How to Save for Your iPhone

Owning an iPhone is a luxury today. Who doesn't want to gift themselves an iPhone and enjoy the classic phone of our generation? However, purchasing an iPhone can surely take a toll on your budget and may leave you financially disturbed for months. That is why we suggest all our followers to plan properly before trying their hands on an iPhone.

Also, when you have finally decided to buy it, why settle for an old version? No, you don't have to do that! With proper budgeting, you can buy the latest piece. If you are serious about buying an iPhone in 2022, continue reading this blog and find the best tips to save for your iPhone.

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Top Tips To Save For Your iPhone

If you want to get Apple's latest and greatest but aren't quite sure how to fund the purchase, we've got a few ideas for you. Let's dive right into it:

1. Set a Savings Target: When you're saving toward an iPhone, it helps set a concrete goal. If you plan to pay cash, your goal should be the sales price, including taxes and fees. If you plan to finance, you'll want to save for a down payment. So, set a target and start with below tips.

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2. Start a dedicated gadget account. To avoid the temptation of spending your iPhone savings for other purposes, it helps to create a separate savings account. Some good options would be a savings account at your bank or a money-market mutual fund. You won't risk losing money with either of those, and you might even earn a little interest.

3. Make your deductions automatic: Arrange with your bank, mutual fund, or employer to regularly withdraw a certain amount from your paycheck to deposit into your iPhone account. This way, you won't have to think about it or get a chance to spend the money on something else.

Also read: Take Part in Wizely's Spend Challenge & Earn Rewards

4. Contribute any extra cash. If you receive a bonus at work, a government stimulus check, a tax refund, or even some money for your birthday, add it to your gadget account straight away.

5. Start a SIP: One of the easiest and safest ways of investment is a Systematic Investment Plan (SIP). In a SIP, an investor has to deposit a small sum every month or every quarter, and the amount of investment can be as low as Rs 500. If you choose a mutual fund scheme and invest in SIP, they will allocate your money in debt or equity based on the plan you have opted for.

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6. Give up coffee for a year: Bad news for coffee fiends; the cost of your little cup of black magic adds up quickly over the course of a year. If you can't live without store-bought coffee, you have to stop anyhow. If you're buying a coffee Monday through Friday, you may end up wasting a lot of money that you can use to save for your iPhone. Make your coffee or just drop it for some time. There are probably some health benefits in it for you too.

7. Get a part-time job: If you've got a talent and happen to utilize it through part-time or freelancing work, you should always sign-up for something suitable. You'll need to make sure you're doing a less stressful job as you have to balance it with your full-time gig. You can try driving Uber in your free time if you are a licensed driver. All you need is an extra source of income to save for your iPhone.

Also read: Best Side Hustles You Can Start Earning With Now

8. Sell your possessions: This might sound like a no-brainer, but you might be astonished to find out how much your old tech or furniture can go for. You can sell your old unused phone and add it to your savings. Otherwise, there are many old things that might not be useful for you. So, sell and save!

9. Shop around and look for offers: Diwali, Holi, or even Black Friday; Thanksgiving can save a lot of your money. These are some of the most popular times to shop around and pick up a deal on a new iPhone. However, throughout the year, it's worth looking out for discounts.

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We hope you loved these tips and will surely buy iPhone 14 right after its launch in September 2022. For more such tips and tricks posts, follow Wizely on all social media handles and check out our website for more!

Sakshi Mehrotra

Sakshi Mehrotra