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HomeFinance4 Financial Incentives for Using a Prepaid Cell Phone

4 Financial Incentives for Using a Prepaid Cell Phone

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Cell phone companies from across the world have, over the years, promoted the notion that the only way you are going to get a high-quality and safe phone is to simply purchase one of theirs. However, with some new Apple and Samsung phones costing up to $1,000, it’s safe to say that anyone with a budget is not going to be able to afford one. So, does that mean you have to cough up the money? No, and that’s because you do have another option. Prepaid cell phones are great for those who are financially conscious, and here are four reasons why that is the case.

  1. You Don’t Pay for Minute/Data You Don’t Use

One of the biggest downfalls of going with a big cellular network company is having to pay for minutes or data that you know that you are not going to use. For example, if you know that you don’t make that many phone calls throughout the month or are simply signing up for free wi-fi at work, why pay for it? Prepaid cell phones¬†allow you to choose a cheaper plan where the basic functions are provided to you. In some cases, you may even find an unlimited plan that is still cheaper than going with one of the big cellular network brands.

  1. Phones are Much Cheaper to Purchase

As stated above, purchasing a new phone can be extremely expensive. Unfortunately, many believe that they have to pay up because of daily responsibilities such as having to stay in touch with family and their workplace. But, again, this is not always true. If you look at the cost of a new prepaid cell phone, you will see that they are extremely affordable, with some costing as little as $50.

  1. No Credit Checks Needed

Financial savings don’t just come in the form of saving physical cash but also in how your credit score is affected. As you may already know, your credit score can affect how much you end up paying for something such as a car or home. If your credit is already in bad shape, an inquiry by a big brand cell phone company can make it even worse. Fortunately, there are no credit score checks when you purchase a prepaid phone. Simply walk/drive to the store, purchase it, and activate it. No need to speak with any representatives or get intimidated into signing up for a phone upgrade.

  1. No Expensive Contracts or Fees

One of the most common complaints by those who choose to go with a popular network provider is just how expensive their plans are and how hidden fees tend to make it that much worse. A good example involves your decision to leave the network. If you are on a certain plan, attempting to leave it can cost you a pretty penny in fees. This, of course, is not an issue with a prepaid cell phone, as you simply need to stop paying for it if you want to opt out.

As you can see from the information above, there are several financial incentives for using a prepaid cell phone. However, it is highly recommended to conduct research on the various prepaid cell phone companies before settling on one.

Ainjlla Berry
Hello, My name is Ainjlla Berry. I am a professional financial advisor. I work in this field For Six years. I would like to share my knowledge with you.

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