The Dangers of Buying Smartphones on EMI: A Cautionary Tale
For many youngsters, buying a smartphone is a rite of passage, and they often fall prey to the temptation of paying for it on an extended payment plan (EMI). While it may seem like a convenient way to acquire a new phone, it's essential to consider the long-term consequences of doing so.
The Value of Smartphones Over Time
One crucial aspect to consider is that smartphones have become increasingly commoditized over the years. The general mid-range smartphones have improved significantly in terms of performance, cameras, and overall user experience, making them almost indistinguishable from their flagship counterparts. As a result, buying a high-end smartphone solely for its brand image or perceived status may not be worth it. If you're willing to pay the full amount upfront, that's one thing, but if you're forced to buy on EMI, it can lead to a vicious cycle of debt.
The Replicating Nature of Smartphones
Another issue with buying smartphones on EMI is that they depreciate rapidly. In just eight or twelve months, a new smartphone may lose up to 50% of its value. This means that instead of investing in an asset that will last for years to come, you're essentially burning through money on a device that's bound to become outdated soon. Furthermore, the experience of using a smartphone is often more about the app ecosystem and software rather than the hardware itself. If you can afford it, buying a high-end smartphone with the latest features and performance might not be as beneficial as one might think.
Mid-Range Smartphones: A More Prudent Approach
So, what's a better alternative? Mid-range smartphones have become incredibly popular in recent years, and for good reason. They offer excellent value for money, with many devices available in the ₹15,000 to ₹20,000 range that can deliver remarkable performance and camera capabilities. By opting for a mid-range smartphone, you'll not only save money but also avoid the temptation of buying on EMI. The excess money that comes from choosing a more affordable option can then be invested elsewhere, such as in other areas of life or even as savings.
The Importance of Frugality
As someone who's worked extensively in the tech industry, I've learned to be frugal with my spending habits. For me, buying a new smartphone is not about showing off or keeping up with the latest trends; it's about acquiring an asset that will serve me well for an extended period. If I had to choose between buying a high-end smartphone on EMI and saving money elsewhere, I'd always opt for the latter. By prioritizing frugality, I've been able to accumulate wealth over time and make more informed financial decisions.
The Importance of Realistic Expectations
Finally, it's essential to recognize that smartphones are just one aspect of our lives. While having a high-end device might provide some benefits, it's not worth sacrificing your financial stability or well-being. If you're unsure about whether buying on EMI is right for you, ask yourself if you can afford the monthly payments without straining your finances. It's also crucial to set realistic expectations – just because you see others flaunting their expensive smartphones doesn't mean you have to keep up with them.
A Call to Action
To all the youngsters watching this video, I urge you to think carefully about buying smartphones on EMI. While it might seem like a convenient option at first, it can lead to financial pitfalls down the line. Instead, consider opting for mid-range smartphones or investing in other areas of life that will bring more long-term benefits. By being mindful of our spending habits and prioritizing frugality, we can make more informed decisions about how we allocate our resources.
The Future of Smartphones
As technology continues to evolve, one thing is certain – smartphones will continue to become increasingly sophisticated. However, with that comes the risk of over-investment in devices that may quickly become outdated. By adopting a more cautious approach to buying smartphones and prioritizing frugality, we can avoid getting caught up in the hype and make wiser financial decisions.
Conclusion
Buying smartphones on EMI might seem like a convenient way to acquire a new device, but it's essential to consider the long-term consequences of doing so. By opting for mid-range smartphones or investing in other areas of life, we can save money and avoid falling into the trap of over-investing in depreciating assets. As someone who's worked extensively in the tech industry, I've learned to be frugal with my spending habits and prioritize financial stability above all else.
