This Mom Gets Four Cell Phone Lines for $65/Month (Without Sacrificing Service or Data)

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Fran DeRosier’s monthly cell phone bill used to cost $359.56.

The Burlington, Wisconsin, mom of four managed seven lines on the family’s Sprint plan: Hers, her husband’s, her four kids’ and her mother-in-law’s.

“We couldn’t believe how much money we were spending,” Fran says. The second-grade teacher and her husband, Larry, a paramedic/firefighter, had other bills to pay; they needed to find a way to save.

So she started kicking her kids off the plan… First her oldest. Then her teen twins.

Down to four lines, their bill was still close to $300 a month. Fran began researching discount carriers, but many of them required new and unlocked phones. If she had to buy everyone in her family a new phone, the switch would never pay off.

Then she found Tello, a discount wireless carrier with plans starting at $5 a month.

Is $65 a Month For 4 Cell Phone Lines Too Good to be True?

Fran was admittedly a bit skeptical at first.

She was mostly worried about dropped calls and limited coverage. But she learned Tello ran on the Sprint network, which she already used and knew worked well in her area.

Larry, still not convinced, let his wife try it out first. If it didn’t work, Fran thought, then she could easily cancel, since Tello doesn’t require a long-term contract and doesn’t have early termination fees.

She went on Tello’s website and built her own plan. She chose unlimited talk and text and 2 GB of data. If she needed more data, she could always add it later.

From there, she checked out and waited for the Tello service to activate. It happened overnight — literally.

Then it was time to set up her mother-in-law’s Tello account. She used a flip phone and didn’t need any data — just some minutes. Fran had been paying $30 a month for her mother-in-law’s line at Sprint. With Tello, she customized the plan. Grand total? $8 a month.

Eventually, Fran’s husband and daughter joined. Larry signed up for 4 GB for $19 a month, and her daughter opted for 6 GB, which cost $24 a month.

Grand total with Tello: $65 a month for four lines.

Tello Review: “Tello is Saving My Family About $2,820 a Year”

It’s been nearly five months since the DeRosier family switched their cell phone service to Tello, and they have no complaints.

In the two times Fran reached out to Tello’s customer service (once when she had trouble switching her mother-in-law’s phone over and once when she requested the wrong SIM card for her daughter), she said it’d been so easy, and each issue was resolved in less than five minutes.

Fran manages the family’s accounts from her phone — Tello has an app that makes it easy to track your data usage and add more if needed.

For example, Fran’s daughter is prone to using all her data before the month’s end, so Fran can go into her Tello account and add extra data. If she doesn’t? Tello doesn’t mess with overage fees; it simply cuts the data off, so her daughter can just rely on Wi-Fi.

But hands-down the best part? That approximately $2,820 a year the family is saving.

“When I did the math, I was like, ‘Are you kidding me? That’s crazy!’” Fran says. “I didn’t realize it would be that much, but it’s freed up money to fix our house up to potentially sell and has given us extra room to do some things we want to do.”

How to Switch to Tello (It’s Easier Than You Think)

Fran notes that switching her family to Tello was easy — all their Sprint phones were compatible with the service.

But just because you don’t have Sprint doesn’t mean you’re out of luck. Many of the iPhones and Nexus purchased from Apple, Google Play, AT&T, Verizon, T-Mobile or big-box stores will work.

Pro Tip

If you have a phone you want to bring with you, check to see if it’s compatible on Tello's website. Click “Bring your phone,” and Tello will let you know in less than a minute.

If your phone is compatible but you need a Sprint SIM card (that little microchip in your phone), you can get one through Tello for $9.99. You should receive the card in the mail in three to five business days — or you can opt to pay for priority shipping if you need it sooner.

Next up, you’ll create your account and build your own plan. Tello holds your hand through the process — it’s way easier than you might think.

So are you ready to see how much you could save by switching your cell phone service? Start by checking your coverage and phone’s compatibility, then build your Tello plan.

Carson Kohler (carson@thepennyhoarder.com) is a staff writer at The Penny Hoarder.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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Frightened by Halloween Expenses? These Money-Saving Tips Are a Treat

The creepy, animatronic witch drew you in with her cackling laugh.

That would be perfect for the front porch, you decide.

You meander through the Halloween displays at your favorite big-box store and spot the perfect sinister costume to wear to your co-worker’s annual holiday bash.

Everyone will get a kick out of this.

You add a couple bags of candy to your cart, because you can’t disappoint the trick-or-treaters. And right before you get to the register, you see an arrangement of pumpkins.

What’s Halloween without a spooky jack-o’-lantern?

But when the cashier rings everything up, it’s your turn to get scared… by the total.

It’s easy to get swept up in overspending to celebrate Halloween. But with some creative thinking, you can avoid the festive money traps. 

5 Ways to Celebrate Halloween on a Budget

Keep spending under controlthis year with these money-saving suggestions.

1. Skip the Store-Bought Costume

Save a trip to the store and search the corners of your closet for something you can turn into a last-minute Halloween costume. 

