A new report was recently released, revealing that Americans spend an average of $1,342 per year on mobile phone services, up 5% from last year. But in Plano, residents are spending even more.
According to a report by doxo, the annual expenditure on mobile phone services by Americans amounts to approximately $175 billion in total. The results revealed that 94% of U.S. households with a mobile phone bill allocate $119 per month or $1,428 per year, averaging $1,342 annually across all U.S. households.
But Plano residents spend $240 per month on mobile phone services, 101.7% higher than the U.S. average. The data also showed the average Plano resident spends $2,631 per month on all household bills combined.
In Plano, the data revealed that the average Plano household spends $31,571 annually on the ten most common household bills. This positions Plano as the 27th most expensive city in Texas. In comparison to the national average of $2,046, the cost of living in Plano is 28.6% higher, and it is 24.7% higher than the state average of $2,110. Plano households allocate 32% of their income towards household bills.
Amidst ongoing inflation affecting various aspects of American life, a recent survey by Whistle Out found that over half of Americans (56%) are willing to consider changing service providers as a means to cut costs.
But why are residents continuing to pay these outrageous prices? The survey showed that many don’t want to explore cheaper options, opting to use one of the big three companies (Verizon, AT&T and T-Mobile).
So how can you save money? Don’t pay for what you don’t use. Most Americans utilize less than 15GB of data per month but subscribe to unlimited plans. This implies that they are paying for data they don't actually use, leaving over $50 per month on the table.
Users can also save money by switching to a smaller company. Approximately 62% of Americans have a mobile phone plan with one of the three major carriers. When examining individual carriers, only T-Mobile offers plans under $160. On average, plans from the big three carriers amount to $169 per month, inclusive of taxes and fees.
If all individuals in the U.S. currently on a major carrier plan were to switch to a provider that operates without owning the underlying wireless network infrastructure used to deliver services to its customers (MVNO), such as Mint Mobile. The potential annual savings could exceed $261.36 billion.