plan without having to use a credit card, should i buy it monthly?

[@techno_eclipse]

The idea is to never have payments on anything. If you can "afford" the payments, but not the phone outright I would not suggest buying it. I would lean towards a cheaper more affordable option, I look used typically, but even apple has released some good cheaper phones recently!

[@Oliveoilgirl]

If you do payments then you paying the real amount + interest.

[@MrDimaGavrilov]

​@@techno_eclipse Ok, But, from this point of view, it means, that you should not loan money for a car or a house.

[@DylanM15]

@@Oliveoilgirl There is no interest from carriers or manufacturers(Verizon Sprint, Apple, Samsung, etc) from phones. If a phone is $700 and it’s being paid over 24 months. It’s going to be 24 months of $29.16. No interest. Anything else being paid is for the phone bill itself for line usage and data. Only third party companies that are like Affirm, Bread, Klarna, etc which allow for people to do payment plans.

[@DB-of5ls]

What you’re saying is very true, and it could make a major difference to many people. But, It all comes down to: WHAT IS YOUR BUDGET. If you aren’t interested in spending that much money on a phone, or you can’t afford to spend that much, buy a brand new older model. If you really can’t afford one, then buy an earlier model, used or new, for a fraction of the cost, on eBay. If the latest phone, is a must, but you don’t have the money for it, monthly installments is your option. If you could afford the latest phone every year, either buy the phone at full price, or trade in your current phone, for the latest model. The phone industry is messed up. Because after 11 months, the prices go down significantly. Some phones will make a difference if you upgrade, and some won’t. It’s your money, do whatever floats your boat.

[@7hrax]

ill just start selling drugs

[@ServantStatusMinistries]

Here is another problem I want to comment about with these device payments on these phones. These companies at any time can create a software update that will cause problems for the device you already finished paying for. Apple has done so. For example I never cared to upgrade all of the time and I still own my iPhone 6S Plus. It still works great. The only "issue" is the screen is not as bright as it once was because this phone is about 5 years old but I am okay with that because it was paid off 3 years ago. Now, I own this phone and have an extremely cheap phone bill and can switch to any phone company that I choose. But I worry about how long will I be able to do that because again this phone is 5 years old and apple does do software updates for their older phones but these updates can make the phone move slower or eventually I can have issues with just basically making a call and receiving texts. So even when you own it there is the fear that you paid all this money for something that will not last as long as it should. At least with a car which works on the same scheme, it will last you some decades, but a phone wont last half a decade due to software issues. Then there is the fact that I got an ipad pro to do my illustration work and for notetaking and animation on it so I am not sitting in my house for 10 hours working on my wacom everyday. That 2017 Ipad pro is paid off already and I got it at the end of 2017. It is now the middle of 2020 and can you believe this 600 something tablet won't come on because it just has a hardware problem? That's just 3 years!!!! There is no cracks in the screen, barely been dropped, and never touched water to have water damage and yet the ipad crashes. I took it in for a diagnosis check and did the hard reset for days and its concluded its a random and common ipad pro hardware issue. If I wanted to get it fixed it would be the cost of an entire new ipad air that was just released early last year. I don't care to use this ipad for its camera or entertainment. It was for my work! So you see how corrupt this entire thing is? A hardware issue should be fixed for free by the company and these companies should have more than just 1 year warranties on devices for hardware issues for devices that are practically 500-1,000 dollars. At least have 3-5 years hardware warranty. But nope they want you to take the risk even if you pay for it in full at purchase or want you to get on an insurance plan to pay for it on top of the device payment each month which is ridiculous!!! And then if you have the insurance plan they you pay for it monthly to extend the device warranty you have to pay even more money when you bring it or ship it in to have it fixed. Huh? Not to mention the money that is spent on the case, apple pen, and screen protector that I bought for this device. This should be illegal!!! At this point I only care to pay outright for a laptop or a 2 in 1 and never that will last me much longer then these tablets that are worth the same price but have half the power and longevity. But he is right because my ipad and iphone is paid off my unlimited data and minutes phone bill is only $45.00 with sprint.

[@illuminativon6542]

im not reading all that

[@tretolanolan24]

Love the Bible verse!

[@andreadittmore6844]

I don't buy Apple products. Proprietary. But you are 100% right about payment plans being connected to the device being totally ridiculous.

[@grim731]

What if u do a lease with the intention to pay off the phone and keep it rather than swap it for another one and still having more payments? Even though ure capable of just paying it off within a couple months? Or just buy it all at once to begin with?

[@techno_eclipse]

I would just lean towards no payments on anything, the reason being is that it allows you, in the future, to think that you can afford payments and you never miss one. However I would argue that the more comfortable with payments you are, the worse off you are. Payments are a convenient way to afford and pay for something that you could never afford. So save up, and buy cheaper, there are so many wonderful budget phones out there!

[@Comeswoopfam]

Also in general it’s not good to pay top dollar for electronics. They depreciate to crap.

[@Antsonhillz]

My mans preaching the gospel of Dave Ramsey..

[@Arroyoruiz]

I disagree with you with not getting an iPhone in payments. Especially when its no interest 0%. I cant imagine paying the full $1400 cash upfront. I prefer to to go through the 0% interest even if I had the money upfront. iPhones depreciate much slower than other phones. At almost at the end of the 2 year plan I resell my old iPhone and Always I owe less then what its currently worth. I always got for the greatest and best iPhone bucease that is all I need. I don’t need a computer tablet or anything else it replaces everything. Its my main and only device. So I justify splurging on it.

[@devineolubakin3091]

I bought iphone 13 549 pounds im glad i bought it cash 549 pounds , paying monthly for it is long and it will give u a headache unti u pay it off i wouldnt wanna use my hard earned money paying monthly for the phone , instead i can invest it into the gym and living a healthy lifestyle,

[@devineolubakin3091]

Yes i got the iphone 13 bought in cash i couldnt be bothered paying for it finance as its just 549 pounds,

[@evacody1249]

Don't buy the top end model. I bought an s22 128gig for about 600 dollars. People like you really need to stop going after the most expensive phone. If you do, then look at the update schedule for the software. If Samsung and Google hold true to their words like Apple, then hold the phone for more than a year. It's not like there is much new with the phones to being with.