6 Smart Investments to Make Instead of Buying the iPhone 6


With the launch of iPhone 6, the Apple fever is at its peak once again. Some of the more fanatical lot of Apple fans even camped outside the Apple store several hours before its official launch. Of course no one cares about the amount being spent on it or the fact that it is ridiculously expensive considering what all that iPhone 6 has to offer. The brand is the gold that glitters in the eyes of fans, and that is enough to make them gleefully shell out a fortune for it.

Even with the mobile plans for iPhone 6 announced in September, many will be scrambling to get their hands on the smartphone on contract at a fraction of the cost. However, for those who are not lucky enough and do not have the patience to wait, getting the phone without a contract can cost you an arm and a leg (an iPhone 6 is priced from $988 to $1,288.00).

Apple is one of those brands that might not dominate the market share, but surely dominates the mind share. This is because of its skewered perception as a status symbol in some sections of society. It’s no wonder the iPhone 6 is selling like hot cakes, even in those sections of the society that cannot really afford it; despite the fact that it is a flawed product after failing multiple phone tests. Also, it goes against Apple’s own past assertions of iPhone’s compact screen superiority by following in the footsteps of their super-sized competitors.

So whether or not we can afford it, why should we buy a phone that bends when kept in the pocket of our skinny jeans? It is not even as if its value appreciates with time. Why bite into an apple that’s already been bitten into? Indulgences like these are ‘lose-lose’ situations for financially challenged Singaporeans who cannot afford the liberty of a Donald Trump lifestyle. Financial security is the need of the hour and frivolous materialistic pursuits need to be abandoned in favor of the former.

So here are 6 fantastic ways to use your money and make yourself richer instead of blowing it up on an iPhone 6:

  1. Toss Your Credit Card Debt Into the Abyss

If you are not much of a brand person, a better way to use thousands of dollars (if you don’t pick up the phone with a contract) is to clear out credit card debts because it’s nothing but a ticking time bomb waiting to go off if not defused quickly. The more credit card debt you accumulate, the harder it gets to repay it. Thus, clearing your credit card debt should be your first priority.

  1. Keep Your Money Where There is a Return (No Matter How Low)

If you are safe when it comes to debts, but don’t really fancy putting your money in a risky investment, you could always put your money in a savings account or fixed deposit. Though both offer almost negligible return, you can still get some return, unlike a used iPhone. The value of the iPhone 6 will keep depreciating, while the value of your money in these accounts will continue to appreciate every month.

  1. Trust In Unit Trust Funds

Unit Trust Funds are similar to Fixed Deposits, except they are of a longer term, and can potentially yield better return over time. The longer you put the money in a Unit Trust Fund, the higher your chances of doubling your money, if not more. Compared to buying an iPhone 6, the chances of you seeing more money on Unit Trust is definitely higher.

  1. Celebrate with Real Estate

Real estate is the mother of all investments. It is the one investment that is almost guaranteed to keep appreciating in value. Now you must think that I am silly for comparing an iPhone 6 to real estate.

Well, foregoing an iPhone now can bring you returns in leaps and bounds if invested correctly. You can definitely start by investing smaller sums of money through Real Estate Investment Trusts (REITs).

  1. Don’t Be Shy of Bling

If none of the above suggestions went down well with you, you may also invest your money in a fun way in which you may invest your money. You could buy gold. Gold is an expensive metal, with the price on the rise for quite some time now. You could invest in it in any form, such as gold certificates, bulling bars or coins (delivered or stored), digital gold, gold stocks or futures.

However, if you think that owning the physical form of gold is risky, do not worry. You can now opt to invest in gold without having the physical gold to avoid the hassle and risk of storing it. This is a pretty simple investment, where to gain a return; you have to sell the gold at a higher price than you bought it from. However, when it comes to gold investment, timing is everything. Do not invest in it with your emergency plan, as to liquidate it may take time, or you may even incur loss.

  1. Lock In Some Stock

A popular notion about stocks is that it is like gambling. It might be true as there is a huge risk involved in buying stocks, but consider this: there is a high chance that the price of the stocks you bought might rise whereas the chances an iPhone 6 rising in value do not exist. Hence, buying stocks might pose a greater risk, but not without greater returns.

These are a few easy ways in which you could optimally use the money kept aside for an iPhone 6. Some may be suitable for you, while others are not. Investment is all about your time horizon, risk tolerance and also the capital you are willing to put in. The final decision is in your hands as you know best how to use your money. However, whichever way you choose to use your money, remember, by investing it there is a chance of return.

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