The excitement around the launch of the iPhone 17 series has swept through Dubai, with many tempted to grab the latest Apple device through easy monthly installments. At first glance, spreading the cost of a Dh5,000–6,000 phone into smaller payments seems harmless. But financial experts warn that this convenience can create a dangerous illusion of affordability, leading to unnecessary debt and financial strain.

Take the case of Sarvesh Singh, a corporate communications professional who recalls his first EMI purchase. He admits that while the phone was exciting, the reality of rent, groceries, and other expenses left him with almost nothing by the end of the month. His advice today is clear: “Only commit to EMIs if the payments genuinely fit your salary and lifestyle.”

Why the iPhone 17 hype fuels EMI decisions With new models like the iPhone 17 Pro, Air, and standard edition entering the market, EMIs are being marketed as the easiest way to keep up with tech trends. But financial coaches say consumers should pause before signing up. Personal finance creator Kartik Iyer points out that for many people, an iPhone’s cost equals half a month’s salary. “A phone is not an asset—it loses value the moment you open the box,” he says. “If you aren’t comfortable investing Dh5,000 in something that grows in value, you shouldn’t spend the same on something that doesn’t.”

The hidden psychology of EMIs One of the biggest traps of buying gadgets on EMI is focusing only on the monthly payment while ignoring the total cost. Financial coach Jay Adrian Tolentino explains that this “anchoring bias” makes people feel like they’re saving money, when in reality, they’re committing to debt for something that depreciates quickly. He adds that EMIs should be reserved for essential, career-related, or emergency expenses that truly justify the borrowing.

Sonal Chiber, Senior Consultant at Crisil Coalition Greenwich, adds that while EMIs can ease cash flow, they can also mislead buyers. “The difference between interest-free EMIs and those with hidden charges is crucial,” she says. “Use them wisely for long-term investments like education or durable household items, not for luxury gadgets or lifestyle spending.”

The culture of ‘spaving’—spending disguised as saving—also fuels EMI purchases. Psychologists explain that buyers often convince themselves they’re being smart with discounts or offers, but the short-term dopamine rush comes at the expense of long-term financial health. The fear of missing out (FOMO) on limited-time deals only makes it harder to resist.

So, should you buy the iPhone 17 on EMI? Experts agree: EMIs are not inherently bad. When managed carefully for essential expenses, they can be a useful tool. But for items like the iPhone 17, they often create more financial stress than joy. Apple will release another model next year, and chasing each launch on credit can keep you stuck in a cycle of debt.

The smarter move is to save for the things you want while investing in the things you need. That way, you’re not just keeping up with technology—you’re keeping control of your finances.