I'm about to be a single mom, moving out and trying to cut costs, and came up with this scenario. Currently, I have:
Cell phone: ~120 a month (I know this is crazy, it was a snap decision I have come to regret greatly!)
Internet: $50 a month (I only pay for internet, no home phone or TV)
I'm thinking about paying the early termination fee on my cell and changing to :
Prepay cell phone: 25-30 a month (no contract)
Internet & Home phone: $50 a month (special price, only lasts a year, but I can probably keep getting deals if I call and threaten to cancel.)
Keeping in mind the cancellation fee of $200.00 for the cell contract
So, I'd go from monthly internet/phone expenses of $170 down to $75-80, a savings of $90-95 a month-it will take just over 2 months to break even from the cancellation fee and start actually saving that amount a month.
Am I missing anything? The prepay cell would be mostly just for emergencies, and then I would use the home phone for "chatting." I can also use the prepay phone for internet at home or some public places by jumping on the wireless network so that I don't get extra charges for data.
What do you think?