smart spending

6 reasons not to buy smartphone

Smartphones can wreak havoc on your budget
Smartphones can wreak havoc on your budget

There's a significant acquisition cost when buying a smartphone, as they're all varying degrees of pricey. But the bucks don't stop there -- data plans are increasingly expensive.

"Data becomes such a huge part of the package that a lot of people might prefer to just pay for a voice plan and say, 'I do not want any part of that data access because it is getting too expensive,'" Stein says.

While talk is cheap, literally -- who wants to talk on a phone these days? -- data plans get expensive, and they're somewhat redundant. The average U.S. household has 5.7 devices connected to the Internet, according to a March 2013 report from NPD Group, a global market research company. There are now more than a half-billion devices in U.S. homes connected to the Internet.

One option for consumers: Get a simple phone and a tablet with a cellular package.

"Those often cost less, and you can choose to turn it on and off. That way, you can sort of connect as much as you want, but then your phone is not the thing that is carrying all of that burden," Stein says.

advertisement

Show Bankrate's community sharing policy
          Connect with us
MORTGAGE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed, 0 point 4.30%  0.05 4.25%
15 year fixed, 0 point 3.29%  0.03 3.32%
5/1 ARM 3.45%  0.18 3.63%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.38%  0.08 4.46%
50K FICO-based HELOC 4.11%  0.06 4.17%
100K FICO-based HELOC 3.96%  0.03 3.93%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.73%  0.02 2.71%
48 month used car loan 2.97%  0.05 2.92%
60 month new car loan 3.22%  0.05 3.17%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.91%  0.01 0.92%
2 Year CD 1.08% --0.00 1.08%
5 Year CD 1.74% --0.00 1.74%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.67% --0.00 15.67%
Cash Back Cards 16.36%  0.01 16.35%
Low Interest Cards 10.87% --0.00 10.87%
 
Next
advertisement
FRUGAL NEWSLETTER

Discover new ways to cut costs and save more every day. Reduce your spending, not life’s pleasures. Delivered weekly.

advertisement
Partner Center
advertisement

Connect with us