WASHINGTON, DC (WUSA) -- You're eyeing the iPhone 5, but face a bit of sticker shock. Well, here are some ways to scrimp up savings.
First, don't break your contract with your service provider.
"If you just bought an iPhone 4S a year ago, you may not be eligible so you'll have to check with the carrier first. If not, then you might have to pay full price," says CNET's Kent German.
A 16 gig iPhone cost $450, but you can save on your monthly bill.
To offset cost further, consider selling your old phone to a site like Gazelle.
A 16 gig iPhone 4S in perfect condition fetches around $250. Apple offers a $250 gift card when you recycle your 4S through them.
Or donate the phone to a charity such as cell phones for soldiers.
But, here's some advice before you part with your old phone.
"You want to do a hard reset of the phone to the factory settings that wipes the phone completely so any personal data is off your connection with the itunes account that's cleared, photos, apps, all of that. Just make sure you back up your device first," says Ken German.
And, if you want to hold on to your precious unlimited plan, resist the urge to preorder online.
You'll have better luck getting that plan grandfathered-in by talking to someone with your service provider in person.