This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

10 Ways a Smartphone Drains Your Wallet

BOSTON ( MainStreet) -- Glued to ears and palms, smartphones have become a ubiquitous possession. Always on and always available, they mean consumers have access to apps, websites and services no matter where they roam.

It is a huge business that has created a war for market share among those who make operating systems ( Apple (AAPL - Get Report), Research in Motion (RIMM), UMB Financial (GOOG) and Microsoft (MSFT - Get Report)), sell hardware ( Motorola (MOT), Samsung, LG, Nokia (NOK - Get Report) and Ericsson) and broker in connectivity ( Sprint (S), Verizon (VZ - Get Report) and AT&T (T - Get Report)).

Beyond data plans and surcharges, your high-tech phone could be depleting your bank account.

Anyone who has bought a smartphone is well aware of what their mobile device cost then, and what it costs to keep the data flowing.

But some costs may not be as easy to quantify or recognize. The upfront cost and ongoing fees are just the beginning of how this growing technology is shrinking your checking account. The following are 10 ways your smartphone addiction is costing you:

Phone envy
First, perhaps no other product niche inspires buyer remorse as regularly and quickly as smartphones.

Almost immediately after purchase you'll seem to start hearing about upgrades and even better models that make your phone feel outdated. Have an iPhone 4? Well, get ready to hear all about the new, Holy Grail-like iPhone 5 right around the corner. RIM will seem to announce a new BlackBerry as soon as your company issues one. Your HTC will feel DOA once you hear about the better processor and abundant features that could be yours.

In reality, your "old" phone is probably just fine for what you use it for. But the lure of a bright and shiny new toy is enough to get many to shell out hundreds of dollars and switch carriers almost annually.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $129.38 0.22%
AMZN $384.62 -0.27%
EBAY $58.25 -0.22%
GOOG $573.65 0.40%
NOK $8.07 -0.12%

Markets

DOW 18,203.37 -85.26 -0.47%
S&P 500 2,107.78 -9.61 -0.45%
NASDAQ 4,979.9010 -28.1950 -0.56%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs