If you wanted to shave $1,000 a year off your housing expenses, you’d have to move or at least refinance a mortgage. That takes a pile of paperwork and lots of time. Meanwhile, with a few clicks on a website and a SIM swap, many people on a major carrier plan can easily save $1,000 on their annual cell phone bill. I just transfered my service to Sprint’s Free Year of Unlimited promotion (extended to 7/30) and my new bill is $3 a month per line including all taxes and fees. Took maybe 15 minutes of my time.
The average cell phone bill has dropped by over 12% from a year ago. If you haven’t shopped around in a while, you might be missing out on big savings. The WSJ article The New Sticker Shock: Plunging Cellphone Bills (paywall?) shows us how cell phone bills are dropping across the board:
Verizon, AT&T, and Sprint have all been losing net customers this year. Most went to either T-Mobile or various MVNO/prepaid providers which can provide 95%+ of the coverage at a fraction of the cost. (MVNOs don’t have the same roaming agreements as a postpaid major carrier.) Sprint was both a smaller competitor and losing customers, so apparently they felt they had to do something drastic.
I expect to switch to either T-Mobile or an MVNO after my year is up, unless Sprint can come up with another deal.
© MyMoneyBlog.com, 2017.
Read More: The Incredible Shrinking Cell Phone Bill