How to save money for the latest iPhone with Multipl?

Buying an iPhone is expensive! There’s no doubt about it. Just look at the latest iPhone 13 and iPhone 13 Pro. They cost ₹69,900 and ₹1,19,900 respectively (before trade-in). But owning an iPhone is also something we dream and aspire for. We’ll give you some simple tips that can help you fulfill this dream.

Most millennials consider saving to be the most challenging task. When there are hundreds of ways to splurge and only one source of income – the monthly paycheck – saving falls to the bottom of most people’s “to do” list. Here are some tips on how to save for an iPhone.

Plan a Budget

If you wish to buy the latest iPhone, you must know how to save for it. Make a list of your spending categories, such as your daily commute, eating out, rent, utility bills, and entertainment. Try to figure out where you spend your money. Using available tools or a spreadsheet, you can modernize the age-old concept of budgeting. You’ll realize that there’s still time to save by the end of the month. Many may argue whether it’s actually saving?.

For instance, If you skip a coffee or a movie on weekends, you might save only a little money, but over time this little amount will grow to become much bigger. Consider cooking at home on weekends or bringing tiffin to work instead of buying food from restaurants. If you are not enthusiastic about taking public transportation, consider carpooling or sharing a cab. The results may not be apparent in the first month, but you will gain control of your spending over time and have the required funds to buy the iPhone.

Automate your Savings

If you are unsure how to save for an iPhone, automate your savings by transferring a set amount of money, say ₹5000, from your salary bank account to savings. It makes reaching your savings goal a little easier.

However, one must also plug the leaking holes. For instance, ‘unsubscribe’ from all online retailers mailing to avoid temptation. Switch to debit cards if you are concerned about going overboard with credit cards. These will eliminate your spending options and limit your spending to the money you have.

Add Fun to your Savings Journey

Saving may be a dull activity. But add a twist, and you’ll be there. How do you feel about getting exclusive brand benefits when saving for the latest iPhone? Isn’t it interesting? 

On Multipl, you get exclusive deals on jewelry, travel, bikes, electric scooters, career courses, child’s online education, smartphones, appliances, laptops, TV, and many other lifestyle categories for additional savings on your goals.

Also, Multipl is the world’s first “Save Now, Pay Later” app. As a result, it maximizes your savings by investing your money in mutual funds based on your risk profile. You will receive unbiased, direct mutual funds based on your targets and commission-free and brokerage-free investment allocation. Thus, saving is no longer boring. When you use Multipl, you save money and get rewarded.

Tell others about your iPhone 14 purchase.

This point may appear strange. But, if peer pressure can make you do so much else, why can’t it make you save? Tell someone you’re saving money, whether your parents, best friend or gym buddy. Or you can hang a ‘saving-board’ in your room and keep track of how much money you have saved. It will constantly remind you of your plans to save.

Find someone good at saving, such as a friend or a sibling. Discuss your savings strategy with them. They can also provide you with some tips. It will motivate you to save more.

Finally, and most importantly, decide to reward yourself if you exceed your savings goal by 20%. Your monthly targets will help you get closer to your saving for dream gadgets goal. Every time you exceed them by more than 20%, reward yourself with your favorite dessert. This small gesture will keep morale high, and you will almost certainly outperform your goal by a wide margin.

Create an iPhone goal on Multipl

You can use Multipl to automate your savings by connecting your salary account to the app. You can set a “New iPhone” goal and begin saving based on your ability. Multipl has partnered with Maple to bring you 10% off (over and above existing website offers) on the latest iPhone. Once the goal is completed you can purchase the phone on Maple’s website.

Choose the “New iPhone” savings goal on the app, enter the amount and duration, and begin saving. Furthermore, the auto-payment option eliminates the hassle of remembering to set aside a portion of your salary for your goals.

The Bottom Line

Buying a new iPhone will cost a lot of money, so make sure you’re saving enough to cover the price. We hope the mentioned points, from preparing for budgeting to automated savings, will ensure that your new iPhone purchase goes without a hitch. And make your money-saving journey easy.

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