Do you have the most cost-effective cell phone plan? There are two ways to find out. As noted by personal finance writer Gregory Karp in the Chicago Tribune recently, Validas will analyze one of your actual cell phone bills and recommend a less expensive plan for a charge of $5, or you can enter some info into BillShrink’s site for free and see some money-saving alternatives.
Karp pointed out that sometimes a cheaper plan might not be the way to go, especially if the recommended new provider has poor coverage. To check the coverage of various cell phone companies, Karp recommended CellReception.com.
Neither Validas nor BillShrink considers low-cost prepaid plans, where you buy the phone and then purchase minutes as you need them. The main drawbacks of prepaid plans are that coverage areas may be limited, you won’t get the latest phone, and some services do not offer e-mail or Internet. Prepaid providers include recognized companies like AT&T, Sprint (through its Boost Mobile division), T-Mobile, and Verizon, along with lesser known players like Net10, Tello, and Ting. You can buy phones directly from the carriers or from Best Buy, Wal-Mart, Target, and other retailers.
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