I am currently using an iPhone 13 Pro Max and have a strong passion for technology, just like many others. However, I spend over VND15 million (US$609) each month on installments for an apartment, which I am renting out to help pay for a new townhouse. Fortunately, I have finished paying off the Mazda CX-5 I bought earlier, which eases my financial burden.
My plan is to leave the townhouse to my youngest son and the house where my wife and I currently live to my second son.
While I appreciate technology, I am hesitant to spend money, so I still use my iPhone 13. I accept the jokes about being old-fashioned because my finances do not allow me to buy a new phone every year. When my wife asks if I plan to buy the new iPhone, I often pretend that I am no longer interested in tech products.
As I approach 40, I focus on saving for my children’s future. If I keep chasing trends and upgrading phones every year, how will I find the money for them? I believe that taking care of my children's future is more important than anything else.
Nowadays, I see many young people rushing to buy the latest iPhone or the newest model of the SH motorcycle without considering their future. Then, when they reach my age, they complain about having worked their whole lives but still not being able to afford a house in the city.
I am not afraid of being ridiculed for being outdated. I am content knowing that I have managed to buy houses and a car with my own earnings. Because of this, I have assets that many people cannot acquire in their lifetimes. If young people do not focus on saving early, especially with rising inflation and prices, they may never have enough money to buy a house or land.
According to e-commerce platform Picodi.com’s iPhone Index, it takes 53.1 days’ wages for the average Vietnamese person to buy a 128 GB iPhone 16 Pro, which costs VND28.99 million. Vietnam is among the markets where it takes the longest to buy the phone, after Turkey (72.9 days), the Philippines (68.8 days) and Brazil (68.6 days).
Is it really worth spending that much money for a smartphone like the iPhone?