September 12th, 2012
How to Save Money on the iPhone… Lazily
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If you’ve been following the news, you may have heard that Apple is coming out with the iPhone 5. Like the previous iPhones, people will line up around the block and millions will be sold in the first weekend. Most of those people will sign on for 2-year commitment to a cellphone plan that will cost them around $100 a month.
In the interest of self-improvement month, perhaps it’s best to exercise a little frugality and use the savings on an appreciating investment like your 401k, Roth IRA, or even paying off your mortgage early.
I know what you are thinking, “But I love my iPhone. It’s so pretty. I actually use it for lots of useful things and some of them save me money!” Fair enough. Even though I think some Androids give you the same amount of value for the money, we can work to get you a cheap iPhone.
How to Save Money on the New iPhone
Over the last few months a few pre-paid mobile companies such as Cricket and Virgin Mobile have started offering the iPhone 4 and 4S. There are rumors that Boost Mobile will be joining them as well. These lesser known carriers offer consumers tremendous savings. On Virgin Mobile, someone who can get by on 300 minutes will pay only $30 a month if they get an iPhone. The catch is that the iPhone 4 itself will cost between $550 and $650 (depending if you get the S model).
If you opt for the $650 iPhone, the phone and the service will only set you back about $1370 (or $57 a month). Similar plans on Sprint, Verizon, and AT&T can easily run around $2000 or more. I don’t know if the iPhone 5 will be out on available for the pre-paid carriers. If they aren’t available, are the new iPhone 5 features really worth nearly a thousand dollars to you?
The Final Word
Perhaps saving a few dollars a month on a cell-phone plan wasn’t the dramatic self-improvement advice you were expecting today. I am a big believer in making big changes through tiny steps. See what I did there? I snuck in an additional self-improvement tip for you, while being secure enough in my manhood to reference an article on Oprah.com.
If you enjoyed this article and are looking for other painless ways to save money, here’s a list of Five Minute Financial Fixes. You’ll learn how to eliminate the cost of renting your cable modem and your home phone line.
This article was written by Lazy Man and Money, who has been a personal finance blogger since 2006.
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