Investing in a new iPhone, whether for practical purposes or just to stunt, is a difficult decision to make. Do you buy Apple's latest iPhone model or do you wait it out for an even better one to be released one week later (I'm exaggerating, of course)? If you're an informed consumer and like to know just what you're getting into you'll want to read up on what Apple has up its sleeve for the iPhone 7.

Reports for the iPhone 7 have included Apple's plans to get rid of the standard headphone jack, instead opting for either wireless headphones or lightning port connected EarPods. The move would help Apple create a slimmer phone. Another expected feature is making the phone water resistant.

According to new reports, Forbes writes the iPhone 7 will be similar in size to the 5.5-inch iPhone 6S Plus. However, the iPhone 7 Plus might have an even larger screen, in addition to more RAM and a better camera. Macrumors reports, "There may be some distinguishing features between the iPhone 7 and the larger-screened iPhone 7 Plus. The iPhone 7 may ship with 2GB RAM, while the iPhone 7 Plus includes 3GB RAM, and the larger-screened iPhone may also include better camera. According to rumors, the iPhone 7 Plus may be available with a dual-lens camera system that offers DSLR-like image quality with 2-3x optical zoom and improved performance in low lighting conditions."

Forbes also reports there could be a third iPhone 7 model besides the usual iPhone 7 and iPhone 7 Plus. As if dealing with two models wasn't enough. Forbes writes Apple could possibly only feature the dual camera on one of two iPhone 7 Plus models. Thus it'd be selling four models with the lowest in price being the iPhone 5SE which will reportedly feature the original four-inch screen but with upgraded software and curved edges like the iPhone 6.

The iPhone 7 is expected to arrive in September.