A Lower Cell Phone Bill is Calling

Wednesday, January 11 at 09:15 AM
Category: Personal Finance
Cell phones. Most of us can't live without them. We can, however, live without the monthly bills that come with having one. With all the bells and whistles with today's cell phones, including smartphones, it's easy to get lured in by the shiny new models. However, a new phone can quickly lose its luster once you're greeted by a large monthly bill.

Fortunately, there are some steps you can take to reduce your monthly bill:
  • Review your bill and current plan. Take a careful look at your monthly cell phone bill to review your usage and coverage. If you have a lot of unused minutes and data, you may want to consider downgrading to a lower plan. Similarly, if you're exceeding your limits, you may want to consider increasing your data or voice plan to avoid expensive overage charges.
  • Connect with Wi-Fi. Nothing can raise your cell bill like data overage charges. That's why it's smart to use Wi-Fi when you can. And with so many merchants and other establishments offering free Wi-Fi, staying connected is easier than you think.
  • Choose a no-contract deal. To make money and encourage consumers to stay with them, many cell phone carriers will offer a lower price on a phone in exchange for signing a long-term contract. If possible, consider getting a no-contract deal and paying more for the phone upfront. Then, your monthly fees will be lower. In addition, if you decide you want to change carriers, you won't be charged with a costly termination fee.
  • Change your phone insurance coverage. Though insurance will come in handy if your phone is lost, stolen or damaged, it can be expensive. Check your monthly bill to see what's included in your insurance coverage, since many providers offer added insurance features that you may not need. You could also consider dropping coverage altogether if you want to keep your monthly payments lower.
  • Shop other carriers. It's always a good idea to take a look at other carriers to see how much you can save. Your current carrier may pro-rate the termination fee, so it may not be as costly to end your contract with them, depending when you signed the contract. Plus, to win your business, some providers even offer to pay out your old contract.
Saving money. It's your call.
With some knowledge, a little investigative work, and a willingness to forgo having the best phone on the market, you really can lower that bill. 

Tags: Financial Education
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