"WEBVTTKind: captionsLanguage: enhi there this is Ranjit an and this video let me talk about how much you should invest in a smartphone and this is gonna be a very very kind of video coming from a tech reviewer and I'll tell you some of the pitfalls that I see many youngsters doing when they are buying the smartphones and I don't want to get too technical but I'll give you a no rule and I mean stay tuned till the end of the video and I'll also share my personal thoughts if I wore and not a tech reviewer how much I would have invested in smartphones so let's talk about it and if you know a little bit of Finance smartphones when you buy these are actually called depreciation editing assets that means oh time they will lose money and you know that if you're buying an Android phone let's say you buy the latest 91 the best just after a year if you try to go and sell it that the value that you would get is actually really low so again I would say amount of money let's say if your smartphone is about 50,000 or so after it here if you try to go and sell it in the after market these days with an Android phone hardly you'll get about fifteen twenty thousand if you are lucky because what happens is that many of these vendors after sometimes six months eight months we have that Amazon flip card sales they reduce the price drastically and due to that the second-hand market value just goes crazy so you lose a lot of money so again think of these smart phones as a tool which will depreciate over time and again it depends how much of a duration that you lose your smartphone but typically I would say for most users they might use it if you are their aggressive user about a year but most users will easily be able to use their smartphones for about one I have - about two years that's the sweet spot I would say and iPhones if you are just careful I would say they do H wear easily about two and a half to three years they can easily go but again they depreciate so the typical life we are looking at is about one and a half to two years and I would say now in 2019 the mid-range smartphones have become so good that around the price point of 15,000 you are getting great phones it's not like you have to spend 50 60 70 80 thousand to get a good phone now in fact in terms of battery life the best battery life we get is with mid-range Android phones and also the cameras have now become very good for example just about two weeks ago I had posted a camera comparison between the flagships like the iPhone the Samsung flagship and there was one more and mid-range phones from what do you say real me and Xiaomi and there are real me and the Xiaomi is that were four are on fifteen sixteen thousand actually did very well so it's not that now the cameras on these mid-range smartphones is also sort of junk so I would say as a numb if you buy in a smartphone just for your basic need you need the smartphone for taking calls doing your daily work some photographs and stuff you really need to spend more than around 15,000 plus or minus five six percent because the prices changed so you are giving actually a really good phone for around fifteen thousand now so above that if you are actually spending for example now we have a lot of phones Android flagships costing 50 60 70 80 thousands I phones they cost a lot more overlap you are just paying for the brand and this is very particular in India I've I'd say many of the people buy flashy iPhones the top-end just for the brand image and I feel that is really really sad because I see many youngsters or people who have just taken jobs buying smartphones almost three times the what do you say price man of their salary and if you do that it is really really stupid and I get it you are falling into this trap because these days most of the vendors these e-commerce companies actually give you options of buying these expensive smartphones and an EMI and you get easy instant approval and but I would say don't ever buy a smartphone on EMI look at the full price if you're not comfortable paying the full price of the smartphone then that smartphone is simply not for you because it's a depreciating I said let's say you take it on an EMI for about a year or eight months what is the value of the damn phone after eight or twelve months almost nothing so you just burning up money just for that brand image or whatever you really don't need a smartphone more than 15,000 for your basically it's not like if you buy a what do you say regular mid-range phone or a fancy flagship phone the other party a boss would sound sweet or your girlfriend will sound a lot sweeter it's going to be the same the experience almost 90% of the experience daily texting emailing replying to people talking to everything is almost the same because the general mid-range smartphones have become so good yes I agree in certain areas the flashes are still better but are they four five seven times better than the mid-range that is something you have to answer and I would say don't buy it on EMI if the price whatever that price might be 40,000 50,000 70,000 a lakh if you are ok paying that full amount then you can afford it if you're not then you can't afford that smart phone don't bite on EMI and get into that stupid trap I see many people falling into that trap so don't do that buy it on the full price that way that means you can actually afford it and again instead of buying very expensive smartphones for youngsters this advice is go with the mid-range smartphone and that excess money that you have maybe let's say you're buying a mid-range phone for 15 or 17 thousand and that exists money that is left over maybe you're going for an iPhone that 16 70,000 pay that up for