That $150 extra gets me precisely nothing that I don't already have. Actually it's a lesser phone because mine has a microSD slot that I use. Here's a thought experiment.... send me $150 on paypal now (email on my profile). I'll give you nothing in return. See if you feel like it was money well spent.

Hey as long as your able to get the latest OS and the phone fits your needs, great. But of course other people value different things, and obviously iPhones fit better for lots of people.

jp makes a valid point.

Just going to throw out some rough numbers (in the U.S.) assuming $50 for your data plan, for 3 years.

3 year iphoneSE experience ($400 + 36 months * $50) = $2200

3 year cheap Android experience ($250 + 36 months * $50) = $2050

Now compare the camera, frame rate, screen quality, security, stability, and support of an iphone 5 vs a $250 Android. When looking at the 3 year cost, you are paying a 10% premium for a far superior experience.

I never spend more than $20 a month on my pay as you go data. Don't use calls or sms. That's besides the point though. When you have no money $150 is two weeks worth of food. That becomes a bigger priority.