Today, Apple ended months of media speculation and finally unveiled the company’s newest releases. The iPhone 5C, 5S and iOS 7, the new operating system have many wow-worthy features–from new cameras to faster speeds.

But here’s what the young, fabulous and frugal really need to know about Apple’s newest announcement.

If color and affordability are on your list of priorities, that’s what you’ll get with the iPhone 5C. How much does this new iPhone cost? The vibrant device will run you $99 (16 GB) and $199 (32 GB). A coordinating case will add an extra $29 to your bill. iPhone 5C is available in blue, green, pink, yellow and white; cases in blue, green, pink, yellow, black and white.

The iPhone 5S is unarguably the sleeker version of its 5C counterpart–and is available in gold, silver and space grey. It’s perfect for those of us who prefer sophistication over a kaleidoscope of color. The iPhone 5S costs $199 (16GB), $299 (32GB) and $399 (64GB). iPhone 5s cases will run you an extra $39 and are available in beige, black, blue, brown, yellow and (RED).

Just how fast is the iPhone 5S? Glad you asked. More on this in the next section.

Now I’m no fan of gaming and I’m certainly no expert on what a gamer looks for in a device. But I hear speed is a big thing. And Apple says the 5S is more than 50 times faster than the first iPhone, thanks to a new A7 chip. Sounds just fast enough for my gaming friends to have a grand time!

If you’re young and fabulous, chances are you’re also a fan of the selfie and addictive image-driven social platforms like Instagram. You’ll like this: the iPhone 5C and 5S have an all-new 8 megapixel iSight camera and a new FaceTime HD camera. The 5C will also feature a color-correcting True Tone flash for better photos, according to Apple.

Great news: There’s a new fingerprint sensor, called Touch ID, on the iPhone 5S. Here’s to fewer sleepless nights over stolen and hacked iPhones!

Even better news: If Siri’s impatient, obnoxious tone drives you insane sometimes, congratulations, there’s now a male Siri. Let’s hope he’s a lot more patient, has a kinder voice–and is times less annoying.

Here’s where Apple gets my attention: iOS 7. This operating system is just what the doctor ordered for those of us who:

Don’t want to buy a new phone; love multitasking; wouldn’t mind cheating on Pandora and Spotify; love the wonder-working powers of photo filters.

• a new Camera app with filters
• the ability to switch between apps in a “more intuitive” way; a Notification Center accessible from the lock screen.
• a free iTunes Radio service with over 200 channels

It’s available for iPhone 4 and later, iPad 2 and later, iPad mini and iPod touch (fifth generation).

When do the new iPhones and operating system come out?  Save these dates:

iPhone 5C available for pre-order in select countries

iOS 7 available for download

iPhone 5C, iPhone 5S available in select countries