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Tell your parents that instaling a beta version of iOS is not like jailbreaking. Of course, the OS can be unstable (especially in Beta 1), but who cares? Apple is usually fixing their beta big bugs pretty quickly.
Of course, it is a good solution is you have enough money, but if you are on a tight budget, I would just send back the iPod touch and get the money back.
 
I recently was approved for Apple Financing for a IPhone 5S and at the same time I decided to buy a Blue 5th Generation 32 GB IPod Touch. Did I waste my money on the IPod Touch? My 2 4th Generation IPod Touches are no longer supported by Apple.

Purchasing anything using credit, other than a house, is a waste of money in my opinion. Especially if you already own a perfectly good iPhone 5. One of the nice things about Apple products is that their quality allows for a long life, usually without problems. Why not benefit from that advantage?
 
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I get why some people have another iPod like an iPod Nano or iPod shuffle, but another iPod touch just for music seems a little over the top.

We've got some for our kids as they weren't allowed an iPhone, but had all the benefit of apps, browsing, music, videos at home or in the car.

Even when one has an iphone now, the touch is 64gb, cheaper than the equivalent iPhone by a long way. The touch is still used a lot as it doesn't matter if the battery is run flat, her phone is still fully charged.
 
I have no plans on returning it, it it was ordered on the 20th of September so it may be to late to return it anyways (the IPod Touch shipped on the 22nd of September), I should also note that if I break the $299 IPod Touch while doing Beta Testing, replacing it will be much cheaper than a $649 Early Upgrade IPhone 5S Replacement!
If you break your iPhone, you can do an OOW replacement with Apple for $270ish.
 
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