Friday, 9 March 2018

The time of the Sim Only Contracts is here!


I have wanted to switch phones for a while now as I realised the benefits of using a Sim only contract. However, I did not like Apple’s iPhone (never liked it due to lack of customization) or the Samsung’s S8 (weird sensor placement). When the S9 was introduced, I was sold… this is a phone which is a step up from my current S7 Edge. Also, primarily because the screen protector was failing, and I didn’t want to buy another one to replace it due to its age. Buying an S9+ was tempting, but it was just too much money to spend for an additional camera (which I would not use regularly), a slightly bigger battery, bigger RAM, and a bigger screen. Also, I didn’t like how far the power button was from my thumb as I held it in my hands.

When the SG retail price came out, I did a bit of comparison and realised that buying a phone outright from Samsung and switching to a Sim only contract was a better deal. Here’s a worksheet for my comparisons…

Given that data is what everyone uses these days and I generally don’t like to call / sms anyone other than Whatsapp (hence I won’t be comparing talk time / SMSs), here are the details of my comparison.

For basic data usage only

Singtel Combo 3
Singtel Sim only
M1 Lite+
M1      Sim only
Starhub XS
Starhub Sim only
Data GB
3
5
3
5
3
6
Contract price
$68.90
$20.00
$42.00
$20.00
$48.00
$24.00
Phone price
$498.00
$1,198.00
$848.00
$1,198.00
$799.00
$1,198.00
Overall price
$2,151.60
$1,678.00
$1,856.00
$1,678.00
$1,951.00
$1,774.00
Price / Gb/ Mth
$29.88
$13.98
$25.78
$13.98
$27.10
$12.32

For low moderate data usage

Singtel Combo 3
Singtel Sim only
M1 Reg
M1      Sim only
Starhub S
Starhub Sim only
Data GB
3
5
4
5
4
6
Contract price
$68.90
$20.00
$62.00
$20.00
$68.00
$24.00
Phone price
$498.00
$1,198.00
$548.00
$1,198.00
$499.00
$1,198.00
Overall price
$2,151.60
$1,678.00
$2,036.00
$1,678.00
$2,131.00
$1,774.00
Price / Gb/ Mth
$29.88
$13.98
$21.21
$13.98
$22.20
$12.32

For moderate data usage

Singtel Combo 6
Singtel Sim only
M1 Reg+
M1      Sim only
Starhub M
Starhub Sim only
Data GB
6
5
5
5
5
6
Contract price
$95.90
$20.00
$82.00
$20.00
$88.00
$24.00
Phone price
$298.00
$1,198.00
$448.00
$1,198.00
$399.00
$1,198.00
Overall price
$2,599.60
$1,678.00
$2,416.00
$1,678.00
$2,511.00
$1,774.00
Price / Gb/ Mth
$18.05
$13.98
$20.13
$13.98
$20.93
$12.32

For high data usage

Singtel Combo 12
Singtel Sim only
M1 Max+
M1      Sim only
Starhub XL
Starhub Sim only
Data GB
12
10
13
15
15
16
Contract price
$239.90
$36.05
$228.00
$40.00
$238.00
$54.00
Phone price
$128.00
$1,198.00
$248.00
$1,198.00
$99.00
$1,198.00
Overall price
$5,885.60
$2,063.20
$5,720.00
$2,158.00
$5,811.00
$2,494.00
Price / Gb/ Mth
$20.44
$8.60
$18.33
$5.99
$16.14
$6.49

For those who just stream videos all day long

Singtel Sim only
M1      Sim only
M1      Sim only
Starhub Sim only
Data GB
35
30
Unlimited
30
Contract price
$62.80
$50.00
$98.00
$119.00
Phone price
$1,198.00
$1,198.00
$1,198.00
$1,198.00
Overall price
$2,705.20
$2,398.00
$3,550.00
$4,054.00
Price / Gb/ Mth
$3.22
$3.33
Unmeasurable
$5.63

As you can see, with the introduction of Sim only 12-month contracts from major telcos, you have a better option to save money over the long term. Granted you must recontract every 12 months instead of the usual 21-24 months, the savings are substantial. I won’t be comparing Circles Life or Zero Mobile or My Republic in this post but you can compare their prices with the prices above to make your own judgements. Hope you guys enjoy what you see. Do let me know if there are any discrepancies in the numbers.

Investing Wolf 
Disclaimer: This is not a recommendation to buy or sell any mentioned stocks or securities in this blog. The above is all my own opinion and no one else’s.


6 comments:

  1. Thanks ! Great work. Just in time :-)

    ReplyDelete
  2. You have left out Circle.Life no contract plan. 6GB for $28.

    ReplyDelete
    Replies
    1. Yes Formula1, I left out Circle Life because for 6Gb you are better off getting just the Starhub Sim only for just $24. Also, I'm not sure if Circle.Life has a network speed compared to the rest of the Telcos.

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  3. Considering I can recontract at 20 months with M1, and with corporate discount of 30%, I still save $100-200.
    If I don't need the phone, I can recontract and sell off for another $100-200 extra.
    Lastly, the monthly bill counts towards credit card rebates.:)

    ReplyDelete
    Replies
    1. Thanks for your comments.
      1) For most of the plans, recontracting in 20 months with a CIS of 30% does not save you >$50. E.g: Comparing the following 5Gb plans from M1:
      - M1 Reg+ for ($82-30%)x 20 months + $448 phone = $1596
      - M1 Sim only ($20)x 20 months + $1198 phone = $1598
      So an apples to apples comparison with the same time frame does not yield much difference and would only be more worthwhile if you recontract every 20 months without fail.

      2) This is kind of a funny thing to bring up... Buying a "subsidised" phone from telcos actually means you are dividing the price of the phone into the plan's contract period. If you don't need the phone and you do a normal recontract and sell it off, you are in fact losing more money simply because you are selling off a phone now while still paying for it with your monthly bills. With the Sim only plan, you do not even have to buy the phone in the first place. Hence you save more than those who gets the "subsidised" phones from telco.

      3) I'm not sure what rebates you will earn using which cards but I'm sure the amount is not gonna be very significant as well. Simply because using both methods, you can also apply rebates:)

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