Paying off tab balance- does it start a new tab (surplus)?

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I have $195 left on my koodo medium tab balance (15/mth) (about a year and a month I believe). I know its a zero interest payment on each, but if I have the means now, should I just pay off my tab. I'm trying to reduce my monthly expenses in general for the next year. I I paid off the tab, would I have to start a new one or would I just be paying my normal bill? 
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Haley Ryan

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Posted 2 weeks ago

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Goran, Mobile Master

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Up to you. You're paying the same in the end. Whether you pay it now and have 15 a month less or leave that money o pay over time.

Inflation decreases it's cost slightly over the two years and you can invest that money in your TFSA. It comes out to a few bucks maybe several if you're lucky over two years but it's money you didn't have before.
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The tab is a zero interest off-the-books loan. You'd be better off applying an extra $15 a month towards credit card or mortgage payments. If those are clear, then the TFSA option makes sense.
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Dinh, Mobile Master

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@Haley: about the question of payment: if you pay off the Tab ($195), then you would  pay your monthly rateplan only. You don't have to start a new Tab, if you don't want to.
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If you pay off your tab now your monthly bill will reduce by $15 a month and you will just be paying your normal bill. You will only start a new tab if you get a new phone.
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Dennis, Mobile Master

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The tab will not go positive for a surplus
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Haley Ryan

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Thanks everyone! Much appreciated!