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The cost of upgrading your iPhone every year

The iPhone resale market in Australia is thriving through marketplace sites such as Gumtree & eBay raising the question of whether you should sell your old handset and splurge on Apple’s latest version each year, or hold on to it for a few years until technology changes make it worthwhile to upgrade to the next model.

It’s smarter to buy your phone outright

Many of us lock ourselves into financing plans with the major telcos so we can get our hands on the latest phone for “free”, but there is a smarter way to go about it. Tying yourself to a financing plan means you lose the flexibility to decide how often you upgrade to a new phone and in reality, that latest phone isn’t really “free”. You’re paying the mobile service provider a lot more for that handset over the course of your contract; instead, you can pay less overall and recoup some of your cost by buying  the new phone outright and selling your old one online when you’re ready for an upgrade.

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