I normally upgrade every year to the flagship iPhone. But starting with the normal 6.1 iPhone 11 I haven given it more thought. If the 12 Mini wouldn't have been released, I think I would have stayed with the 11.
This year I will upgrade for sure , but not sure when exactly, because of only one simple reason. 13 Mini will be the last Mini for a long time. Normally I wouldn't have upgraded, only if TouchID would have been reintroduced. I love the 12 Mini and some better battery life and smaller notch and a bit better camera are no reason for me. But as said unfortunately the 13 Mini will be the last. So I will upgrade to it for sure because I want the latest Mini available if using it for a long time, don't know when I will upgrade though. Earlier if TouchID is included, later if not. Maybe next year then. It is not about the money itself though. This would never be a reason. But I think more about what I spent my money on, saving or upgrading to a not so different device...