can someone talk me out of this or tell me it's a bad idea?

[dewthd]

I am really struggling this month after a lot of unexpected things popped up over the last few weeks and it doesn't matter how much I work it out I simply don't have enough money to last until my next pay day.

I have nothing I can cut off like youtube premium, apple music etc as I don't have anything like that to start with, I don't have anything I could sell (apart from the subject of this thread..) and nobody I can ask. I don't drink or smoke etc either so i can't stop that to save money.

The only reason I am even considering this at all is because I am due to get 3k soon, only trouble is that won't be until june so no good to me right now to get me through the next 3 weeks..

The only things I have of any value at all is my iphone 17 pro (bought when it came out from money I had been saving up to buy a phone) and a Mac mini. If I took them somewhere like cex or something I would get around £850, then I go out and buy a samsung for me to use for now (£99).. leaving me with the rest.

Plan would then be to replace my iphone and mac out of the 3k

It's the only thing I can think of doing, I need the money for food/cat food, gas and electricity and my fridge freezer packed up this morning just to add to it all.

I can't get a loan or credit card.. it is only to get me through the next three weeks then I would be ok from my next pay as I already worked it out today.

good idea or really bad?

What do you use your iPhone and Mac for? Unless it's work, then sure, do what you have planned but stuck with the Samsung after and use some of the £3k to start an emergency fund.

I wonder if you have any relatives that could help you out. If not then you need to use food from your own supplies eg is your freezer full ? A baked potato with a tin of tuna is a meal. Also have a look at feed your family for £20 a week facebook pages. Egg and chips is economical. With any luck you might not have to spend too much in the coming weeks.

Make a budget plan. You can get a template from money saving expert. There's a board called (iirc) debt free wannabe. It's surprising how often people had forgotten things.

Why do you need another iPhone? They are so so so expensive. You can buy a brand new decent Android for £200

Is it just you or do you have children or other dependents to consider?

Just sell them, you need gas/electric so use the money for that & could you use a food bank?….

Get rid of the iPhone and get a cheaper phone, why do you need an iPhone? They're silly expensive. Keep the 3k as savings instead for when you next need a new appliance.
You need to stop buying expensive gadgets and living beyond your means. You need to have a decent amount in savings for when things go wrong or something breaks.

What's wrong with keeping the Samsung? Why do you need an iPhone?

How much would you be losing on the phone/mac?

I’ve just bought ds a refurbished iPhone 13 from music magpie for £200 - I always buy the dcs phones from there as they’re always dropping/losing them. Buying a brand new iPhone 17 for thousands is obviously daft when you’ve no money for food!

Are you sure you can’t get a short term loan?

Have you asked Cex already how much they’d give? Just that a brand new iPhone 17 is only £799 to buy outright so what makes you think you’ll get £850 from Cex?

I suppose it’s a bit like a modern day loan shark isn’t it but if you’ve nothing to eat then that’s more important!

Would you really get that much from CEX?

My phone was £99 from Argos, it does everything I need it to, and I have pay as you go at £10 a month. You don't need iPhones if it means you can't buy food!

The iPhone you would probably sell for £350 less than you would buy it back for at CEX. If you end up buying an android phone for £200 as people are sugegsting it would effectively be costing you £550 - not the brightest idea.

I suggest you provide an outline of your outgoings for suggestions.

Food can often be easily cut back for example.

I’m still using an iPhone 12 so you don’t need a very new phone btw

Because it’s a pro not just a iPhone 17!

Would your bank give you an overdraft? And at least go somewhere they will hold the exact items for you like a pawn shop, CEX will sell them the same day to anyone who wants to buy them so you might not be able to get your same items back. It seems mad though to spend 3k just to borrow £850.

Agree moneysavingexpert is good for budgeting advice in general for the future. It helped me sort things out so we have a small emergency fund so unexpected expenses don't push you into these kinds of situations.

The fact that you are so short on money and you are already planning to spend and obscene amount on a phone again the first chance you get is concerning.

Can you not get Klarna or clearpay for your food?

And call your utilities providers and ask them if they can allow you to pay in 3 weeks?

What do you do for work - could you pick up any overtime or ask for an advance?

I am also always wary of being due lump sum payments by a certain time as IME they quite often end up being delayed and then you're stuck all over again. Better to not need to rely on it if at all possible.

Could you get some food bank vouchers? Also use the Too Good to Go app? Have you got any clothes and shoes you could sell on Vinted or eBay?

If you could do without them then selling them could be a good idea, but if you're going to replace them, then no, that's an expensive way of going about things.

could you get an advance from work?

you can likely get a few grudge from 'Nextdoor' or market place.

you could speak to your energy suppliers about how they can help (maybe spread payments over next few months)

unless you have a health issue you can eat very cheaply for 3 weeks.

The. Out the £3000 away fir EMERGENCIES and get help with budgeting & self control!

What has changed about your financial situation since September? To go from having 1k-2k spare to spend on a phone to not being able to get to the end of the month?

Is this a temporary situation?

If you can really get £895 for your phone and mac book and have no other way of getting to the end of the month then you will have to sell, but its a big loss and I wouldnt be replacing further down the line

Your financial situation sounds really unstable. Getting 3k in June is great, but if your now at a stage where you have no savings then that 3k needs to stay as an emergency fund and not be spent on phones or macbook. I wouldn't sell them for a huge loss now only to replace them with your only savings in June

Could you get a refurbished iPhone. I never buy a new one, always refurbished and I’ve never had a problem with any of them.