I am so, so sick of the way U.S. wireless carriers totally rip off smartphone users by locking them into expensive 2-year contracts — with the lure of getting a high-end smartphone for only a couple hundred bucks up front. For most customers, the math just doesn’t work.
So I’m casting off the financial and technological shackles, to be a mobile consumer on my own terms. I will never again buy a subsidized phone or sign another long-term carrier contract.
This month I bought an unlocked Nexus 5 smartphone direct from Google, and I’m now switching to my first no-contract plan. Yes, I paid more up front for the phone, Plus I’ll have to pay a hefty “screw you” early termination fee to ditch my Verizon contract. It’s still so worth it.
Why? Here’s the short version: Considering all costs to make this switch, and the savings I’ll get, I’ll see about a 4-month payback plus savings of nearly $70/month thereafter! Plus I’ll have tons more flexibility in devices, carriers and plans from here out.
Hell yeah! Here’s the math behind this choice… Continue reading