I haven't had a landline phone at my home for over 6 years. Why? Because I don't need one! It's a total waste of money when I consider that I hate talking on the phone in the first place, and that my cell phone serves all my needs. Why pay for something I will never use?
I'm not alone. A survey conducted late last year found that 16% of households have no landline, and another 13% of households have a landline that is almost never used. All of these consumes are using cell phones instead, of course! Younger and lower-income consumers are more likely to have only a cell phone when compared to other consumers.
Do you feel sorry for the traditional phone companies who are losing our business? I don't. We've been abused long enough. Locally, AT&T has been consistently raising rates and fees for everything under the sun and it's no longer economical to have a landline. So they don't get my money.
Sure, wireless companies are equally as guilty of offering us poor service and high prices too. Then you add on all the early termination fees and mystery charges on your bill, and you realize all phone service providers are in the game to get as much money from you as possible. I'll pay as few of them as possible, thank you very much.
Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.
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