But I know some set of people who will always go for the new generation of phones. It is like a yearly ritual that they must buy the latest model of their phone. I have seen some go as far as buying these phones on credit because they don't have enough funds to pay. The most troubling part of it is that they are not using these phones for business or any productive activities.
It will not be a bad economic decision to reconsider and adjust our craving for these new products especially if they will not be beneficial financially.
Reference This is very popular amongst young ones that are trying to meet up with what's trending around thier environment and that thinks that once you've gotten the latest brand of phone or you're using the most expensive item, you've attained a certain level of prominence in the society.
Apart from those that needs to make those upgrade based on the feature the new brand comes with and how it will aid in there productivity, It's immature to want to get the latest iPhone just because the company just released a new product into the market.
If your phone is just primarily for making of calls and sourfing through the net, there's no point trying to get the latest iPhone or any brandy phone. For the regular guy, what you really need is a phone with fast browsing spead, good camera and a moderate storage space that's enough to take most of the files you would want to keep on your device. As long as your phone can do any of those things, you don't have to change into a new brand for just the sake of it. People's preference and thought towards this matter might differ but for me, it's not economically wise and anyone that's concerned about how he manages his finances wouldn't allow himself get to the point of wanting to get any latest thing that comes to the market.