Should Young People Really Be Buying iPhones?

he launch of the iPhone 16 has once again brought the debate to the forefront: Should young people be investing in such expensive devices?

The lines outside Apple stores and the frenzy around each new release are undeniable, but is the investment really worth it, especially for the young generation?

For many teens and young adults, owning an iPhone has become more than just a necessity—it’s a status symbol. It’s trendy, and in many circles, having an iPhone is a way to "fit in." But at what cost?

Is the Investment Worth It?

An iPhone comes with a hefty price tag, and while it offers a premium experience, most young users are not fully utilizing the device's advanced capabilities.

For many, an iPhone is primarily used for scrolling through Instagram, watching TikToks, or messaging friends—activities that any mid-range smartphone can handle just as well.

When the primary use of such an expensive phone is consumption rather than creation, it begs the question: Is it really worth the investment?

Buying on EMI: A Financial Trap?

The easy availability of EMI options has made it possible for young people, even those without substantial income, to own iPhones.

While this may seem like a convenient way to manage the cost, it often leads to long-term financial commitments.

Stretching payments out over months or years may feel manageable at first, but it’s important to recognize the risk of falling into a debt cycle for a device that will quickly become outdated.

It’s concerning that many young people are willing to take loans or commit to installment payments just to have the latest phone, driven largely by social pressures and FOMO (Fear of Missing Out).

‍Laksh Dua, co-founder of WeCredit, states: “The fear of missing out, or FOMO, is a significant psychological factor driving Gen Z’s purchasing decisions.

The fear of being left behind in terms of technology and social status motivates individuals to take loans for iPhones to align with the perceived lifestyle of their peers and influencers.”

The iPhone as a Status Symbol

In many schools and social circles, owning an iPhone is seen as a mark of belonging to the “cool” or “affluent” group. It’s become a kind of ticket out of the "poor" club, and Android users are often teased as "broke" or "outdated."

This pressure to keep up with peers is one of the main reasons why young people are willing to go into debt or spend large portions of their savings on a device.

While the allure of being part of the iPhone club is strong, it’s important to recognize that social status based on material items is fleeting. In just a year or two, the newest iPhone will be out, and the cycle will start all over again.

Chasing after the latest trend can leave young people caught in an endless loop of consumerism, preventing them from building real financial security or investing in more meaningful pursuits.

Are We Paying for the Brand?

The manufacturing cost of an iPhone is significantly lower than the price tag you see in stores. Much of what you pay for is branding, design, and marketing—not the actual technology.

This isn’t to say that iPhones aren’t high-quality devices, but it does highlight the gap between the actual product and the price consumers are willing to pay.

Apple has successfully turned the iPhone into a luxury item, and part of its appeal is the social status it confers.

But it’s worth questioning whether young people should be spending such large sums on a phone when there are plenty of more affordable options that offer similar functionality.

The Real Question: Does It Make Sense?

With young people increasingly glued to social media platforms like Instagram and TikTok, it’s essential to question whether buying an iPhone is about utility or simply staying in trend.

If the primary use of the phone is passive consumption—scrolling through endless feeds and watching videos—then it’s hard to justify the high cost of an iPhone.

Moreover, for young people who are still learning about financial responsibility, it’s important to consider whether buying an iPhone on EMI or taking out loans is a good long-term decision.

Debt incurred for a smartphone doesn’t offer any return on investment. Instead, it often becomes a liability that takes money out of your pocket for months or years to come.

Learning from Rich Dad Poor Dad

In Rich Dad Poor Dad, Robert Kiyosaki teaches that true wealth comes from acquiring assets—things that put money in your pocket—not liabilities.

An iPhone, especially when purchased on EMI, becomes a liability that drains your finances without offering much in return. It may bring temporary satisfaction, but in the long run, it’s unlikely to provide the same value as investing in something that helps build wealth or skills.

Young people should be encouraged to think critically about their purchases and prioritize spending that adds value to their lives in the long term.

Financial freedom is about making smart choices, and that starts with understanding the difference between wants and needs.

Think Beyond the Trend

In a world driven by social media and constant comparisons, it’s easy to fall into the trap of thinking you need the latest iPhone to fit in or stay relevant. But the reality is, owning an iPhone doesn’t define your worth or success.

What matters more is how you use your resources—your time, money, and energy—to create a life of meaning, purpose, and financial freedom.

Rather than following the crowd, young people should be empowered to make decisions that align with their long-term goals.

A phone is a tool, not a status symbol, and the focus should be on making smart financial choices that allow for growth, creativity, and independence.

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