Apple’s latest shiny new gadget is the Apple Watch, and they have already sold millions of them. If you are one of those people who loves new pieces of technology, but wasn’t waiting in line overnight to buy an Apple Watch on the first day, then we have some things you need to know. While the Apple Watch is pretty cool, there are still a lot of reasons you shouldn’t be so eager to hand over your hard-earned cash to the California-based company. Here are nine reasons you should save that money for something else — like the Apple Watch 2.

9. It’s First Generation

Apple has a long history of skimping on the first version of their new devices. The first iPod was missing the iconic click-wheel. The first iPhone was missing 3G support, GPS, and even an App Store. The first iPad didn’t have a front-facing camera. You can bet that the second (and third) version of the Apple Watch will include even more features — bigger hard drive, better battery, etc. Unless you have tons of extra money laying around, and plan to buy every generation of Apple Watch, you should wait.

8. iPhone 5 or Better Only

Still rocking that iPhone 4s? Apple Watch won’t work for you. What about an Android device? Forget it. A Blackberry or a Windows phone? Stop reading this article right now. You need an iPhone 5 or newer to pair with the Apple Watch, otherwise it is basically useless. So you may have to upgrade your existing phone, or live with being tied to having an iPhone for the lifespan of your new Apple Watch. No switching to Android for you.

7. It’s Not Really Customizable

Like most of their devices, the Apple Watch is not that customizable. There are nine different watch faces to choose from, including the iconic Mickey Mouse face that you’ve seen on the commercials. But that’s it — just nine. Other smart watches allow users to design and upload their own faces, creating an endless variety of choices.

6. Price

This thing is expensive. The most basic model is $349, and once you start adding fancier bands and a bigger screen, the cost just balloons. Want the gold version? Get prepared to hand over up to $15,000 for the most expensive versions. For a watch with Mickey Mouse on it. With those kinds of price tags, the Apple Watch is more of a social status symbol and fashion statement than it is a useful piece of wearable technology.

5. Security Concerns

While the iPhone, iPod, and iPad can now be tied to a single iCloud account and locked down or remotely wiped if stolen, the Apple Watch has no such features. If your new watch gets stolen, there is nothing to prevent the new “owner” from wiping it and pairing it with their iPhone. Just like that, your $400 (at least) wrist piece is gone forever. It took Apple a while to implement this into their iOS software too, so don’t expect it to change overnight.

4. It’s Tacky

Seriously, it doesn’t look cool. While it may impress those in the Geek Culture, the simple fact is that you are attaching a glowing screen to your wrist. That is never going to be fashionable. Apple may try to convince you that the Watch is trendy. After all, we’ve already seen uber-cool celebrities like Tom Brady and Beyonce sporting their new tech. But don’t be fooled. You are not Tom Brady. You are not Beyonce. The Apple Watch does not look cool.

3. Battery Life

The number one complaint about most smart phones is the battery life. Assuming you own a modern device, you will be used to nightly charging of your phone. Sometimes, under heavy use, you may find yourself struggling for juice by mid-afternoon. The Apple Watch is no different. You will need to charge it every night. Like other Apple products, the charging cable is a proprietary one that only Apple sells. So if you do buy an Apple Watch (which you shouldn’t), treat your charging cord gently.

2. You Don’t Need It

Seriously. You don’t need this thing. Your phone already does all the things that the Apple Watch does. It sends text messages, it gives you directions, and plays your music. It even — and this may shock you — will tell you what time it is. The cell phone (and smart phone specifically) has eliminated the need to wear a watch for many people. Buying another smart device that tells you the time is dumb. Just dust off that old watch in your sock drawer, if you really need something on your wrist.

1. Privacy Concerns

If you already have a smart phone (we’re assuming you do), you may already have your concerns about privacy. Your phone is probably keeping tabs on you in ways that you didn’t even realize, including where you’ve been, what type of online content you look at, and who you’ve been communicating with. If that scares you, stay away from the Apple Watch. It will do the same thing, and it includes other info like heart rate and exercise habits. Now imagine a world where you are turned down for medical insurance because the company found out you have high blood pressure from your smart watch. We’re not at that point yet, but beware what kind of information you are willing to share.