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Should we pay it off?..

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hollibobs_2
hollibobs_2 Posts: 51 Forumite
edited 24 June 2014 at 5:00PM in Debt-free wannabe
Afternoon all :) just a quick question...

Hubby has an ee contract which has gone up to £49 a month :eek:

To get out of this contract will cost approx £600, we plan to go onto a pay monthly sim at around £12 a month.

We have £1700 of savings, is it a good idea to pay this off out of the savings or hold fire for a couple of months...

Any advice would be great, thanks


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Comments

  • gardner1
    gardner1 Posts: 3,154 Forumite
    why not just wait till contract ends....why give them £600
  • hollibobs_2
    hollibobs_2 Posts: 51 Forumite
    The contract ends nov 2015
  • gardner1
    gardner1 Posts: 3,154 Forumite
    is this a mobile phone/broadband contract.....don't you have a right to cancel free of charge if there is a big price increase
  • hollibobs_2
    hollibobs_2 Posts: 51 Forumite
    We have no right to cancel as contract taken out November last year, it states that it will increase each year.

    It was just an idea I wanted to sound out.
  • stevemLS
    stevemLS Posts: 1,067 Forumite
    How much was it before it went up to £49
  • hollibobs_2
    hollibobs_2 Posts: 51 Forumite
    It was about £47 I think . :)
  • Monkeyballs
    Monkeyballs Posts: 1,935 Forumite
    Part of the Furniture Combo Breaker
    Hi,

    No just stick with the phone until the end of the contract (try speaking to EE about a possible step down, sometimes available after 6 months) there is no point in paying to get out and then paying more on top for effectively the same service...

    MB
  • Muhren
    Muhren Posts: 1,705 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    hollibobs wrote: »
    It was about £47 I think . :)

    Keep it, why would you want to pay it off and then have to pay again for a similar service just because it has gone up £2 a month?
    LBM: Dec 2012 - Debt £38,180/ Now £0.
    DFD - 17/04/2016
    Gambling: The sure way of getting nothing from something.

  • hollibobs_2
    hollibobs_2 Posts: 51 Forumite
    It was about saving money each month that's all as I said we only sounding out the ide
  • Muhren
    Muhren Posts: 1,705 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I'm not having a go I just didn't see the logic in paying it off that is all.
    LBM: Dec 2012 - Debt £38,180/ Now £0.
    DFD - 17/04/2016
    Gambling: The sure way of getting nothing from something.

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