Iphones cost \( \$ 800 \) in 2020. In 2022, it cost \( \$ 750 \).

Did you know that the pricing of gadgets like iPhones often reflects economic factors such as inflation, production costs, and market demand? In 2020, the high price tag of \( \$800 \) was partly due to the innovation and technology packed into the device, whereas by 2022, Apple might have adjusted their pricing strategy to remain competitive amid a plethora of budget smartphones. When it comes to purchasing a smartphone, timing can be crucial! Many buyers make the common mistake of buying the latest model immediately after release when prices are at their peak. Instead, waiting a few months can lead to significant savings as companies often cut prices or offer discounts shortly after launch—just like the shift from \( \$800 \) to \( \$750 \) we saw with the iPhone. Patience, my friend, can lead to a happier bank account!