The rule of thumb: half the resale value
If the repair costs more than about half of what the phone is still worth used, you should take a second look. If it costs less, it is almost always worth it.
You can find the resale value in a few minutes: check on a second-hand marketplace what your model costs in good condition. That is the number you compare against.
This rule is deliberately rough. It doesn't replace a conversation, but it prevents the two most common mistakes: paying a lot to repair an old phone and throwing away a good phone because of a small issue.
