Possibly losing my job, should I cancel Iphone pre order?

[scubasteve03]

Here is my situation... I found on today that my position may be getting "cut" at the hospital where I am employed due to economy. I was lucky enough to get through and I pre ordered the 4G on the 15th. I purchased the 3GS on launch day last year, but AT&T did not give me the subsidy this year because of a glitch in the system where my wife was put as the primary on our account without us knowing. I used my debit card to pay the $550 for the 32gb 4g. With the possibility of losing me job, the new iPhone doesn't seem worth it.
I spent 4 hours this morning on hold and being transferred to several people trying to cancel my pre order. I got tired of being on hold and "accidentally" getting disconnected 3 times this morning.
I need advice on whether to keep my pre order and maybe sell the 4g to make a profit or just to continue to try and cancel my pre order. Financially we would be ok for a while without a job, but either way I don't think I could justify keeping the new iPhone due to the uncertainty of my job. Wish me luck everyone and pray that I get to keep my job.
P.S. If anyone wants to hire a registered polysomnograh technologist, let me known.

 

[notjustjay]

Here's wishing you luck. I know the feeling, working in a tech environment myself.

Definitely your priorities are to clear any debts you may have (car loan, student loan, mortgage, credit card debt) and even if you have none, establish savings so you can function for a while with no job, if necessary. In that kind of "survival mode", an iPhone is definitely a luxury.

You could try to keep it and sell it but if you do find yourself in a position where every dollar counts, can you risk the added stress of waiting for a buyer to pay and the money to clear? Personally I would avoid the preorder frenzy, you can always buy one later when you know things are working out better for you. Sure there'll be a few weeks where the frenzy is at its peak and everyone is sold out, and you might kick yourself for giving up that spot in line -- but in the grand scheme, what's a couple of weeks without the latest and greatest phone?

Once you know your job is secure (or -- heaven forbid -- you lose that job and find another position elsewhere) then you can reward yourself.

I have even wondered if I should return or sell my iPad "just in case" -- $600 can buy a lot of food...

 

[Little Endian]

Here is my situation... I found on today that my position may be getting "cut" at the hospital where I am employed due to economy. I was lucky enough to get through and I pre ordered the 4G on the 15th. I purchased the 3GS on launch day last year, but AT&T did not give me the subsidy this year because of a glitch in the system where my wife was put as the primary on our account without us knowing. I used my debit card to pay the $550 for the 32gb 4g. With the possibility of losing me job, the new iPhone doesn't seem worth it.
I spent 4 hours this morning on hold and being transferred to several people trying to cancel my pre order. I got tired of being on hold and "accidentally" getting disconnected 3 times this morning.
I need advice on whether to keep my pre order and maybe sell the 4g to make a profit or just to continue to try and cancel my pre order. Financially we would be ok for a while without a job, but either way I don't think I could justify keeping the new iPhone due to the uncertainty of my job. Wish me luck everyone and pray that I get to keep my job.
P.S. If anyone wants to hire a registered polysomnograh technologist, let me known.

I hate to sound like a condescending elitist jerk but hey I am drunk right now. Mind you though an educated drunk who can handle his booze!! If $500 is a concern to your household finances then perhaps buying a piece of expendable consumer electronics is not the wisest decision? regardless of whether or not you may be loosing your job. The 6 month rule is a "Golden Rule" at least in my book. What is the 6 month rule? Well basically you should have at least 6 months of LIQUID net worth to last you for 6 months worth of ALL expenses you would incur regardless of whether you have income flow or not. I view 6 Months as the minimum guideline!! Most people depending on their situation should have at least a year or better yet a 2 year buffer. If you really want to be financially savvy and independent then a 5-10 year buffer would be recommended.

Note when I say "Liquid NET worth" this means a savings buffer of liquid assets. This should not include tapping into retirement funds, educational savings, home equity, or selling your home!!! I mean actual cash on hand!! without having to sell or sacrifice anything in your normal day to day life. Yes this means health insurance as well!! Even if you are unemployed.

