There's no doubt that your cell phone bill can feel like a constant money pit. It can be even worse for people who upgrade their phones to the latest and greatest every year or two. This habit, which many believe is necessary to keep up with tech trends, can actually cost you hundreds of dollars. If you can stick to one phone for a couple years, or even just wait until your current device is paid off before you upgrade, you could save a bundle.
When you decide to jump from a carrier like T-Mobile, you can trade in your old device to wipe away the remaining balance and start fresh with a new one. However, if you forget to pay the final cost or get distracted in the hustle and bustle of changing providers, it's easy for that balance to slip your mind. If you don't pay it, T-Mobile can report the debt to a credit bureau and send it to collections. This is why it's so important to make sure you know how much do i owe on my phone before you decide to change carriers.