Cell phones – something we see in the hands of everyone from the neighbor’s five year old to our parents, perhaps even our grandparents, and both the bills and the devices themselves are some of the biggest expenses we pay. It is now estimated that approximately three quarters of the U.S. population owns at least one smart phone, with 45% of people admitting they are constantly connected during the workday. Do we really need cell phones? Probably so. For some of us, our cell phones are our lifelines. Do we really have to spend hundreds of dollars on cell phone service every month? Probably not.
Saving money on your monthly cell phone bill is possible, but it may require a bit of sacrifice on your part. Here are a few ways to reduce your cell phone bill:
1) Switch to a lower cost plan. Do you really need unlimited everything? Peruse your previous six months’ worth of cell phone bills to see exactly what your average usage is. There’s a good chance you could save by switching to a lower cost plan. Streaming videos uses massive amounts of data, so perhaps you don’t really need to watch Netflix while you’re sitting in the doctor’s office. That’s why all those magazines are ther eon the table.
2) Consider changing carriers. In 2017, MONEY evaluated over 100 cell phone plans from 15 different companies, comparing cost per gigabyte, hidden fees, national network quality, speeds, and data limits. They found five of the best plans on the market, starting with a basic plan from Republic Wireless (Republic Wireless 30) using hybrid calling technology that seamlessly transfers voice calls between Wi-Fi and cellular networks for a mere $30 per month. If your plan is over $100 every month, this could represent a huge savings for you over the course of a year.
3) Think outside the box. AT&T, Verizon, Sprint, and T-Mobile aren’t the only guys out there. If you’re tired of paying your carrier hundreds of dollars every month, look beyond the biggest carriers and consider a discount carrier with a slightly lesser known name, like Twigby, currently offering 50% off your first two months of service, or Ting, where the average bill is just $23 per month, per phone.
4 ) Get out of your contract. You don’t really need to upgrade your phone every time a new one comes out, do you? Why not pay your current phone off and switch from a contract to a month-to-month plan? If you’re willing to stick with slightly older technology, you can save on monthly lease payments and service charges for your phone. If you’re paying $25-$45 per month on these fees, you will save anywhere from $300 to $540 per year. With that level of savings, you can afford to buy a newer phone and pay cash.
If your cell phone bill represents one of your biggest monthly expenses, using one or more of the above strategies to reduce that monthly bill can help some of your hard-earned money stay right where it belongs, in your wallet.