The best way to fund your new phone

mobile phone handsetsIt’s a new year and lots of people are tempted to upgrade their mobile phone. Perhaps you’ve been surrounded by friends and family who’ve had a new handset and you can’t resist getting something shiny and new yourself.

You can almost tell when I’ve got the technology itch so I’m sure it won’t be too long before I’m talking about this in the past tense.

So what’s the best way to handle it? Firstly, think about what your current handset might be worth. Look at the options your current network has for trade-ins, they may offer something reasonable.

Alternatively, if you’re willing to try an independent option, companies like CeX can often provide better deals. I’ve used them myself when buying my current phone. They offered a higher trade-in value for my previous phone than I could get elsewhere.

Then, once you’ve worked out how much you’ll be offsetting the cost of your new phone, decide how you want to achieve it. It’s usually a contract with a modest upfront fee. But when you look at 24 monthly payments for many of the leading handsets that’s easily £1,000. So why were you so offended by paying £700 upfront for the phone and then £240 in £10 a month PAYG? And if that chunk of cash was offset by £100 or more that you got for your old phone it’s starting to look like a sensible option.

Right, I’ve convinced myself. I’m off to go window shopping for more unnecessary, capitalist, commercial vanity.

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