Texas Trust Money Management Advice

Money Management

Is Your Mobile Phone Bill Out of Control?

Every time your turn around it feels like mobile phone companies are finding new ways to charge consumers more for their mobile service plans. While many people believe that is simply the price for having these valuable services, the fact is that many consumers are looking at their mobile plan and thinking to themselves, 'how did it get this high'?

It is possible, however, to take back control of your soaring mobile phone bill and get it back in line with your household budget.

Cost of Mobile Plans

If you are like many consumers, drawn into mobile phone stores with the promise of low monthly rates on shiny new phones only to feel as if they picked your pocket by the time you left, it is time to make some changes to the mobile plans you are purchasing.

Consider these changes to your mobile plan and see how much money you can save month after month.

  • Skip the contract. Contracts offer very little ROI for you – and many, many benefits for the mobile phone company. Simply put, contracts serve their interests and quite often not yours. Choose a plan that's in your best interests instead.
  • Negotiate for lower rates. You will have even greater bargaining power if you compare prices with other mobile phone providers and walk in armed with the knowledge of what their competitors can offer you. Don't only negotiate for better prices on the monthly service, but also bargain to eliminate or reduce activation fees and other “hidden” costs.
  • Eliminate unnecessary services. The chances are that you are paying for services you will never use as part of your mobile phone plan. That includes things like roadside assistance, 411 services, mobile phone insurance, and premium voice mail services that aren't necessary and many people never use. Stop paying extra charges for unnecessary services.
  • Consider prepaid mobile services. The great thing about a prepaid mobile phone is that you know exactly how much you are going to pay for your service from month to month. There are no surprises, and you can save money over a contract plan. Many prepaid mobile companies feature cheaper data plans than are available to people signing up for contracts.

Reducing Your Mobile Phone Bill

Trimming the fat from your cell phone bill may feel like a Herculean task, but it does not have to be. Part of it involves monitoring your use to determine how much time you spend talking, texting, and surfing on your phone – and where you are when you do these things. The other part involves looking for alternatives that may allow you to make significant money-saving changes to your mobile plan. This includes:

  • Bundling services. Many companies are now teaming up with mobile phone companies allowing you to get lower rates if you purchase your mobile phone services from the same company where you purchase your cable or satellite services, home Internet services, and even your home phone services.
  • Using Apps and Wi-Fi When Possible. Apps can replace many of the services your mobile phone company charges you for, including text messaging and even talking. Take advantage of apps like Skype and various texting apps that allow you to communicate freely via Wi-Fi.

Speaking of Wi-Fi, use that whenever possible instead of relying on your phone's data. From shopping malls to fast food restaurants, and many places of employment. There are few places you go these days that do not offer free Wi-Fi, Then, at home, your Wi-Fi can save the day. By reducing your reliance on your provider's mobile data network to only times you are actually on the road or in a Wi-Fi wilderness, you can significantly reduce your mobile data plan to a more management level.

Little changes like these can help you tame the cost of your mobile phone plans so you can keep your expenses under control.

Please note, information and interactive calculators are made available to you as self-help tools for your independent use and are intended for illustrative purposes only. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.