Here Are 5 Things You Could Spend On Instead Of An iPhone 8

Here Are 5 Things You Could Spend On Instead Of An iPhone 8

With the advent of new and improved smartphones every year, the perceived life span or period of viability of the older phones become very short. For the case of Apple, as they release a new set of iPhones every year, their older models get pushed further towards obsoletion.

Despite the hefty price tag, many people still feel the need to do upgrade their iPhone every time a new model comes out.

iPhone models do not come cheap, especially if you want first dibs when it first launches. Here’s how much it cost in the Philippines:

iPhone 8 Plus
iPhone 8
64GB
₱48,500
₱44,500
256GB
₱55,500
₱48,500

If you’re pondering on whether to upgrade to the iPhone 8 or iPhone X this year, hold onto your wallets! There are far better deals that are worthy of your hard-earned money. They may not give you the bragging rights that a new iPhone gives yout, but they’ll definitely upgrade your lifestyle, secure your future, fill your soul, or ease up your finances!

1) Invest in stocks

Contrary to popular belief,  stocks trading is not only for the affluent. The Philippine Stocks Exchange (PSE) is an opportunity that’s open to everyone, even to non-Filipinos. For starters, it doesn’t require a huge chunk of cash to get started. However, trading with a big capital can also promise a bigger return!

If you’re considering of buying the latest iPhone 8, which cost around ₱50,000, here’s how much you could potentially get in returns.

Date
Price per unit
12/18/2016
₱85.90
10/05/2017
₱101.90

Taking the historical data of BPI’s price in the PSE for the past year, it grew about 18% in less than a year. If you invest 50,000 in the stocks last year, you’d have pocketed  ₱9,305.80 if you sold you shares earlier this month.

Considering that the PSEi has been on the rise recently, and the economy’s growth is at an all time high, investing in stocks seem to be a more promising idea than buying a brand new smartphone.

2) Saving for your emergency fund

We could not emphasize the importance of this further. An emergency fund will save you when your situation calls for an immediate necessity of cash such as a health emergency, unemployment, or a financial crisis. This fund should be at least thrice the amount of your monthly salary.

For the average Filipino, the price of the iPhone 8 is equivalent to twice or three time their salary. After all, cost of living in the Philippine isn’t that high, and 50,000 can save you from a various financial obligations for a few months.

While this amount isn’t really ideal for an emergency fund, it is however good enough to help you kick start your savings for it.

3) Starting a small business

This is one of the most conventional ways to grow your money. For an initial capital of 50,000, you can set up a business that you can profit from for a long time. For some, it becomes their primary source of income as it earns more than their full time jobs!

Take your pick: Online selling through Lazada, franchise a food cart business, outsource services online, or the more traditional sari-sari store. With diligence and dedication, you can navigate your way to a successful entrepreneurial venture!

There is an abundance of income opportunities in the Philippines right now, all you need is the initiative, diligence, and of course, enough funds to get started.

If you have the items above ticked off your list, you could be pocketing a steady stream of income through your business venture which could have a longer lasting effect on your finances than an iPhone 8.

4) Southeast Asian Trip

Travelling indeed comes with a price, but the life changing insights and experiences that you get along the way are more than worth it. If you feel like you’re stuck in your life’s mundane cycle, or you’re simply yearning for something different and exhilarating, getting out of your comfort zone and travelling to see the world will be your life’s most memorable experience.

With 50,000, you can definitely go far! It can stretch your travel goals abroad, not just in the Philippines but anywhere in the Southeast Asia (most of it, at least).

Here’s a quick breakdown for the overall travel expenses for a Southeast Asian tour.

Travel tax₱1,500
Terminal fee₱750
Local
Manila to Cebu
One-way ticket₱2,000
Accommodation 3 nights₱3,000
Food₱2,000
Transportation₱500
Total₱7,500
International
Cebu to Kuala Lumpur
One-way ticket₱2,500
Accommodation 3 nights₱3,000
Food₱2,000
Transportation₱500
Total₱8,000
Kuala Lumpur to Hanoi
One-way ticket₱2,500
Accommodation 3 nights₱2,000
Food₱2,000
Transportation₱1,000
Total₱7,500
Hanoi to Bangkok
Round Trip ticket₱1,500
Accommodation 3 nights₱2,000
Food₱1,000
Transportation₱1,000
Total₱5,500
Bangkok to Singapore
One-way ticket₱3,000
Accommodation₱5,000
Food₱2,000
Transportation₱1,000
Total₱11,000
Singapore to Manila
One-way ticket₱3,000
Grand total₱44,750

With the 50,000 saved from not buying an iPhone 8, you can tour around Southeast Asia in comfort!

5) Laptop or computer

Instead of buying a cellphone that is barely an upgrade (if you are currently using any of the iPhone 7 variants) and cost around 50,000, why not buy a desktop or laptop which can also serve as your income generating instrument? A laptop that cost around 25,000 is decent enough to handle heavy multimedia and office tasks. Thanks to the Internet, there are many opportunities for freelancers. Depending on your expertise, you can even start a business venture online, or start a blog and become a social influencer one day!

On the other hand, the other 25,000 can cover your operational expenses like electricity and internet bills for the months to come while you’re gradually building your online empire!

The above list of alternative ideas to spend your ₱50,000 may not guarantee a return for you, but at least there is still a chance for you to get something in return — be it return on investment or valuable memories and experiences.

However, if you use your cellphone to generate an income (perhaps, you are a social influencer who earns through Instagram) and you are in need of a new cellphone, then it would make sense to invest in an iPhone 8. If you are thinking of getting a new phone just to be the first to have an iPhone 8, then the above five ideas would make your ₱50,000 well your worth.

 

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