I was looking back at cell phone plan today and noticed something funny about how I kind of lost money over it. No, it wasn’t due to me getting charged extra or anything like that. Funny enough, it has to do with not renewing a contract which kind of cost me almost $300 in this case. Back in 2014 my 3 year contract was up and I was up for a renewal. I didn’t know if I should stay with the carrier or not at the time as the quality wasn’t the best but it got the job down while being way cheaper than the other options. So, I just kept my options opened.
Reflecting back on it today, it’s been almost two years already since that day which means I should have just renewed the contract in this case as I have stuck with the same company since then. That would have gave me a $300 credit on my account to be used on any device and this year I could have gotten another if I wanted to. It’s kind of hard to predict too as the scenario could have easily been the other way around where a new killer deal came up with a different carrier and I would be saying how great it was to wait.
I suppose though for things like your telecom and utility type of services we don’t often change these things much in terms of the carrier and provider. A one or two year deal isn’t that bad overall considering odds are you are going to stick with them. In my case anyways, I could have gotten quite a bit. If anything, maybe looking for even yearly terms would be a good idea if you are just on the fence.