Again sorry If I came on a little strong and patronizing and I apologize if you do take offense, but given the context of your question I do not believe that my response was out of line.

 

[Apple Ink]

We all wish you luck..
Hope you succeed in your endeavor!

 

[Consultant]

If you don't think you can pay, you might want to cancel when you are more sure. Good luck.

I hate to sound like a condescending elitist jerk but hey I am drunk right now. Mind you though an educated drunk who can handle his booze!! If $500 is a concern to your household finances then perhaps buying a piece of expendable consumer electronics is not the wisest decision? regardless of whether or not you may be loosing your job. The 6 month rule is a "Golden Rule" at least in my book. What is the 6 month rule? Well basically you should have at least 6 months of LIQUID net worth to last you for 6 months worth of ALL expenses you would incur regardless of whether you have income flow or not. I view 6 Months as the minimum guideline!! Most people depending on their situation should have at least a year or better yet a 2 year buffer. If you really want to be financially savvy and independent then a 5-10 year buffer would be recommended.

Note when I say "Liquid NET worth" this means a savings buffer of liquid assets. This should not include tapping into retirement funds, educational savings, home equity, or selling your home!!! I mean actual cash on hand!! without having to sell or sacrifice anything in your normal day to day life. Yes this means health insurance as well!! Even if you are unemployed.

Again sorry If I came on a little strong and patronizing and I apologize if you do take offense, but given the context of your question I do not believe that my response was out of line.

Good one. Mosspuppet, is that you??? =p

Yeah, it all depends though, this person works at the hospital which probably doesn't pay all that much. But yeah, even with part time / no pay for months last year, I can still pay my bills fine.

And 10% of paycheck goes to retirement savings.

 

[jdechko]

For many of the reasons mentioned, I think it would be wise to cancel the pre-order. One of the other unmentioned possibilities in trying to sell it after the fact is if, somehow, you were to get scammed on the sale, you'd be out the phone and the money.

 

[Foucault]

...or you could make money out of this. If you've ordered the iPhone4, and Apple is already backordered, and most outlets look it will sell out, why not just get it, and sell it on eBay. You know how many people will pay for a premium for unopened iPhone4. It's going to be the hottest item of the summer. Don't cancel your order.

 

[spice weasel]

I hate to sound like a condescending elitist jerk but hey I am drunk right now. Mind you though an educated drunk who can handle his booze!! If $500 is a concern to your household finances then perhaps buying a piece of expendable consumer electronics is not the wisest decision? regardless of whether or not you may be loosing your job. The 6 month rule is a "Golden Rule" at least in my book. What is the 6 month rule? Well basically you should have at least 6 months of LIQUID net worth to last you for 6 months worth of ALL expenses you would incur regardless of whether you have income flow or not. I view 6 Months as the minimum guideline!! Most people depending on their situation should have at least a year or better yet a 2 year buffer. If you really want to be financially savvy and independent then a 5-10 year buffer would be recommended.

Note when I say "Liquid NET worth" this means a savings buffer of liquid assets. This should not include tapping into retirement funds, educational savings, home equity, or selling your home!!! I mean actual cash on hand!! without having to sell or sacrifice anything in your normal day to day life. Yes this means health insurance as well!! Even if you are unemployed.

Again sorry If I came on a little strong and patronizing and I apologize if you do take offense, but given the context of your question I do not believe that my response was out of line.

I like how you say that you hate to sound like a jerk but then go right ahead with it anyway, while claiming to be drunk and acting as if that gives you the right.

If you read the OP's post carefully you'd know that he feels he would be okay financially for a while if he lost his job, but that having a new iPhone doesn't seem prudent given his circumstances. Seems like he's being smart and responsible with his money. And your line about not having to "sacrifice anything in your normal day to day life" is ridiculous. If you lose your income you can and should find all sorts of ways to cut day-to-day costs. Of course this begs the question of why we all shouldn't find ways to cut unnecessary things out of our lives, but that is another issue.

