- Queues in India formed for iPhone 18 Pro and Pro Max launch on September 18
- Buyers often ignore post-purchase costs like insurance and accessories for premium phones
- Financial experts warn against using emergency funds to buy new expensive gadgets
When Phil Dunphy in Modern Family got sad about Claire not getting up in the morning to stand in line to purchase the latest iPad, everyone laughed. But on September 18, the iPhone 18 Pro and iPhone 18 Pro Max went on sale in India, and the queues outside Apple outlets were just as long.
"So your real cost of ownership is not just the cost of the phone. There are additional costs, including accessories, insurance and EMI processing fees, even on some zero-cost EMI plans. So the biggest mistake is assuming that the phone is the only thing you're paying for," he added.
According to the finance expert, the biggest mistake that people make while purchasing new gadgets is dipping into their emergency funds.
"Don't pull out money from your emergency fund or reserve money to buy these latest models. Keep them separate from your regular expenses. Those are for rainy days, and they come unannounced," he advised.
How Celebrities And Influencers Fuel Impulse Spending
Harshavardhan Pusala, Founder & CEO, Techurate Systems Pvt. Ltd., added, "Flagship launches are designed to create urgency. Even financially responsible people can start feeling that they are 'falling behind' if they don't have the latest device."
The fintech founder told NDTV that celebrity endorsements and influencer content can turn a product from something consumers want into something they feel they need.
"Traditional advertising tells you why a product is valuable. Influencer content adds social proof: you see someone you follow buying, unboxing and using the product. That creates familiarity and reduces the psychological barrier to purchase," he added.
The expert said that social media also creates a powerful feedback loop. Once a new smartphone launches, consumers can see hundreds of posts, reviews, comparisons and "first impressions" within hours. Repeated exposure can make the product feel ubiquitous and, therefore, necessary.
Celebrity endorsements and influencer content can turn a product from something consumers want into something they feel they need. Photo: Vicky Kaushal/ Instagram
How Expensive Gadgets Have Become A Status Symbol
Owning an iPhone has always been associated with status, but no-cost EMIs have allowed everyone to chase status and flaunt their wealth.
Neelam Mishra noted, "We've always used objects to say something about ourselves without actually saying it. That's not new. But phones are a bit different because they're never tucked away; they're in your hand in every meeting, every photo, and every dinner table."
The expert added that pride is harmless, but it becomes harmful when not owning the latest model fuels the feeling of lagging behind. Yes, buying a new phone can uplift a person's mood, but the excitement quickly fades away within a couple of weeks.
"Then your brain resets and starts comparing you to whatever's next. The buzz is genuine; it's just never designed to last as long as the price tag suggests it should," she added.
How To Navigate Impulse Spending Triggered By Social Media
A gadget is a depreciating asset, and spending lakhs on it yields near zero in five years, according to Shreesham Gupta. He suggested creating a goal and starting investing accordingly. When you reach that goal, spend that money. "It ensures that you are spending on your target without feeling guilty," he added.
The finance expert also suggested following a 10-day or 30-day waiting rule. You must delay the purchase for a definite period and revisit it later to see if you still want to buy it.
"If the urge persists and fits your allocation, proceed; most desires fade within a week," he advised.
On the other hand, Harshavardhan Pusala suggested another test: If you wouldn't be comfortable spending the full amount from your available savings, don't use EMI simply to make the purchase feel affordable.
"Look at the total cost, existing obligations, emergency fund requirements, and opportunity cost before taking on debt for discretionary technology," he advised.
Are Younger Consumers More Vulnerable To Tech-Related Social Pressure
According to Neelam Mishra, younger consumers are often more susceptible to the impulse to purchase a new phone while their previous one is working just fine.
"Peer approval just matters more at that stage. It's not a character flaw; it's part of development. Young professionals get hit from another angle too. There's pressure to look a certain way at work, but often without the salary to match it yet, so the gap feels sharper," the expert added.
She also said that while FOMO may not affect everyone equally, it is there and can trigger anxiety, leading a person to make an impulse purchase, which they may or may not regret later.
The base models of the iPhone 18 Pro and iPhone 18 Pro Max start at Rs 1,64,000 and Rs 1,79,000, respectively. The iPhone Duo's based model is priced at 2,99,900.
Needless to say, the cost of the upgrade is high, especially this year. So before you go ahead and upgrade your phone, ask yourself if you actually need it or if FOMO is driving the impulse to make the purchase.
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