AARP, NPR and several other sources have reported a surprising number of seniors are still paying their phone company a monthly rental for their phone. If you’re one, it may not be the best use of your money.

Back in the day, of course, we didn’t have an option, but today we do. Although most phone companies will rent or lease you phone equipment, it’s rarely the money-wise choice.

Check your phone bill, and if you’re not sure, call your phone company and ask. If you are still paying them an equipment leasing fee, find out what it’s costing you and what it will cost you to change. Explore your options. Office supply and electronic stores offer an amazing variety of phones you can own for a surprisingly small amount of money. Plus you’ll have many more choices if you own your own equipment.