How to Save Money on Cell Phone

By Mentor Staff | Edited By Mentor Staff

Updated On November 1, 2021

Editorial Note: This content is based solely on the author's opinions and is not provided, approved, endorsed or reviewed by any financial institution or partner.

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How can I lower my cell phone bill? It’s one of the number one financial questions about saving money, and the answer is easier than you think.

Everyone wants to know how to lower your cell phone bill, and here’s how.

Here are 6 ways to reduce your cell phone bill:

Top Picks For Student Loan Refinancing

December 2022

Variable APR ?APR, or Annual Percentage Rate, is the price you pay to borrow money. Variable APR means that your interest rate can fluctuate over time, which can increase or decrease your monthly student loan payment. Typically, a variable-rate loan has a lower introductory rate than a fixed-loan rate loan. Variable APR includes a 0.25% discount when you enroll in autopay.
Fixed APR ?APR, or Annual Percentage Rate, is the price you pay to borrow money. Fixed APR means that your interest rate will always stay the same. Even if interest rates change, your interest rate or monthly payment will not. Fixed APR includes a 0.25% discount when you enroll in autopay.
APR
4.49% - 8.99%
4.49% - 8.99%
4.49% - 8.99%

View Details

on SoFi's website

Overview

Variable APR:
4.49% - 8.99%
Fixed APR:
4.49% - 8.99%
Minimum Credit Score:
650
Minimum Income:
None
Fees:
None
Minimum Loan Amount:
$5,000 ($10,000 in CA)

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5, 7, 10, 15, 20 years
Borrower Residency:
All states
Hardship Deferment:
Yes
Co-signer Option:
Yes
3.99% - 8.29%
4.39% - 8.99%
3.99% - 8.99%

View Details

on Earnest's website

Overview

Variable APR:
3.99% - 8.29%
Fixed APR:
4.39% - 8.99%
Minimum Credit Score:
650
Minimum Income:
None
Fees:
None
Minimum Loan Amount:
$5,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5-20 years
Borrower Residency:
All States except NV
Hardship Deferment:
Yes
Co-signer Option:
No
3.99% - 8.29%
4.39% - 8.99%
3.99% - 8.99%

View Details

on NaviRefi's website

Overview

Variable APR:
3.99% - 8.29%
Fixed APR:
4.39% - 8.99%
Minimum Credit Score:
650
Minimum Income:
None
Fees:
None
Minimum Loan Amount:
$5,001 ($10,001 in CA)

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5-20 years
Borrower Residency:
All States except NV
Hardship Deferment:
Yes
Co-signer Option:
No
3.53% - 7.24%
4.83% - 7.64%
3.53% - 7.64%

View Details

on ELFI's website

Overview

Variable APR:
3.53% - 7.24%
Fixed APR:
4.83% - 7.64%
Minimum Credit Score:
680
Minimum Income:
$35,000
Fees:
None
Minimum Loan Amount:
$10,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5, 7, 10, 15, 20 years
Borrower Residency:
All States
Hardship Deferment:
Yes
Co-signer Option:
Yes
2.50% - 8.65%
3.99% - 8.49%
2.50% - 8.65%

View Details

on Splash's website

Overview

Variable APR:
2.50% - 8.65%
Fixed APR:
3.99% - 8.49%
Minimum Credit Score:
640
Minimum Income:
None
Fees:
None
Minimum Loan Amount:
$5,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5 – 25 years
Borrower Residency:
All states
Hardship Deferment:
Varies
Co-signer Option:
No
5.09% - 11.67%
5.39% - 11.87%
5.09% - 11.87%

View Details

on Citizens' website

Overview

Variable APR:
5.09% - 11.67%
Fixed APR:
5.39% - 11.87%
Minimum Credit Score:
Not disclosed
Minimum Income:
$24,000
Fees:
No prepayment or origination fees
Minimum Loan Amount:
$10,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5, 7, 10, 15, 20 years
Borrower Residency:
All states
Hardship Deferment:
Yes
Co-signer Option:
Yes
2.50% - 6.80%
4.49% - 6.90%
2.50% - 6.90%

