Is there a big difference between the iPhone 4 and the iPhone 5?

Is it worth the extra money to pay for the 5 instead of the 4?

The iPhone 5 has a larger display
faster processor
faster internet (4G LTE)

if its "worth it" depend what you want, and how long you plan on using it.

IPhone 5 is just much larger and lighter than iPhone 4, as well as a faster chip, the latest wireless technology, an 8MP iSight camera.