The Writer’s Coin

The iPhone is the quintessential “want” — one of those products that no one really “needs” but still lusts over. Trust me, I understand about the lusting after. While some people might think that buying “wants” is irresponsible, I’m not one of them. Buying stuff you don’t need isn’t necessarily a bad thing financially — there are responsible ways of saving and buying things that might not be prudent or necessary, but that you still want. After all, we’re human and what is money for but to live our lives.

The iPhone, however, is testing my limits.

Strike 1: It’s a tech gadget, which I’m a sucker for.
Strike 2: It’s too cool for school, which we’re all suckers for.
Strike 3: I want it really bad.

Today I was reading the umpteenth article I’ve read about the damn thing when I realized the main reason that’s keeping me from buying this thing right now is the money.

That shouldn’t be a surprise, but what I’m talking about isn’t the $199 price tag — I could save up for that in a jiffy if I really wanted it (that’s how the Wii went down), no problem. I wouldn’t be spur-of-the-moment splurging on something I can’t afford, and it wouldn’t necessarily be getting in the way of my financial goals.

I’m talking about the monthly bill that I would have to pay for the rest of my life. Because, and this is a key point, I’m sure that once I own a phone/MP3 player/Internet Browser device like this, I won’t be able to go back. I’ve already experienced it with the new HDTV and DVR. Once you get stuff like this, there ain’t no going back.

Right now I pay $39/month to talk and text as much as I can stand (which isn’t much), and if I were to buy the iPhone 3G with its cheapest plan (which would be plenty for me), I’d be paying around $86/month. Month after month after month after month…you get the point.

When you do the math on things like this because you’re trying to talk yourself out of a purchase (I’m still cheap and want to save for a home — let’s not forget), it’s easy to fudge the numbers and say, “well, it’s not THAT bad” then go ahead and buy it. But when you’re talking about an “infinite” amount like this, it’s nearly impossible. Instead of paying $468/year to talk on the phone (which I don’t like doing anyway), I would be paying $1,032/year to talk on the phone, surf the web anywhere at any time (which I already do too much of), and listen to music (which I actually have been meaning to do more of).

That’s a lot of money: $564/year that I could be saving/investing/putting to use somewhere else.

So as long as AT&T doesn’t cut this bill down a little more, I think I’m safe from the temptations of the iPhone. AT&T, you can give me a call when there’s a plan out there that gives me minutes, text messages, and Internet surfing for $39/month — then we’ll talk.

Tags: Apple, AT&T, frugality, iphone, iPhone 3G, wants vs needs