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iPhone 7 Buyers Could Overspend as Much as $1,074, According to iPhone Savings Report

Sep 16, 2016 04:04 AM EDT

An interesting report shows how iPhone 7 buyers can actually overspend by as much as $1,074. iPhone 7's launch will be coming up and it would be another blockbuster hit for Apple, if all hte buzz about the new iPhone 7 translates into sales.

Despite the craze, users (and would-be users) should also need to evaluate if buying a new iPhone 7 is more practical than keeping their old phone and vice versa. With so many plans and coverage being offered by a mobile carriers, it is very easy for average users to get overwhelmed, and eventually, get lured in.

To help users from this tricky world of spending, let WalletHub help out by using their feature called Cell Phone Savings Calculator, where people can make wise and practical decisions such as buying an iPhone 7 or not.

According to this infographic by WalletHub about "How Much Will an iPhone 7 Cost You?", we are presented two plans: Individual Plans and Family Plans. Each plan's breakdown shows different payment schemes such as two-year contract, instalment plan (carrier) and instalment plan (Apple).

In this study, it was found that one can save more if he or she chooses a no-contract plan from RingPlus Mobile over the same types of plans from T-Mobile and Verizon; thus, saving up to $1,074.

Through the Cell Phone Savings Calculator, users can compare which plan is more advantageous for their lifestyle and pocket-friendly.

The Cell Phone Savings Calculator works by letting the users provide the upfront cost and monthly cost of the user's option plan. The calculator will then do all the dirty work of computing, and, voila! The user will be given the relevant data that he or she needs.

Aside from the Cell Phone Savings Calculator, WalletHub also offers a diverse range of reports and studies such as Best Savings Accounts, Credit Card Rewards Report, and others that will surely help users to evaluate and compare data that will help them make decisions.

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