In any event, he wasn't asking for financial advice from a drunk. He was asking about his iPhone pre-order. So, to the OP: I would keep trying to cancel the order. Given the high demand for the phone, it is possible that you could sell it and at least break even or make a profit. However, if I were in your shoes I would rather not have to deal with that hassle and be comfortable in the knowledge that the charge is off of your credit card.

 

[Plutonius]

Here is my situation... I found on today that my position may be getting "cut" at the hospital where I am employed due to economy. I was lucky enough to get through and I pre ordered the 4G on the 15th. I purchased the 3GS on launch day last year, but AT&T did not give me the subsidy this year because of a glitch in the system where my wife was put as the primary on our account without us knowing. I used my debit card to pay the $550 for the 32gb 4g. With the possibility of losing me job, the new iPhone doesn't seem worth it.
I spent 4 hours this morning on hold and being transferred to several people trying to cancel my pre order. I got tired of being on hold and "accidentally" getting disconnected 3 times this morning.
I need advice on whether to keep my pre order and maybe sell the 4g to make a profit or just to continue to try and cancel my pre order. Financially we would be ok for a while without a job, but either way I don't think I could justify keeping the new iPhone due to the uncertainty of my job. Wish me luck everyone and pray that I get to keep my job.
P.S. If anyone wants to hire a registered polysomnograh technologist, let me known.

/Sarcasm "But the economy is getting better..." /End Sarcasm

Sorry to hear about the job and I would cancel the iPhone .

 

[scubasteve03]

Thank you for all insight so far everyone. This has really made me think now how much my gadget/ technology love has gotten out of hand. I am a 25 year old guy who banked right at under six figures last year, but yet I couldn't last 3-4 months without my job. I am going to continue to try to cancel my pre order. Right now if If I was out of work for 3 or more months, I would be completely over my head and could even lose my house.
I pray I am able to keep my job, but even if there is a miracle and I continue to work I am going to put my passion of tech to the side a little bit to get my priorities straightened out. If I am asking myself if I can afford a measly $500, then obviously I cannot. This is a huge wakeup call for me. I appreciate the brutal honesty despite your inebriation.
It is probably not worth the hassle trying to make a couple hundred bucks flipping the phone on eBay. With my luck right now, the winner of the auction is going to be another Nigerian prince "no disrespect to my Nigerian gadget lovers here." Hopefully someone will be able to get my iPhone who "needs" it more than I.
If I cannot get through to someone at At&t to cancel my pre order, then I am going to take it as a sign from up above and just sell my wife's Maltese to split the difference.

 

[ihaveNFC]

...or you could make money out of this. If you've ordered the iPhone4, and Apple is already backordered, and most outlets look it will sell out, why not just get it, and sell it on eBay. You know how many people will pay for a premium for unopened iPhone4. It's going to be the hottest item of the summer. Don't cancel your order.

I agree. I would not cancel...yet. I saw one on ebay that went for 1300$ (16GB). Steal IMO. Have a "buy it now" with free shipping for 2K and see if you have any takers. Not that I've done this before...

 

[Mr Slippy IV]

P.S. If anyone wants to hire a registered polysomnograh technologist, let me known.

The Army is almost always looking for civilian professionals... I think there's a base in Lawton. I know that's far, but its a shot.

 

[ThomasJL]

Cancel the order.

Cancel the order. For the past couple of years, when Apple has released a newly redesigned product, it was plagued with big problems. You are better off if you wait a couple of months to buy an iPhone 4, because Apple will have listened to the numerous complaints and corrected the defects in their subsequent batch of iPhone 4's.

 

[Consultant]

Cancel the order. For the past couple of years, when Apple has released a newly redesigned product, it was plagued with big problems. You are better off if you wait a couple of months to buy an iPhone 4, because Apple will have listened to the numerous complaints and corrected the defects in their subsequent batch of iPhone 4's.

