How much does that smartphone really cost you?

Your smartphone probably costs more than you think, according to the this infographic from accountingdegree.com. In 2010, the average smartphone cost $760 per year. Add to that $608/year in accessories, apps, and other costs, so that the average consumer easily pays well over $200 per month just for cell service. I don’t like monthly costs because you pay them, no matter what. Don’t be fooled by deals that give you an iPhone or Galaxy for $99. Over its two-year life, that phone may very well cost you over $2,000. It will lower your bank balance every month.

If can’t survive without a smartphone, then take advantage of discount cell phone providers. They usually use the same facilities as the “name brand” providers.  As for me, I use a stupidphone, er, I mean a feature phone, without any data plan. To get e-mail on the run, I carry an iPod touch, which catches a Wi-Fi signal most places I go.

 

Smartphone or Dinner Infographic

About Mark P. Holtzman

Chair of Accounting Department at Seton Hall University. PhD from The University of Texas at Austin. Worked at Deloitte's New York Office. BSBA from Hofstra University.

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