When the latest version of something comes out, most people want it. It doesn't matter if it's a new brake pad or the latest smartphone, the desire exists. But in terms of technology, there seems to be a new model unveiled every other month.



Take Apple products, for example. Yesterday was the release of the iPhone6, and as a result, everyone with an iPhone now has an outdated device. Now, consumers are having to decide how much they really care about owning the next new thing, and if it's really worth shelling out all of those bucks.

Without a contract, the iPhone6 starts around $649. That's a mortgage payment for a lot of people. If you are due for an upgrade from your carrier, then you might be in luck. If you have the patience (and if your phone lasts for two years) to play the upgrade game, you can stay relatively on par with the latest releases.

But the profit margins aren't slowing down. So consumers should expect new releases all the time. The big question is, then, how much are you willing to pay for the upgrade? At what point do we, as consumers, ask for a break? Can they at least keep the charges the same? Nope, because the difference, in Apple's case, between 900 billion in profit and 899 billion in profit makes all the difference.

In the future, maybe tech producers will make a device that will last longer than one year with the ability to update the software, not completely overhaul the hardware.