We should be honest with one another. The economy is still tough for a lot of Americans. I am a millennial journalist and stress over making sure my bills are paid on time – while saving enough money to make sure I can eat. This is coming from someone in a fortunate situation – there are millions struggling far more than myself.
Many live in a dire financial situation where they have to make prudent decisions to ensure their families are taken care of. In a digital society, cell phones have become a staple in the modern home. Current data shows 77% of adults living in the United States own a smart phone with approximately 95% owning a cell phone of some sort.
Unfortunately, the number of cell phone owners in the United States has not caused a reduction in the price of phones nor does it mean consumers are free from overpaying for the services they receive from mobile carriers.
SOLUTION: How T0 Save Money On Your Cell Phone Bill
Major mobile providers constantly produce commercials in which they take blows at their competitor’s prices – often promising to save new costumers a ton of money (with a number of restrictions after reading the fine print). Unsurprisingly, these repetitive ads really don’t provide consumers with the information they need to make an informed financial decision nor do they disclose the plethora of hidden fees that may arise on customer’s monthly bill.
As many as half of all American cell phone users pay too much for an unlimited data plan they don’t need offered by the big 4 mobile phone carriers. The average American uses less than 5GB of data per month, but the big 4 carries have eliminated most of their plan options and driving more people to unlimited data plans, which many people do not need.
The hypercompetitive situation between the four big cell providers – Sprint, T-Mobile, ATT, and Verizon — has driven down costs, but it’s also eliminated many of the very low cost plan options from the plan offering of the big 4 carriers. Consumers would do well to remember that there are also over 100 smaller providers, called MVNOs, in the United States that still offer a huge variety of plans ranging from just a few dollars per month. Wirefly is a site where consumers can compare every provider to find the best plan for them, no matter their criteria. In a time where so many Americans adhere to a strict budget, having the ability to select the perfect plan – without having to do hours of painstaking research is a valuable tool.
Time is also a valuable commodity, instead of stressing over the monthly phone bill or spending weeks searching for the perfect plan – these types of services can allow people to spend extra time simply relaxing and enjoying life. Don’t get me wrong, I’m well aware the reduction of a consumer’s monthly phone bill won’t cure all of their financial problems; yet, they can go a long way in helping reduce unnecessary spending.
Other Ways To Save Money
I’m not making the argument that the major providers are in danger of going out of business, that’s far from the reality of the situation. What truly is happening are people having a tool which allows them to make quick and informed financial decisions – which should be the goal of any consumer advocate.
The Wirefly platform also allows for consumers to compare prices on other utilities they use in their daily lives. Whether it’s Internet, satellite and cable TV, home security, insurance, or mortgage rates, the platform contains interactive tools and resources which make the buying decision straightforward and transparent.
The average American simply doesn’t have time to do all the research needed to make the best financial decisions on each of these expenses – especially when workers on average are working over 40 hours weekly. In tough economic times, it’s vital to give the consumer an opportunity to save money on bills as possible. Not only will that result in a natural stimulus for the economy, it also rewards companies who offer hard working individuals fair prices.
Empowering the consumer and allowing them to make informed financial decisions in a timely manner is going to be an important vertical in the near future. Younger generations are interested in investing their capital in companies that are authentic, honest, and make their lives just a bit less stressful.
That’s why companies that are authentic in their presentation have so much potential – they are free of hokey sales pitches, lofty promises, and highly paid celebrity sponsors who aren’t truly invested in the product. With consumers back in control, companies will have to begin being more honest and upfront with the costs of their products.