Savings Report Says iPhone 7 Could Cost More Than you Think

The tech world was buzzing at last week's announcement of the new iPhone 7. Depending on which version of the phone you get, it also could mean jacking up the total price as well.

“I think that seeing all of the costs in one place, not only the phone cost but all of your monthly costs will definitely have some sticker shock,” Wallethub analyst Jill Gonzalez said.

The folks with WalletHub crunched the numbers in their new savings report, and they found that over the average 2-year contract, folks are spending a lot of cash for that fancy new phone.

“The iPhone 7, of course, is a major cost by itself. But then you also have to add on paying for your texting, your minutes, and of course all of your data.

That’s right, they say depending on your carrier, individual plan, and the type of phone you get, the 7 or the 7 plus, people can save just over $1,300  by sticking with their old phones.

“And families can save over $2,300,” Gonzalez said.

By shopping around for different carriers, data plans, you could still save some cash on this new tech toy.

“Each provider have their own benefits and things on where they can improve as well.”

Or you can just update your IOS which has reportedly caused some major headaches. Many folks claim after updating their software, they’ve been frozen out not able to access the phone altogether.

Bottom line, all of this probably won't keep people from getting the new smartphone, but with this price comparison, you can make that call for yourself. The iPhone 7 will be available Friday.