I don't buy anything on a daily basis to really get the concept of that but appreciate many do.That's the interesting thing here. $6 coffee every weekday for 52 weeks is $1560. $2 coffee every weekday for 52 weeks is $520. I reckon a lot of folks hold on to their phones for 2 years (they've been conditioned by 2-year contracts) so the iPhone might even be less expensive on an annual basis.
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This is entirely subjective. Your cut off point is going to be different from mine as will the pros/cons list.
I do upgrade every 2 years though and even the price increase does not compute. In the UK you don't really get the privilege to spread out the cost. It's added to your monthly contract. My contract went from £30 p/m to £40 p/m pretty much overnight when the iPhone 7 was released. A fee was also added to the handset price too but I can't remember how much that was. I could afford £10 a month more sure as it's less than £1 a day, but I didn't really get why it had happened? Anyway, I didn't lose sleep over it and Apple got a few hundred quid less from me this time around.
My cut off point is perhaps more logical than most and largely based on principle rather than cost. As I've said I could afford it if I really wanted it but just wasn't convinced. Nobody likes being mac'd off like a two bob.