Enter the contract length, phone price, and monthly bill into the cell phone plan calculator. The calculator will return the total cost of the plan over its lifetime.
Cell Phone Plan Formula
The following formula can be used to calculate the total cost of a phone plan.
TC = PP + MB * CL
- Where TC is the total cost of the phone plan
- PP is the price of the phone
- MB is the monthly bill
- CL is the contract length
To calculate the cell phone plan cost, multiply the monthly bill by the contract length, then add the price of the phone.
How to calculate a phone plan cost
- First, determine the price of the phone
If the price of the phone is included in the monthly bill, leave that section blank and ignore this step.
- Next, find out the length of the contract
This will be the total contract length of the cell phone plan.
- Next, find of the monthly bill
Sometimes the price of the phone is included in this monthly bill and other times it is not.
- Finally, calculate the total cost.
Use the formula above to calculate the total cell phone plan cost.
FAQ
What factors should I consider when choosing a cell phone plan?When choosing a cell phone plan, consider factors such as the monthly cost, the amount of data provided, coverage area, whether international roaming is included, and if any additional fees may apply. Also, consider if the plan fits your usage habits for calls, texts, and internet browsing.
How can I reduce the cost of my cell phone plan?To reduce the cost of your cell phone plan, consider options such as joining a family plan, opting for a plan with less data if your usage is low, taking advantage of discounts offered by your employer or organizations you’re a member of, or switching to a prepaid plan which often comes with lower monthly fees.
Is it better to buy a phone outright or include it in the monthly plan?Buying a phone outright can save you money in the long run, as it often comes without interest or financing fees that can add up over time. However, including a phone in your monthly plan can make it more affordable by spreading the cost over the contract period. Consider your financial situation and preferences to decide which option is better for you.
