Hi! This is just a quick "make sure my reasoning isn't wrong" question. Thanks for taking a second.
I want a cheaper cell phone bill, so I'm switching to Republic Wireless. The question is when. If I cancel my line on a Family Share Plan with Verizon as of Dec. 1, here are the costs:
$299 for a phone
$45 for a case/shipping
$180 early cancellation
$150 earned for selling my iPhone
$25 per month for the new contract
$68 per month now (1/3 of the family plan)
So.... By my calculations, I break even in July, which happens to be the month my Verizon contract can be cancelled without a fee. So why not wait until July? Because (this is where I need checked) I would still have to put up the $299 + $45 for the phone, etc and chances are my iPhone 4S would lose at least $50 in value, if it was even still salable at that point. So technically, it would take me minimum 5-6 months to break even from the start-up cost, so I wouldn't really be saving anything until Jan 2015.
So, by paying the cancellation fee and starting next month, I can start seeing a savings in July 2014 rather than Jan 2015. Is this logic correct? Am I missing something?
Thank you!!