WASHINGTON -- Sprint (S) has unveiled a plan that gives subscribers access to unlimited data for $60 a month, the industry's cheapest unlimited data offering as the carrier attempts to reverse the decline in its subscriber base.
Wireless carriers have been going after each others' subscribers as they try to increase revenue in a nearly saturated market.
Sprint's new offerings are $20 cheaper than T-Mobile's unlimited plan and are available to new and existing customers who bring in their own cellphone or pay full price for a new one.
The announcement comes just hours after rival T-Mobile US (TMUS) launched a campaign to lure subscribers away from other carriers. If an existing customer is able to persuade a subscriber of another carrier to switch to T-Mobile, both will get upgraded to an unlimited data plan for free for one year.
Earlier this week, Sprint doubled data offerings for customers in family plans, while industry leader Verizon Communications slashed prices for its unlimited talk and text plan.
Price cuts are a top priority for Sprint's new chief executive, Marcelo Claure, as he attempts to turn around a company plagued by customer defections due to a network overhaul that has caused gaps in coverage.
Sprint shares ended Thursday trading up 1.1 percent to $5.56, while T-Mobile shares slipped 1.8 percent to $29.16 on the New York Stock Exchange.
6 Financial Issues to Tackle in the Fall
Sprint Takes On T-Mobile With $60 Unlimited Data Plan
For many employers, open enrollment season for some benefits happens in October. This usually sneaks up on some people, who scramble to decipher benefits and make elections last minute. Although you won't be able to see the options until the enrollment period opens, take time now to review your benefits. Are you taking advantage of any 401(k) matches? Are your fully funding your Flexible Spending Account? What about employer offered life and disability insurance? (A fun infographic from the Council for Disability Awareness shows your risks). Maximize your benefits and don't leave any money on the table.
Back-to-school time can be expensive if you're not prepared. Money is spent on clothes, books, supplies and technology -- and that's before the doors to the classroom have even opened. Before hitting the stores, do these two things:
Conduct an online search for "coupon code" along with the name of any store you'll be shopping at. Typically you can find some great online deals.
Get a list from you class or teacher of specific type of notebook, calculator, etc. required. If you can't get child's "must haves" from ahead of time, buy just the bare minimums until school starts and the list is available.
It's hard to think about the holidays when we're just making it through summer, but now is the time to build up a financial cushion. Set yourself up with an automatic transfer to a separate savings account and participate in the Holiday Fund Money Challenge to build up a savings of $450. How much do you need for the gifts, travel, parties, entertaining, food and other holiday activities you anticipate? Planning will help to ease the stress that comes around the holidays.
In lieu of scrambling at the end of the year to make contributions to retirement accounts by Dec. 31, double-check your contributions now and determine if there's room in your cash flow to allow for an increase to possibly max out by year end.
Summer is a typically a time of transitions. There are weddings, moves to new homes, possibly a new family addition and more. If summer is the time when these events take place, fall should be the time to take stock of how they're panning out. If you're recently married and haven't already, now is the time to have the money talk with your spouse and make decisions about spending plans, merging (or not merging) accounts, beneficiary updates and more. If you've moved, check out how the new location has affected your cost of living spending in terms of activities, gas costs, groceries and more. Ultimately with any transition, you need to review your spending plan and determine what areas (if any) need to be adjusted.
If you're lucky enough to live in one of the states that actually experiences seasons, fall is the time to prep for energy savings by caulking and weatherstripping doors and windows, turning your thermostat back for a fixed period each day and insulating your attic, basement or outside walls.