Is A 5G Phone Contract A Good Idea?

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5G service is slowly being rolled out. Soon, it won’t just be the major cities that have access to super-fast 5G network, which is reportedly 20 times faster than soon-to-be-outdated 4G connectivity. Just like the technology before it, we should expect this to become the norm in the coming years, but is swapping to a 5G phone the best option for you right now?

The Cost Of Changing Over

One thing so many people don’t consider is the cost of switching phone contracts. Typically, you’ll have to pay an early exit fee if you are cancelling a contract midway through. This can be really quite expensive and a cost that a lot of people underestimate. For example, leaving the UK’s most popular network (incidentally, the network that is leading the charge for 5G), will cost you 96% of each month remaining. This means that if you pay the monthly average for your phone at £45.60, you will have to pay £43.77 multiplied by the number of months left in your contract. This can very quickly add up, compiled with the cost of a new handset which might also have an up-front price attached, you could be looking at quite a tight month. It is crucial that you are confident you can afford the changeover, as without proper financial planning you might find yourself reaching for short term loans or other source of emergency finance if you stretch yourself too thin.

The Cost Of A New Handset

As with all the latest technology, 5G-enabled phones are much more expensive than handsets that are not equipped to handle the improved, more advanced technology.  Some of the most expensive and best phones, such as the Samsung Galaxy S20 Ultra with 5G technology can cost as high as £147.50 per month, depending on the parameters of the contract. This is based on a 12 month contract, but there are cheaper alternatives available, depending on the chosen package. This is quite a big financial commitment every single month and could be unrealistic and unachievable for a lot of people. Unfortunately, many people will try to keep up with the latest technology and over stretch their finances, agreeing to a contract that will burst their monthly budget. Make sure you are comfortable with the cost of your new 5G-enabled handset or wait for the prices to settle down.

Is The Internet Service Any Better?

Yes and no. The service providers would have consumers believe that 5G is going to solve all their problems because it has tested at 20 times faster than standard 4G. They feed into the desire for immediate gratification and an on-demand lifestyle, but when you look a little closer, 5G data connectivity is not necessarily quicker or more reliable than 4G. This is because the standard things that inhibit or limit data service, such as concentration of people using the internet or a lot of buildings affecting your access to cell service will not change. 5G is still subject to these issues.

Similarly, if you are looking to change immediately and be the first to rock ultra-fast 5G, you might also experience some teething problems. This includes a lack of connectivity for those in more rural areas, at least until it is wide-spread rolled out.

Are There Any Other Advantages?

Upgrading to 5G as soon as possible is going to cost, quite a lot. However, the service is set to replace home broadband connection because of virtually no-latency lags and a superior connection. This means, you could cut back on some of your other costs.

One of the biggest appeals of 5Gs is it integration with other devices. This includes virtual reality equipment, that when connected with 5G could allow you to chat in real-time and with streaming. It’s also said to be able to be paired with drones for precise control and an improved connection from the video and audio capabilities.

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