We rely on our smartphones for practically everything these days, like staying in touch with loved ones & getting the news. While they make our lives easier, they also cost us a lot. So, let’s look at eleven ways your smartphone is more expensive than you bargained for. It’s time to improve your financial health.
Featured Image Credit: tweek/Depositphotos.com.
Data Overages
Streaming and browsing without monitoring your data usage can result in nasty surprises on your phone bill. If you don’t have an unlimited plan, the extra charges for going over your data limit can add up quite a bit. You may not see these charges coming until it’s too late. So make sure that you check them out.
Mobile Banking Misuse
While having your bank at your fingertips is convenient, it can also make it way too easy to spend money without thinking it through. After all, you can transfer money for an impulse buy with a tap of your finger! Mobile banking encourages us to be too loose with our finances—so keep a close eye on your spending.
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Social Media Influence
Social media also makes us want to spend more. Seeing everyone’s fancy vacations, new gadgets & fancy meals out gives us some serious FOMO (fear of missing out), which makes us buy things to keep up. You might not even realize that this pressure exists—but it’s definitely there.
Costly Upgrades
Smartphones aren’t cheap. Sadly, new models come out all the time and it’s quite tempting to buy the latest & greatest. But constantly upgrading to the newest phone drains your savings since you’re stuck on a never-ending treadmill of spending. Just ask yourself—is the upgrade really worth it?
App Ecosystem Lock-in
Once you’ve bought a bunch of apps & games for one type of phone, switching to another kind makes you feel like you’re throwing money away. You can’t transfer iPhone purchases to Android! Essentially, you’re locked into that ecosystem and that often involves spending more to stay with what’s familiar.
Overreliance on Smart Solutions
Our phones allow us to connect to so many smart devices & services, like smart home gadgets and ride-sharing apps. And while this is convenient, you might start spending more each month buying smart products that you can control with your phone. But really, you probably don’t need or even use them that much.
Roaming Charges
Traveling abroad without the right plan is more expensive than most people realize, thanks to roaming charges. These charges mean that any calls, texts & data use will cost you quite a lot. It’s an easy mistake to make—and it’s one that can turn a relaxing trip into something far more stressful.
Battery Replacements and Repairs
Remember when your phone couldn’t hold a charge for more than 20 minutes without dying? Or when your screen cracked after a minor fall? Getting these issues fixed costs a lot, especially if you’re out of warranty. Waiting too long to get them repaired isn’t usually an option because we’re practically tethered to them.
Premium App Versions
Free apps are great—until they’re not. Many apps have a basic version for free but keep the best features locked behind a premium version, which makes it easy to be tempted to buy it. Eventually, you’ll subscribe to the premium version of multiple apps. This creates monthly fees that add up quickly.
Cost of Accessories
Have you ever stopped to think about how much you spend on phone accessories? Whether it’s protective cases or portable chargers, the cost of these can be quite high. Even the one-time purchases are ones you’ll need to replace in the future due to wear & tear. It’s rather expensive in the end.
Cloud Storage Fees
Since we have high-res photos & videos on our phones, their storage can fill up relatively fast. That’s when cloud storage services come to the “rescue.” They’ll give you extra space…for a monthly fee. While it starts small, as your storage needs grow, so does the cost—before you know it, you’re paying a not-so-small monthly fee just to keep all your digital stuff somewhere.
Disclaimer: This list is solely the author’s opinion based on research and publicly available information.
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