your bike loan or a car loan or any other thing instead of just putting that money in a depreciating asset like an smartphone the smartphone has to be one of the most depreciating asset that you can ever buy and you have to constantly keep buying it again and again for example via give an example of a bike or a car for example if your bike am buying a bike at least in the last four five six years and it is a useful thing for you to move from A to B and that way I would say it's better but smartphone if you are not comfortable to the full price don't buy it on an EMI and now personally talking about myself yes as I am a tech review and I buy a lot of phones at purchase this this crazy fool for 1 lakh 65 paid-in-full even the iPhone but let's say if I must not take review why what would I have done I would have I can buy any phone I want because I have been working now for about 25 years I have been frugal with my money I know what to spend what not to spend on stupid things I don't like to show off to people just for the sake of it it's the most stupid thing that people can do youngsters do that and what sorry to say that but personally I would say if I have to buy a new smartphone right now and as if I was not a tech review or I won't have spent more than thirty thousand rupees I don't that thirty three thousand price fine I won't be willing to spend because it simply does not make sense even that phone whatever I buy for thirty thousand might last for about one and a half to two years and now at the thirty thousand price point at least in India you can get smart phones with the best Qualcomm processor that's the stamp rack in 855 or 855 plus it has actually pretty good cameras decent cameras good overall performance and it really lasts for about two years so I don't see a point of buying at 70,000 80,000 or a 1 lakh phone just to show off because I know it's a depreciating asset instead of that I would put that money in something rather more useful so I hope this video makes sense and I know this is slightly off topic but I want to get this point across don't buy put a lot of money on smartphones if you can't afford it because it is definitely a depreciating SN and if you are an early life don't go about that wasting your money to just show up stuff you would regret in the future so I'm okay if you are running well and you can afford that smartphone for the full price 75,000 yeah go ahead and buy it but don't buy it on EMI anyways guys got a set for this video again I know this is slightly off topic what do you guys think about the same should I cover some of the off-topic stuff that I always get into mine I see people doing it should I cover those kind of topics on this channel do let me know in the comment section below that's it for now thanks for watching this is Ranchi that i hope to see you in my next video take care guyshi there this is Ranjit an and this video let me talk about how much you should invest in a smartphone and this is gonna be a very very kind of video coming from a tech reviewer and I'll tell you some of the pitfalls that I see many youngsters doing when they are buying the smartphones and I don't want to get too technical but I'll give you a no rule and I mean stay tuned till the end of the video and I'll also share my personal thoughts if I wore and not a tech reviewer how much I would have invested in smartphones so let's talk about it and if you know a little bit of Finance smartphones when you buy these are actually called depreciation editing assets that means oh time they will lose money and you know that if you're buying an Android phone let's say you buy the latest 91 the best just after a year if you try to go and sell it that the value that you would get is actually really low so again I would say amount of money let's say if your smartphone is about 50,000 or so after it here if you try to go and sell it in the after market these days with an Android phone hardly you'll get about fifteen twenty thousand if you are lucky because what happens is that many of these vendors after sometimes six months eight months we have that Amazon flip card sales they reduce the price drastically and due to that the second-hand market value just goes crazy so you lose a lot of money so again think of these smart phones as a tool which will depreciate over time and again it depends how much of a duration that you lose your smartphone but typically I would say for most users they might use it if you are their aggressive user about a year but most users will easily be able to use their smartphones for about one I have - about two years that's the sweet spot I would say and iPhones if you are just careful I would say they do H wear easily about two and a half to three years they can easily go but again they depreciate so the typical life we are looking at is about one and a half to two years and I would say now in 2019 the mid-range smartphones have become so good that around the price point of 15,000 you are getting great phones it's not like you have to spend 50 60 70 80 thousand to get a good phone now in fact in terms of battery life the best battery life we get is with mid-range Android phones and also the cameras have now become very good for example just about two weeks ago I had posted a camera comparison between the flagships like the iPhone the Samsung flagship and there was one more and mid-range phones from what do you say real me and Xiaomi and there are real me and the Xiaomi is that were four are on fifteen sixteen thousand actually did very well so it's not that now the cameras on these mid-range smartphones is also sort of junk so I would say as a numb if you buy in a smartphone just for your