Will Purchasing The iPhone 13 Hurt Your Finances?

Will Purchasing The iPhone 13 Hurt Your Finances?

The new iPhone 13 is launching in the UK extremely soon with improved features all around. On the 24th of September, the phone will release alongside the extra models including the iPhone 13 Pro, Pro Max and Mini. According to Apple, the phone has the most advanced dual-camera system, durability, a lightning-fast chip and a huge leap in battery life. But, that does not necessarily mean that you need to purchase the device. Despite this being said, there are probably millions of brits out there who would happily fall into debt to get their hands on a new phone. However, with a little research, you’ll quickly learn that hurting your finances for the new iPhone isn’t something even worth considering.

How Much Would It Cost You?

There are four different models, these include iPhone 13, iPhone 13 Pro, iPhone 13 Pro Max and even an iPhone 13 Mini. They all range in price from £679 all the way to £1,549. As expected, the more basic models are lower in price and then slowly add up. However, don’t forget this is just for the device itself, excluding any contracts or pay as you go costs.

Making that purchase and becoming an owner of the newest phone is very tempting. But, as you can see, the devices will definitely hurt your finances. After looking at the prices and moving forward, we advise you to take an in-depth look at your money management. This is to ensure you have a clear understanding of how much you could potentially afford without reaching any kind of debt. This will also help finalise your decision of whether it’s worth it, and whether or not you can afford it.

What Impact Could The iPhone 13 Have?

Having a whopping £1,549 leave your bank account would cause anybody to pause for a moment. In fact, the large sum of money could potentially impact more than just your financial health. Here are some of the impacts that could occur:

Chance of Debt

Purchasing something which you cannot afford can only end up in one outcome, debt. When you are spending money you need to make sure your priorities are straight and that you’re making smart financial choices. This way, you are able to keep yourself out of the debt cycle and stay clear of any stressful payments. Having a healthy relationship with your money is something that a lot of people struggle with, therefore, there is plenty of information online to guide you onto the right path.

Nonetheless, overspending and impulsively purchasing items like new phones repeatedly can end very badly. In fact, if you cannot afford the iPhone 13 yet still go through with the transaction you will not only be charged with interest rates on your overdraft but you will also be impacting your credit score. We can assure you, impacting your financial health and status is not worth the newest phone.

Lack of Finances

Linking to the impact above, having a lack of finances is a very stressful situation. Unfortunately, we never know what is around the corner. If you overspend on something like a device, you will have less money for those things which are essential. Not being able to afford the payments you are hit with will mean you need to find a resolution elsewhere, for example, from family and friends, savings or even a short term loan. Short term loans should only be used in financial emergencies when you have no other option as they hold potential for further financial issues.

Financial Wellbeing

Yes, having the newest iPhone would be extremely exciting. However, this phase is only a temporary emotion, whereas struggling with your finances can impact your wellbeing for a much longer duration. Your wellbeing is definitely a priority over materialistic goods whether it be your financial, physical or mental. If you’re searching for ways to improve, click here.


Thankfully, there are answers, alternatives and resolutions in this situation whether you decide to purchase the iPhone 13 or not. In order to keep your finances intact, we suggest that you weigh up all of the other options available. This allows you to see which are suitable, here are a few ideas:

Keep Your Phone

Keeping your current phone is one of the easiest options you can choose which does not cost you any extra money. If your current phone works to the potential you need it to then do you really need to change it? Even if your current phone is slightly broken, you could try getting it fixed at a local shop or seeing if you are covered by the Apple warranty scheme in order to save more money.

Look For Others

If that option is completely impossible, it’s time to search around for something you know you can afford. In order to do this, we suggest that you do not purchase the first item that you see. Shopping around is essential for finding money-saving deals which will help you stay out of debt. Remember, we do not always need the newest item. In relation to this, searching for second-hand phones can also be a great option.


Lastly, if non of the above appeal to you and you cannot find anything helpful, you could consider a contract. However, you must bear in mind that many phone companies will not accept your request for a contract if your credit score is low. Contracts can vary between 12-24 months depending on the company and the phone itself, so again, searching for the best price is the way forward.