I have a colleague who has been with the company for over five years. He is kind, friendly, and hardworking. He makes around VND18 million ($700) a month, enough to save for big goals like buying a house or a car with careful management.

But instead of saving, he spends most of his money on new iPhones. Every year, his priority is upgrading to the latest model. Last year it was the iPhone 16 Pro Max, the year before the iPhone 15 Pro. This year, as soon as Apple announced its latest release, he ordered the iPhone 17 Pro Max for nearly VND45 million (US$1,700), even though his current phone is still functional.

Over coffee one day, I asked him: “Why don’t you think about buying a small apartment or saving up for an investment? Our salaries aren’t bad.”

He responded: “A house or a car can wait. Who knows how long it would take to save enough? Renting is easier. But if I don’t have the latest phone model, it bothers me. And having a new iPhone makes me feel more confident when I’m out.”

I respected his choice but could not help doing the math. The iPhone 17 Pro Max costs nearly three months of his salary. If he keeps buying a new phone every year, in five years he will have spent around VND225 million ($8,500), enough for a down payment on a small apartment or to start a serious investment.

I chose a different lifestyle. I like technology, but instead of upgrading every year, I focus on long-term goals. I cut unnecessary expenses and save a fixed part of my salary each month. After years of saving, I now have enough for a down payment on an apartment by the end of this year.

The difference between us comes down to priorities. The excitement of a new phone lasts only a few weeks, but the peace of having a home will stay for years. Saving is not about living in frugality, but about building a strong foundation for the future.

Technology changes every year. An iPhone can become outdated after 12 months, but a home and financial security never lose value. Short-term pleasures are tempting, but patience and discipline create lasting stability.

Everyone enjoys life in their own way. For me, saving is worth it. The apartment I am about to buy will be proof that I have been moving in the right direction.