Post
Topic
Board Economics
Re: Cutting cost: Do we really need the latest smartphone?
by
coin-investor
on 28/09/2024, 17:50:01 UTC

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.

They made their phone their status symbol; in fact, I know some of my friends keep buying the latest phones, not knowing all of its features; they buy the latest cellphone just to brag that they are using the latest model, These people are insecure, and they depend their happiness and confidence on the latest models of phones to which they are so attached.

Quote
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.
These people, after buying the latest model, are thinking on how to acquire the next model They are working hard to pay their newly acquired phone and continue to work hard for the next model., its a vicious cycle because they are addicted and so attach to their phone which they treat as their status  symbol which is very wrong.