Is the iPhone 14 Really Worth $1,199?

The quick answer? It depends.

It's the news tech enthusiasts everywhere have been waiting for. Apple is releasing a new iPhone 14, and those who love new technology may be counting down the minutes until they can get their hands on it.

As of this writing, Apple hasn't officially launched the new iPhone 14. The phones are expected to go on sale starting September 16, though it may be possible to pre-order the iPhone 14 starting September 9.

Meanwhile, initial pricing estimates put the iPhone 14 as high as $1,199. That's not a small amount of money. And so it raises the question: Is the new iPhone really worth buying at that price point?

What an iPhone 14 might cost

Until Apple officially launches the new iPhone 14, we won't know exactly what it will cost. But initial estimates are putting the iPhone 14 Pro at $1,099 and the iPhone 14 Pro Max (which includes more storage) at $1,199. Meanwhile, the standard iPhone 14 is expected to retail at $799, so that's a more affordable option

These prices, however, are based on an outright phone purchase. You may be able to snag a discount by signing a new cellphone contract or using other methods.

What's so great about the new iPhone 14?

If you're big on having extra storage, then the iPhone 14 might appeal to you. The phone is rumored to also have an upgraded camera.

Just as importantly, the iPhone 14 is expected to be the first iPhone series to support always-on display functionality. That's something Android users may be used to, but it's eluded iPhone users thus far.

Should you splurge on a new iPhone?

Let's face it -- we're a society of people glued to our phones, and we rely on our phones constantly. So it's easy to argue that a new, upgraded phone could improve your day-to-day quality of life -- especially if you're struggling with an outdated phone that's seen better days.

But should you empty your savings account or rack up a huge credit card tab to buy the new iPhone? Well, that depends on how you're doing financially.

If you have a decent amount of savings and don't already have credit card debt, then you may want to splurge on the new iPhone if it will make you happy. But if you're not in the best place financially, then now's probably not the time to make a huge purchase -- especially if you already have a phone that functions perfectly well.

Furthermore, as is the case with all new technology, if you invest in the iPhone 14, you could easily wind up coveting the next model Apple releases. So you'll need to ask yourself if it pays to buy the iPhone 14 now, or wait for something better to potentially come down the pike.

All told, there are cheaper options for replacing an old mobile phone than the new iPhone 14. If you're someone who lives and breathes new tech, it may be worth it to splurge. Otherwise, you may want to save your money for something else.