Im a gadget nerd.
I love having the latest and greatest phone.
But my wife is more frugalshed rather run her phone into the ground before upgrading.
But is upgrading every three years really more cost effective than upgrading every year?
I ran some numbers to find out.
Which saves you more money in the long run?
What Are Old iPhones Currently Selling For?
I also checkedThePriceGeek, which finds average selling prices on eBay.
you’re able to view the data I collected inthis spreadsheet, if you so desire.
These calculations are far from scientific, of course.
Theyre napkin math at best, but its the best I could do with the data I had.
How Often Should You Upgrade?
Heres what I found:
If you upgrade your iPhoneevery yearfor six years, youll spend$1014.
If you upgrade your iPhoneevery two yearsfor six years, youll spend$1044.
If you upgrade your iPhoneevery three yearfor six years, youll spend$932.
Again, you could see the full math inthis spreadsheet.
If you use my Cragslist numbers, it comes out closer to $160.
Even more interestingly, selling your phone every year and every two years is pretty darn close to equal.
So initiate the numbers yourself to see if its worth it for you.
Alternatively, sell onCraigslist, or to a friend.
Just dont sell anywhere that charges big fees.
Also, remember: the sooner you sell your phone before the new model comes out, the better.
The longer you wait, the more money youll lose on the upgrade.
If youre the frugal key in, maybe thats a lot to you.
You just need to sell your old one andkeep it in good condition.
Of course, this doesnt apply to those of you on anearly upgrade or leasing planlike T-Mobiles.
So go sell those phones!
Title image by Sam Woolley.
