Need to cut costs everywhere I can, what are my options?

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  • Updated 12 months ago
My room mate has unexpectedly turned in a one month notice, so I need to dramatically cut costs everywhere I can think of. I'm presently a full time student on disability and while I'm hoping to start working the moment I graduate that won't be for a few months still.
Right now I'm not even making 1k a month, and my mother is financially unable to help me.

I was therefore wondering how I might adjust my phone bill costs.
I'm presently on the $40 plan (plus $15 tab fee and tax amounting to roughly $62/month) and had recently switched in my phone, as my former was no longer working properly, and so the tab balance is -$280.

As I understand it I can either break my contract or pay off my tab in full, but I'm uncertain as to the process for these options and their costs.
Ideally I would like to switch to a much cheaper pay-as-you-go plan with a more inexpensive phone.
If it makes any difference I have been a customer for a couple years now, and have consistently paid my bill on time.
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Posted 12 months ago

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Timo Tuokkola, Mobile Master

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In order to switch to prepaid you would need to pay off your remaining tab balance, which would be $280 plus tax. You can then visit your local koodo shop and tell them you would like to port your number from postpaid to prepaid. You will need to buy a prepaid sim card for $25, but will receive a $25 credit on the account which you can use to either pay for your monthly plan or add talk time/data boosters. There are no penalties for porting your number to prepaid, but depending on where you are in your billing cycle and how many minutes you have already used that month there might be some overage charges for the final month of service.
The phone is yours to keep, but if you wish, you could sell it yourself to offset the cost of paying for the tab. Our you can use it on prepaid. It's up to you.