basic need you need the smartphone for taking calls doing your daily work some photographs and stuff you really need to spend more than around 15,000 plus or minus five six percent because the prices changed so you are giving actually a really good phone for around fifteen thousand now so above that if you are actually spending for example now we have a lot of phones Android flagships costing 50 60 70 80 thousands I phones they cost a lot more overlap you are just paying for the brand and this is very particular in India I've I'd say many of the people buy flashy iPhones the top-end just for the brand image and I feel that is really really sad because I see many youngsters or people who have just taken jobs buying smartphones almost three times the what do you say price man of their salary and if you do that it is really really stupid and I get it you are falling into this trap because these days most of the vendors these e-commerce companies actually give you options of buying these expensive smartphones and an EMI and you get easy instant approval and but I would say don't ever buy a smartphone on EMI look at the full price if you're not comfortable paying the full price of the smartphone then that smartphone is simply not for you because it's a depreciating I said let's say you take it on an EMI for about a year or eight months what is the value of the damn phone after eight or twelve months almost nothing so you just burning up money just for that brand image or whatever you really don't need a smartphone more than 15,000 for your basically it's not like if you buy a what do you say regular mid-range phone or a fancy flagship phone the other party a boss would sound sweet or your girlfriend will sound a lot sweeter it's going to be the same the experience almost 90% of the experience daily texting emailing replying to people talking to everything is almost the same because the general mid-range smartphones have become so good yes I agree in certain areas the flashes are still better but are they four five seven times better than the mid-range that is something you have to answer and I would say don't buy it on EMI if the price whatever that price might be 40,000 50,000 70,000 a lakh if you are ok paying that full amount then you can afford it if you're not then you can't afford that smart phone don't bite on EMI and get into that stupid trap I see many people falling into that trap so don't do that buy it on the full price that way that means you can actually afford it and again instead of buying very expensive smartphones for youngsters this advice is go with the mid-range smartphone and that excess money that you have maybe let's say you're buying a mid-range phone for 15 or 17 thousand and that exists money that is left over maybe you're going for an iPhone that 16 70,000 pay that up for your bike loan or a car loan or any other thing instead of just putting that money in a depreciating asset like an smartphone the smartphone has to be one of the most depreciating asset that you can ever buy and you have to constantly keep buying it again and again for example via give an example of a bike or a car for example if your bike am buying a bike at least in the last four five six years and it is a useful thing for you to move from A to B and that way I would say it's better but smartphone if you are not comfortable to the full price don't buy it on an EMI and now personally talking about myself yes as I am a tech review and I buy a lot of phones at purchase this this crazy fool for 1 lakh 65 paid-in-full even the iPhone but let's say if I must not take review why what would I have done I would have I can buy any phone I want because I have been working now for about 25 years I have been frugal with my money I know what to spend what not to spend on stupid things I don't like to show off to people just for the sake of it it's the most stupid thing that people can do youngsters do that and what sorry to say that but personally I would say if I have to buy a new smartphone right now and as if I was not a tech review or I won't have spent more than thirty thousand rupees I don't that thirty three thousand price fine I won't be willing to spend because it simply does not make sense even that phone whatever I buy for thirty thousand might last for about one and a half to two years and now at the thirty thousand price point at least in India you can get smart phones with the best Qualcomm processor that's the stamp rack in 855 or 855 plus it has actually pretty good cameras decent cameras good overall performance and it really lasts for about two years so I don't see a point of buying at 70,000 80,000 or a 1 lakh phone just to show off because I know it's a depreciating asset instead of that I would put that money in something rather more useful so I hope this video makes sense and I know this is slightly off topic but I want to get this point across don't buy put a lot of money on smartphones if you can't afford it because it is definitely a depreciating SN and if you are an early life don't go about that wasting your money to just show up stuff you would regret in the future so I'm okay if you are running well and you can afford that smartphone for the full price 75,000 yeah go ahead and buy it but don't buy it on EMI anyways guys got a set for this video again I know this is slightly off topic what do you guys think about the same should I cover some of the off-topic stuff that I always get into mine I see people doing it should I cover those kind of topics on this channel do let me know in the comment section below that's it for now thanks for watching this is Ranchi that i hope to see you in my next video take care guys\n"
