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Your iPhone is More Expensive Than You Think

Photo by Arnel Hasanovic on Unsplash

How much do you think it costs to own an iPhone? When you decide to buy a new phone, are you only thinking about the purchase price of the phone?

When the original iPhone came out in 2008, it was priced at $499. I remember laughing at that, thinking “who would be dumb enough to waste that much money on a phone?” Now here we are, 11 years later, and the average cost of a new smartphone in the US is $567, with most people upgrading their phone every 32 months. The newest iPhones always have models priced over $1000, too. 

On top of all of that, network providers have done away with two-year contracts, and everyone celebrated it. You know what two year contracts did really well? They made smartphones affordable- you got a huge discount on a new phone every two years. Now, you either pay full price up front or you pay a monthly fee to essentially lease your phone. 

Between the skyrocketing cost of the phones themselves and the monthly bill for cell phone service, you’ll spend $75,000 on your phone over the course of your life. And that’s just based on the average costs; if you’re buying the top model iPhones, it’ll be more than that.

That, folks, is a lot of money. There may not be much of a choice here; smart phones and data plans have become necessities in modern life. Still, it’s hard not to wonder what else we could use that $75k for.

Written by Mark Greene

Mark Greene is writer and life coach dedicated to helping men to perform at peak level. He shares dating advice, style tips and strategies for building wealth and success.