What problem with iPhone 1?

What problem with iPhone 3g?

What problem with iPhone 3Gs?

Ever heard of Apple Care, comes with all Apple products with industry leading support?

 

[Trius]

What problem with iPhone 1?

What problem with iPhone 3g?

What problem with iPhone 3Gs?

Ever heard of Apple Care, comes with all Apple products with industry leading support?

Well.... with iPhone 1, it was huge price drop after the first few months if I remember correctly. With iPhone 3g I recall something about cracks appearing in the early models (I skipped the 3g). I got 3gs on launch day...don't think there were any problems with it, but it wasn't really a new design either.

He is right. It's usually better to wait a few months after a new design, but i'm impatient.... I will have my iP4 on the 24th

 

[tigres]

Here is my situation... I found on today that my position may be getting "cut" at the hospital where I am employed due to economy. I was lucky enough to get through and I pre ordered the 4G on the 15th. I purchased the 3GS on launch day last year, but AT&T did not give me the subsidy this year because of a glitch in the system where my wife was put as the primary on our account without us knowing. I used my debit card to pay the $550 for the 32gb 4g. With the possibility of losing me job, the new iPhone doesn't seem worth it.
I spent 4 hours this morning on hold and being transferred to several people trying to cancel my pre order. I got tired of being on hold and "accidentally" getting disconnected 3 times this morning.
I need advice on whether to keep my pre order and maybe sell the 4g to make a profit or just to continue to try and cancel my pre order. Financially we would be ok for a while without a job, but either way I don't think I could justify keeping the new iPhone due to the uncertainty of my job. Wish me luck everyone and pray that I get to keep my job.
P.S. If anyone wants to hire a registered polysomnograh technologist, let me known.

Sorry to hear of your job misfortune OP. Make sure to check with your VA hospitals, I know they offer similar positions.

Oh, and cancel the order IMO.

 

[phillipjfry]

I'd look at it like this. You were lucky enough to get one, use it, like it, cherish your precious.

If it comes to needing money from the iPhone, sell it. In case you missed all the press related to iPhone sales, I have no doubt you could resell your phone for the same, if not 150% what you paid for it. Just make sure you take paypal!

 

[Friscohoya]

Here is my situation... I found on today that my position may be getting "cut" at the hospital where I am employed due to economy. I was lucky enough to get through and I pre ordered the 4G on the 15th. I purchased the 3GS on launch day last year, but AT&T did not give me the subsidy this year because of a glitch in the system where my wife was put as the primary on our account without us knowing. I used my debit card to pay the $550 for the 32gb 4g. With the possibility of losing me job, the new iPhone doesn't seem worth it.
I spent 4 hours this morning on hold and being transferred to several people trying to cancel my pre order. I got tired of being on hold and "accidentally" getting disconnected 3 times this morning.
I need advice on whether to keep my pre order and maybe sell the 4g to make a profit or just to continue to try and cancel my pre order. Financially we would be ok for a while without a job, but either way I don't think I could justify keeping the new iPhone due to the uncertainty of my job. Wish me luck everyone and pray that I get to keep my job.
P.S. If anyone wants to hire a registered polysomnograh technologist, let me known.

The fact that you are askng the question combined with your willingness to pay the unsubsidized price suggest one of two things. You are either wealthy and "money aint a thang" or you are a true apple devotee. Either way, it looks like keeping the iphone is in your future. Besides, how are you going to communicate and find a new job?

Best of luck...