Throw on a brightly colored shirt and add shorts, sandals, shades and a sunscreened nose for a tourist look. Or go as a new-age witch with some drapey, black layers along with dark jewelry and goth-style makeup.

Speaking of makeup, check beauty stores and drug stores instead of party stores for better quality, selection and prices.

2. Shop at Dollar Stores for Decor

Sure, those motion-sensored decorations that make all the kids jump are neat. But we’ll pass on those prices. 

Discount stores like Dollar Tree, Family Dollar and Five Below sell seasonal decor for just a few bucks. Kristy Gaunt, a former Penny Hoarder graphics designer, adorned her whole house (inside and out) with Halloween flair for under $50.

Her No.1 money-saving strategy was shopping at dollar stores first.

“Really think about the decorations that you’re buying and if you can get it somewhere else cheaper,” Gaunt said.

3. Nix the Candy

You don’t have to be a Scrooge (wrong holiday, we know) and ignore the knocks from trick-or-treaters come Oct. 31. But you don’t have to waste money buying what you hope is enough bags of fun-sized chocolate either.

Swap the sweets out for Halloween candy alternatives like stickers, spider rings or glow-in-the-dark bracelets. The cost of those trinkets may be comparable to candy, but the advantage is you can save leftovers for next year.

We’re not doubting you couldn’t eat your way through half a bag of Reese’s peanut butter cups, but who wants all those extra calories — or the guilt trip from the dentist.

4. Make the Most Out of Your Pumpkin

There’s so much more you can do with that orange gourd than propping it in a window for decor. 

You can add pumpkin puree to a pasta dish, roast pumpkin seeds, make a planter or whip up a pumpkin face mask. Check out this story for more ideas on what to do with pumpkins after Halloween.

5. Bring the Kids to a Free Event

Haunted hayrides, ghost tours and trips to the amusement park include admission fees. Stick to Halloween on a budget by taking the kids to free events instead.

Michaels will have free pumpkin cookie decorating on Oct. 12 from 11 a.m. to 2 p.m. Bass Pro Shops will throw a “Great Pumpkin”-themed celebration on Oct. 19, 20 and 25-31. The Disney Store will host kids’ costume parties the last three weekends in October. Target will have in-store trick-or-treating and a Paw Patrol themed party on Oct. 26 from 10 a.m. to 1 p.m.

For parents of fur babies, PetSmart will host a pet costume contest and trick-or-treating for pups on Oct. 26 from noon to 2 p.m.

Nicole Dow is a senior writer at The Penny Hoarder.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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Franklin American Mortgage Review

Franklin American Mortgage Company was established in 1994 as a small mortgage lender with a single office in Brentwood, Tennessee. Within one year of its founding, Franklin American had expanded its reach to residents in Texas and continued to grow until it was acquired by Citizens Bank in 2018.

Although the merger with its parent is ongoing, Franklin American’s customers enjoy the same personalized service they received during the company’s 25 independent years in business.

Franklin American Background

Franklin American Mortgage Company has been in operation for just over 25 years, yet it has fostered a positive reputation as a trusted home loan provider in Tennessee and parts of Texas. The company was formally acquired by Citizens Bank in 2018 and is currently in the process of merging its assets and online resources.

This acquisition has caused some disruption to the company’s normal operations and it is unclear whether Franklin American will continue to process new mortgage applications moving forward.

While the company’s website does advertise a number of mortgage products, including conventional fixed- and adjustable-rate, jumbo, FHA, USDA, and VA loans, it lacks all of the information a borrower needs to make an informed decision. Franklin American’s website also does not allow users to apply for a home loan or obtain a rate quote.

Franklin American was fully accredited by the Better Business Bureau in 2005, with almost all of its physical branches earning an A+ rating from the business accreditation organization. However, visiting the company’s BBB profiles will automatically redirect users to the Citizens Bank headquarters page, which houses more than 750 customer complaints filed over the past three years.

Homebuyers should be aware that any new mortgage provided by this lender will be facilitated by Citizens Bank, so be sure to do significant research before submitting a home loan application.

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Franklin American Loan Specifics

Franklin American Mortgage Company provides its customers with a standard selection of home loan solutions, including fixed- and adjustable-rate, jumbo, FHA, VA, and USDA loans. Due to its recent acquisition, all new applicants are redirected to the website of Citizens Bank to learn more about its mortgage products and available rates.

Fixed-Rate Loans

This conventional mortgage type benefits its lenders due to stable interest rates and monthly payments over the full loan term, making it a solid choice for homebuyers who plan to settle down for the long haul. Borrowers can select a loan term of 15 or 30 years, though they should keep in mind the fact that shorter repayment periods typically offer more competitive rates.

Adjustable-Rate Loans

This variable home financing option features low starting rates that automatically adjust to the ebb and flow of certain market indices’ performance after a set fixed-rate period. Most lenders provide borrowers with a wide variety of ARM loan options, but Franklin American only offers 7/1 ARMs since its acquisition by Citizens Bank. Adjustable-rate mortgages are often best suited for homebuyers who plan to relocate within 5 years.

