Oops, I forgot to blog for 8 months. What can I say, I got busy at work.
During that time, however, I managed to save a boatload of cash by switching up my cell phone and carrier. I'm here to help you do it, too!
I was previously on Verizon (for a LONG time... 17 or 18 years?) and paying $156/mo for our two phones. We always got whatever phone was "free" when the trade-in cycle was up. The $156 was after 20% off I got for my employer discount.
Yikes. This is just nuts.
We waited for our 2 year contract cycle to be up and decided to switch to Ting. Ting is a contract free MVNO and uses the Sprint network and uses Verizon for call roaming whenever there isn't any Sprint coverage. They have a great price structure for us where you pay for what you use as determined by the simple price buckets they have (S, M, L, XL for data, talk, and text). Their super easy to use dashboard tells you how much data, calls, and texts you've used throughout your cycle so that you can manage your usage, if desired.
All we had to do was buy our own phones and switch! When you port your numbers to the new phones, it automatically cancels your account with Verizon (although you should verify that yourself if you do this).
We bought our "new" phones through Glyde via the Ting store; we got refurbished Samsung Galaxy IIIs for around $200 each and they work beautifully.
So, how much did we save? We plan on replacing our phones every 2 years, like we did with Verizon, so I will show our savings over a 2 year span:
Phones = $0
Monthly Bill = $156 x24 months = $3,744 (omg, kill me)
Total Over 2 years = $3,744
Average 1 year cost = $1,872
Phones = $400
Monthly Bill = $50 x24 months = $ 1,200 (this depends how much you use)
Total Over 2 years = $1,600
Average 1 year cost = $800
TOTAL SAVINGS = $1,072 PER YEAR!!!
Dang, that is a lot of extra money to shell out for absolutely no reason. The only "con" is that there is no data roaming if you are outside of Sprint's reaches. But, really, if you are in the middle of the woods you shouldn't need to be Facebooking.
Just for fun, I did some quick calculations to see what I would end up with if I put the $1,072/yr in an index fund earning 7%/year on average. In 10 years I'd have $14,811. In 20 years I'd have $43,947.
I hope you can find some inspiration to cut the cord with big cellular. There are many MVNOs using a variety of networks out there to look at, I just happened to like Ting and their price structure works for us. Happy Savings!
By the way, I was not paid by Ting to say anything, nice or otherwise, about them. This is all my own doing.