The $14,000 Rotary Phone

by andy h on September 21, 2006

I recently read an AP article about an elderly lady who had been leasing a rotary phone for 42 years from the phone company. She had paid $14,000 over that time to lease the phone. According to the article there are still 750,000 people who lease their phone from the phone company. The lady in the article was paying $29.10 a month. Since you can easily find a more modern phone at Wal-Mart for less than that leasing is not a smart option.

I imagine most people who read this blog probably aren’t leasing their phones. However, you should always be aware of the money you are spending to make sure you’re not mindlessly wasting money.

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