On September 12, Apple will launch its new iPhone. A survey by the personal finance website, WalletHub, released today shows that some 28 million people think that getting one of the new iPhones is worth going into debt for.
In that same vein, 44 percent of millennials think that their cell phone has more of an impact on their live than their credit score.
The stock market is booming, not in small part due to Apple and its signature product. Veteran investor, Warren Buffett's whose Berkshire Hathaway company owns a big stake in Apple has called the iPhone "indispensable" to many people.
Has the iPhone craze gone to far when consumers are willing to risk debt to acquire one. Not that long ago in the US, debt was a condition to be avoided at all cost. Apparently no longer.
However, an iPhone which also functions as a miniature computer can be viewed as an investment in the future of what in becoming an increasingly mobile economy, according to the WalletHub piece.
- Millennials were 5 times more likely to agree that possessing the new iPhone is worth going into debt.
- According to WalletHub, nearly 30 percent of those shopping for a cell phone don't realize that they might have to undergo a credit check when trying to purchase the phone.
- Almost 187 million Americans trust Apple and Google to handle their personal data more than they trust the government.
- Nearly 20 percent of people would rather have unlimited phone data than an excellent credit score.
In that same vein, 44 percent of millennials think that their cell phone has more of an impact on their live than their credit score.
The stock market is booming, not in small part due to Apple and its signature product. Veteran investor, Warren Buffett's whose Berkshire Hathaway company owns a big stake in Apple has called the iPhone "indispensable" to many people.
Has the iPhone craze gone to far when consumers are willing to risk debt to acquire one. Not that long ago in the US, debt was a condition to be avoided at all cost. Apparently no longer.
However, an iPhone which also functions as a miniature computer can be viewed as an investment in the future of what in becoming an increasingly mobile economy, according to the WalletHub piece.