So many of my budget clients have large cell phone bills. When we take a look at the bill, we see that their children’s cell phones are bundled into their bill. More often than not, the practice started when their kids were still dependents. Yet the parents keep on paying.
I always push back on this. Maybe it’s because I don’t have kids, so I haven’t faced cutting them off myself. Maybe it’s because I’ve been financially independent from my parents since I got out of college 40 years ago. I do know that times are different now but I don’t understand why otherwise independent adults aren’t paying for their own phones.
Particularly if money is tight for you and your kids are gainfully employed, I’m going to encourage you to tell them that you’re no longer paying that bill. (And even if you have plenty of money, I encourage you to cut them off if this is the last vestige of their dependence.) I know you might think you’re getting a better deal by bundling multiple lines. But it’s not a deal for you if you’re paying for it.
You can take a look at your bill and explore your options. What would it cost you and your offspring if the phones weren’t bundled? You may be surprised to find that there aren’t huge savings. (That was the case when my husband retired and stopped having a company phone. It was actually less expensive for him to get his own account.)
If you do discover that your kids will save money if you’re paying for their phones, then ask them to reimburse you. But don’t expect them to remember to do it (after all, they’ve probably never had a cell phone bill before). Send them a Venmo or PayPal request each month for what they owe you. If you set a YNAB target and just fund your part of the bill, that orange or red bubble will remind you that you need reimbursement. But if your kids have plenty of money for their living expenses, you can make your YNAB life easier by taking them off your bill, even if it means they end up paying a little more.
If your child is paying for all his or her other living expenses, why continue to pay for this one? I urge you to pull out your phone bill and do a little math. And then consider where in your budget could you assign that money.
Leave a Reply