Jumbo Loans

Borrowers interested in financing an expensive home can take advantage of this mortgage option, as it covers purchases that exceed the conventional conforming limits set by the Federal Housing Finance Agency.

The 2019 conforming loan limit for one-unit properties stands around $484,350, though this amount tends to vary between states. Jumbo mortgages can be secured as either fixed- or adjustable-rate loans, but may require a high down payment and credit score to qualify.

FHA Loans

This mortgage program was created by The Department of Housing and Urban Development to support first-time homebuyers and borrowers who are unable to qualify for traditional home loans due to low credit scores and sparse credit histories. FHA loans can be secured with as little as 3.5 percent down by applicants with a credit score of 580 or higher.

VA Loans

Eligible military veterans and active service members may be eligible for this 100 percent home financing program through The Department of Veterans Affairs. This mortgage option features some of the lowest available interest rates and does not require borrowers to put any money down upfront. Additionally, qualified applicants who put no money down do not need to enroll in mortgage insurance.

USDA Loans

This government-backed home loan is perfect for borrowers looking to invest in certain rural and suburban properties, as it can be secured with no money down. The Department of Agriculture created this program to support low-to-moderate income homebuyers who may be unable to qualify for conventional mortgages.

The property must be located within an agency-designated census tract, though most rural communities in the U.S. fall under the qualification guidelines.

Franklin American Online Lending

Franklin American’s ongoing merger with Citizens Bank has caused a good deal of disruption to its normal lending operations, especially through its website. The company has taken down a significant portion of its product details and rate estimates, leaving their online resources feeling quite thin.

At present, there is no specific information available for Franklin American’s mortgage programs beyond a shortlist of its offerings. Many of the company’s web pages redirect users to Citizen Bank’s website to learn more about home financing, which makes it hard to tell whether Franklin American will retain any of its mortgage services.

A 2018 press release from Citizens Bank outlined its “acquisition of certain net assets” that included “a sizable mortgage servicing portfolio,” though it stopped short of clarifying whether Franklin American would continue to play a role in the loan origination process.

Judging from the lender’s website, Franklin American appears to have turned over all its loan application activities to Citizens Bank. The company’s website does not allow users to submit a formal loan application or obtain a personalized rate quote. While many of Franklin American’s online educational resources still exist, it seems like they have not been updated since the 2018 acquisition.

Homebuyers looking to learn more about mortgages and interest rates will have a hard time locating useful information on the company’s website and maybe better off browsing Citizens Bank’s digital help center instead. Interested homebuyers can contact a Franklin American lending agent by visiting one of its physical branches, calling its support line, or filling out a digital form via its website.

Franklin American Ratings

Before its 2018 acquisition by Citizens Bank, Franklin American Mortgage Company had built an excellent reputation as one of Tennessee’s most trusted lending institutions. The company was formally accredited by the Better Business Bureau in 2005 and almost all of its branches carried a BBB rating of A+.

Visiting any of Franklin American’s BBB profiles will automatically redirect users to Citizens Bank’s profile, which features a mixed bag of ratings and reviews. Although Citizens Bank does possess an A+ BBB rating, a total of 767 customer complaints have been filed against the financial institution over the past 3 years.

• Information collected on Feb. 25, 2019

Franklin American Mortgage Qualifications

Credit Score	Credit Score Rating	Mortgage Rate Impact
800 - 850	Exceptional	Able to secure the best available interest rates from almost every lender
740 - 799	Very Good	Able to secure better than average interest rates from most lenders
670 - 739	Good	Able to secure average interest rates from most lenders
580 - 669	Fair	May have difficulty qualifying for a mortgage even with below average interest rates
300 - 579	Poor	Likely to have difficulty qualifying for a mortgage even with large down payment and very high interest rates

Most lenders require down payments of at least 5 percent on all conventional fixed- and adjustable-rate loans, with higher minimums for jumbo mortgages. Luckily, FHA loans can be secured with as little as 3.5 percent down, which may help first-time homebuyers and moderate-to-low income borrowers obtain affordable rates.

Credit score is another important metric for determining program eligibility and formulating interest rates, as it helps lenders determine what level of risk an applicant may represent. According to FICO, the industry average credit score stands around 740, though most lenders are willing to work alongside borrowers with scores as low as 640.

Homebuyers with high credit scores should not have much difficulty qualifying for conventional loans with competitive rates, though every lender has its own eligibility rules. Franklin American’s website does not list qualification guidelines for any of its mortgage products.

This information was likely pulled from the website shortly after the company was acquired by Citizens Bank to prevent any conflict between the two organizations’ eligibility metrics. At present, there is no mention of specific down payment minimums, credit score conditions, median income limits or debt-to-income requirements within any of the lender’s informational resources or product pages.

Borrowers interested in learning more about Franklin American’s home financing solutions are redirected to Citizens Bank’s website, which also contains a limited amount of concrete information.

Franklin American Phone Number & Additional Details

• Homepage URL: https://www.franklinamerican.com/
• Company Phone: 1-800-295-1020
• Headquarters Address: 6100 Tower Circle, STE 600, Franklin, TN 37067

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