 

[purplestingers]

Ee Bra U stay Drunk

I hate to sound like a condescending elitist jerk but hey I am drunk right now. Mind you though an educated drunk who can handle his booze!! If $500 is a concern to your household finances then perhaps buying a piece of expendable consumer electronics is not the wisest decision? regardless of whether or not you may be loosing your job. The 6 month rule is a "Golden Rule" at least in my book. What is the 6 month rule? Well basically you should have at least 6 months of LIQUID net worth to last you for 6 months worth of ALL expenses you would incur regardless of whether you have income flow or not. I view 6 Months as the minimum guideline!! Most people depending on their situation should have at least a year or better yet a 2 year buffer. If you really want to be financially savvy and independent then a 5-10 year buffer would be recommended.

Note when I say "Liquid NET worth" this means a savings buffer of liquid assets. This should not include tapping into retirement funds, educational savings, home equity, or selling your home!!! I mean actual cash on hand!! without having to sell or sacrifice anything in your normal day to day life. Yes this means health insurance as well!! Even if you are unemployed.

Again sorry If I came on a little strong and patronizing and I apologize if you do take offense, but given the context of your question I do not believe that my response was out of line.

EHhh, I would say that most people are purchasing this new iphone 4 on a wim, not because they can afford it, but because they want it so so bad, why because they are (Apples) not oranges and they (must have) the latest and greatest gadget, period, Now, for one to realize that he (mite) not be able to sacrifice food fore his child for a few months ie; the cost of a 4g is manning up. He should be commended fore such a mature thought and action. And you being drunk in honolulu, where I was born and raised my whole life, till I realized I was going know were, except to the beach, like Sandy Beach on the south east shore, where I ruled with the up most respect for years, makes me wonder, if your an import from the mainland just trying to fill an empty hole? a void you got by the way you were raised. Hawaii as a whole is a melting pot vast in asian cultures and warm with family love. I only would hope that next time you decide to post such arogance, you STOP to take one more drink, and hopefully you will pass out DRUNK. BTW, are you local, and if so what school did you go? Hawaii school for Girls? I went to St Louis High and on too UH.

purplestingers

 

[0098386]

Congrats on actually pondering whether to cancel it! I would cancel. In uncertain times frivolous things like gadgets and phones should always be the first to go.

 

[gan6660]

I say keep it. You could easily make $500 on it by selling on ebay on the 24th. Just do a buy it now with immediate payment required and limit who can buy. I plan on doing this and me, my mom and dad are going to wait on line at our local apple store to buy 15 of them (I was told the limit was 5 each). Sell them for at least $1000 each and thats a $400 profit on each one!

 

[QCassidy352]

I plan on doing this and me, my mom and dad are going to wait on line at our local apple store to buy 15 of them (I was told the limit was 5 each). Sell them for at least $1000 each and thats a $400 profit on each one!

wow, not cool. not cool at all. and what makes you think anyone will pay $1000 for a phone?

OP, I think your logic is sound - if you have to ask yourself whether you can afford it, you probably can't. Personally, I'm strongly considering keeping my 3GS not for economic reasons but just because I think it's still a great phone that will get even better with iOS 4. So it's not like you won't have a nice iphone regardless.

 

[ARF900]

NO NO NO definitely do not cancel! Youll kick yourself later. Get the phone on the 24th and immediately sell it on ebay.

Best of luck of to you!

 

[The3nd]

I say keep it. You could easily make $500 on it by selling on ebay on the 24th. Just do a buy it now with immediate payment required and limit who can buy. I plan on doing this and me, my mom and dad are going to wait on line at our local apple store to buy 15 of them (I was told the limit was 5 each). Sell them for at least $1000 each and thats a $400 profit on each one!

That sounds full of fail... what about ETF's? Did you make 15 reservations too?

 

[TheBritishBloke]

I say keep it. You could easily make $500 on it by selling on ebay on the 24th. Just do a buy it now with immediate payment required and limit who can buy. I plan on doing this and me, my mom and dad are going to wait on line at our local apple store to buy 15 of them (I was told the limit was 5 each). Sell them for at least $1000 each and thats a $400 profit on each one!

Hah! Good luck with that, most I've seen them go for is $900, and hey, the most you can buy in store is 2 per person (I believe they monitor it using your cards).