Squeeze More $$$ Out of Your Cell Phone Bill

$25.30/month for cell phone service.

Want to know how?

Switch to a prepaid cell phone plan.

I may not be able to offer much support when it comes to $6/gallon gas but I can share this tip to possibly lower one of your bills.

First, I know many of you have family plans which makes the cost per line much cheaper than just paying for one line. The image below is for four lines on Verizon. Notice that in the small print, you save $10/month/line by signing up for automatic payments and electronic statements which also makes your life easier. If on a family plan, consider the different plan options. If you have the most expensive plan, do you really need it? Based on these options, you could save $20/month/line by downgrading saving you $80 per month.

Second, for all the people with individual cell phone plans think about where you use your cell phone most of the time. Is it home? Work? Do these places have wifi and are you on wifi most of the time? If the answer is yes, you do not need to be paying for an unlimited plan.

Verizon and other providers offer prepaid cell phone plans which can be significantly cheaper. Verizon´s 5G plan is $40/month but they start giving you discounts after the 2nd month for autopay and an additional $10/month after 10 months bringing your bill down to $25/month.

I use the 5GB plan and have never run into an issue with my data. FYI, I was on an unlimited family plan and was able to take my existing line and transfer it to prepaid by calling Verizon.

With 8.3% inflation and $6/gallon gas in CA, every penny counts. Take a look at your cell phone bill to see if you can squeeze some extra pennies out of this fixed expense.

Disclaimer: I am an educator, not your personal financial advisor. Please make sure to do your own research before moving forward with any actions discussed in this newsletter.

Know that all investments involve some form of risk and there is no guarantee that you will be successful in making, saving, or investing money; nor is there any guarantee that you won't experience any loss when investing. Past performance does not guarantee future performance. Always remember to make smart decisions and do your own research!