Warning: You’re Losing Money on Your Mobile Phone Service
In 2011, BillShrink reported that Americans were wasting an average of $350 on their wireless plans. Since there are many carriers and multiple mobile plan options to choose from, subscribers often feel like they aren’t really sure how much data or how many minutes they really need. For some, no-contract plans may be the best option, especially with the growing population of smartphone users.
Over half of mobile phone users globally will have smartphones in 2018, according to statistics by eMarketer. But as technology has rapidly expanded, cell phone bills have also increased significantly. An article from Forbes states “…according to the Bureau of Labor Statistics, Americans only spent an average of $210 per year on cellular service back in 2001.” When bills were paid back then, that would make the typical monthly bill to be out to about $20 per month. The article states the “average cell phone bill is now more than $63 per month or $760 per year as of 2010.”
YouRoam can help fill in the gaps, especially if you feel like you’re running out of minutes on your existing prepaid plan. Cell phone carriers make money when people go beyond their plans – using more minutes than they actually have, using up the data and sending text messages. In the long run, if cell phones have changed your budget for the worse, switching to another option is as easy as adding in YouRoam to help supplement your existing plan.
But should you really kill your contract and make the switch? Reports say you should, if you’re losing money and your bill is eating into your budget.
According to a Pew Research Center article and report, “owning a smartphone can be a financial burden for some users. Nearly one-quarter (23%) of smartphone owners have canceled or suspended their cell phone service because the cost was too expensive.”
Switching to a mix of a pay-as-you-go plan and using YouRoam to help make more calls at lower rates, may especially make sense if your annual household income is below $30,000. According to the same Pew Research Center study, 44 percent of users in that income bracket discontinued their service at some point. And with 19 percent of people describing their service as a “financial burden,” finding the right plan that doesn’t break the bank can be very important for continuing to stay connected to friends and family.