View Details

on Laurel Road's website

Overview

Variable APR:
2.50% - 6.80%
Fixed APR:
4.49% - 6.90%
Minimum Credit Score:
660
Minimum Income:
None
Fees:
None
Minimum Loan Amount:
$5,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5, 7, 10, 15, 20 years
Borrower Residency:
All States
Hardship Deferment:
Yes
Co-signer Option:
Yes
3.27% - 6.87%
3.99% - 10.68%
3.27% - 10.68%

View Details

on LendKey's website

Overview

Variable APR:
3.27% - 6.87%
Fixed APR:
3.99% - 10.68%
Minimum Credit Score:
680
Minimum Income:
$24,000
Fees:
None
Minimum Loan Amount:
$5,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5, 7, 10, 15, 20 years
Borrower Residency:
All states, except ME, ND, NV, RI, WV
Hardship Deferment:
Yes
Co-signer Option:
Yes
-
3.94% - 9.08%
3.94% - 9.08%

View Details

on ISL's website

Overview

Variable APR:
-
Fixed APR:
3.94% - 9.08%
Minimum Credit Score:
670
Minimum Income:
None
Fees:
None
Minimum Loan Amount:
$5,000 ($10,000 in CA)

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5, 7, 10, 15, 20 years
Borrower Residency:
All states, except OR and ME
Hardship Deferment:
Yes
Co-signer Option:
Yes

1. Lower your cell phone bill by changing your cell phone plan

It’s easy to sign up for cheap phone plans, and then never review the fine print. With taxes and fees, those cheap cell phone plans can become more expensive. So, it’s time to review your usage so you can lower your cell your phone plan.

Your cell phone plan is driven by the number of lines and your data usage. To lower your cell phone bill, analyze your data usage for the past 3-6 months. Are you using all your data? If you can find ways to lower your data plan, you can lower your cell phone plan.

Also, assess whether you have exceeded your data usage and are paying monthly overages. Alternatively, you can choose an unlimited data plan so you are not paying overage fees on a per gigabyte basis.Finally, cell phone plans change. To reduce your cell phone plan today, you can’t rely on the cell phone plan you signed up for three years ago. Your usage changes – and do cell phone plans. So, update your cell phone plan to your current needs to lower your cell phone bill.

2. Change your billing address to lower your cell phone bill

Another strategy to reduce your cell phone bill is to change your billing address. It sound so simple, but it is one of the most overlooked ways to lower your cell phone bill.

The taxes and fees, including regulatory costs, that are you are charged are based on where you live. It is easy to update your address to lower your cell phone bill. Simply log into your cell phone account, and change your billing address in your user profile.

3. Increase the number of lines to reduce your cell phone bill

When you add more lines, the absolute monthly cost will increase, but you will save money on a per line basis. The key with sharing lines is that you share data. Therefore, you pay more per line, but you really lower your cell phone bill by sharing data across cell phone lines.

4. Avoid international calling plans

Even with cheap phone plans for calling internationally, you are probably overpaying. An easy way to lower your cell phone bill is to use mobile apps such as WhatsApp that allow you to chat and speak for free all over the world. There are many apps that allow you to do chat and speak globally for free. You can also see if Skype will help you lower your cell phone bill if Skype’s calling rates are lower than your cell phone company’s rates.

5. Review your insurance plan to lower your cell phone plan

If you think you already have one of the cheap cell phone plans, make sure you review your insurance plan. Insurance can help you save money if you lose or damage your cell phone. So for a small fee per month, insurance can save you hundreds of dollars if you lose or damage your phone.

The key to insurance, however, is not to over-insure your cell phone. You can reduce your cell phone bill by avoiding premium insurance plans and warranties that may already be covered in the basic insurance plan. You should also analyze whether premium insurance offerings are worth the annual cost to maintain, even if you do lose your phone because it can really hurt your cell phone bill.

6. Go paperless and sign up for autopay to reduce your cell phone bill

If you want to lower your cell phone bill, go paperless and sign up for autopay. Many cell phone companies will reduce your cell phone bill when you enroll in autopay and/or sign up for paperless billing. Plus, with paperless, you will help save the environment.

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