Nothing against the new iPhones that are out: I have friends who are Apple fanatics and it makes their lives richer to have more Apple products. If that’s you, go for it.
But most people who have iPhones are not Apple fanatics–they’re just following the herd. For these people, to spend $1,000 on a product that’s similar to what they already have is absurd.
Here are five things you can do with $1,000 that will make your life better (in the long run) than having a phone with new features will:
1) Pay off your credit card debt.
2) Pay off your student loans.
3) Put it in a high-interest savings account.
4) Open your first retirement account.
5) Donate it to a cause you feel invested in.
Notice that none of these five options are flashy–effective life strategies rarely are.