Video: Prepaid phone service can save you money

Are you looking to cut down on your cell phone costs? Some prepaid cell plans could help you cut your bills considerably.

In a survey of subscribers, we found that the average American household spends over $1,500 a year on phones and services. Some even spend twice as much. But two-thirds of survey respondents who switched from a contract to a prepaid service were able to reduce monthly phone expenses by $20 or more.

Find out which services might save you money in our video. And check our story, Smart ways to save on smart phones, for more dollar-saving tips.