Let’s take a look at some aspect you need consider when buying a new mobile phone in terms of personal finance. Knowing these 2 simple personal finance tips when buying a new mobile phone can help you identify in which way you can save money.
These 2 tips maybe out of “technical aspects” but can help you in personal finance side and in saving money in the long run. Let’s go.
2 Tips when buying new mobile phone
1. Check postpaid vs prepaid
Postpaid plans are so convenient these days. Giant telco companies in the Philippines offer many different postpaid plans that are really enticing. Most of them come with a handset (mobile phone) and other also come with a tablet or wifi device and so many other freebies.
Before you apply and sign a contract on these postpaid plans, check and examine yourself if you really need it. You can also check this article to see how you’re losing money on your Iphone.
Why do you need to have a postpaid plan? Is that for work or business? Or just for convenience? Whatever your answer is, you and only you can only justiry the truth.
You also have to bear in mind that you’re going to pay that postpaid plan in a couple of years. Do you have the capacity to pay that in time?
Additionally, some postpaid plans have a certain limit of usage in terms of load and data but WILL NOT give you warning when you are exceeding on the limit. That’s another thing to take note. Remember that getting that postpaid plan just because of the free handset is not advisable if your working on a tight budget or not even build your emergency fund.
On the other hand, if you don’t really need a postpaid plan, prepaid might be the one for you. You just need to purchase your own cellphone or mobile and a prepaid simcard and your done! No monthly payment and recurring cellphone bill.
When you are using prepaid, you can “control” the usage of your load or data services because you have to buy credits first in order to use them. You can also subscribe to a lot of prepaid promos available today in all of the different telcos.
You can save money on cellphone bill when you’re on prepaid. You also don’t need to worry about exceeding limit of usage since you can only use what load credits you purchased.
Whatever type of plans you opted, make sure you choose the best that suit your needs. You can save money on monthly phone bill every month when you chose the correct plan for you.
2. Compare Providers
Here in the Philippines, we have different telcos offering different kind of affordable offers regarding people’s mobile phone needs. From postpaid plans to prepaid, you have a list of options that you can choose from. Subsidiary of giant telco company usually offer lower rates and more promos.
In fact, me and my wife using prepaid. We’re just spending P200.00 each every month with 4 hours of call and unlimited text plus 1000 text to other networks. That’s a huge savings for us instead of getting postpaid plans.
You may compare products from different providers and choose which one is best for you. Do not just stick with the prices and promos, customer service, signal strength in your area and other things also need to consider.
Take time to check the advantages and disadvantages of each to see which is the best provider for you. See 8 tips how to save money of cellphone bill here. By comparing pros and cons of the telco providers, you can save money on mobile phone bills in the long run.
These are the 2 simple personal finance tips I can share when buying a new mobile phone. These maybe basics and very obvious but I’m hoping this can help and remind others.
What do you think? If you have something to add, please share them on the comment section below. Cheers!