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Can I Afford a New iPhone?

New iPhones range from around $799 to $1,599 depending on the model and storage tier, and flagship models like the iPhone 16 Pro Max start at $1,199. Carriers offer financing plans that spread the cost over 24–36 months, which can make the monthly hit feel small — but those payments stack on top of your existing phone plan, and many people underestimate the full cost over the life of the device.

iPhone pricing overview (2025)

Outright purchase vs. carrier financing

Buying outright means a larger one-time hit to your savings but no ongoing monthly commitment beyond the plan itself. Carrier financing (often 0%) lets you spread the cost, but the "0% APR" offer may require trading flexibility — e.g., staying on the same carrier for 24–36 months and losing credits if you switch.

Either way, the real question is the same: Does your budget have room for this, and does spending the money now compromise your financial cushion?

When upgrading makes sense — and when it doesn't

• Makes sense: Your current phone is 4+ years old, repair costs exceed upgrade cost, you have 3+ months of expenses saved, and the phone serves a direct professional need.
• Wait: Your emergency fund is below one month of expenses, you carry high-interest credit card debt, you just took on another monthly payment, or your job situation is uncertain.

Check your numbers

The calculator below is pre-filled with an iPhone Pro at $999. Adjust the price to your specific model and choose whether you're paying outright or financing. Enter your income and savings to see where you stand.

Related calculators

• Can I afford a $1,000 purchase?
• Can I afford a $2,000 purchase?
• How the affordability score works
• Disclaimer

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