5 things you'll pay less for in 2014

Wireless companies are competing for customers, which is good news for those looking to cut their monthly phone bills.

Last year, T-Mobile (TMUS) shook up the marketplace by eliminating traditional phone subsidies that are built into two-year contracts. Customers pay full price for their phone through monthly "fully-disclosed" installment charges, and once the device is paid off, the monthly bill drops. And last week, the company announced it will pay up to $650 in termination fees to get customers at bigger carriers to switch over.

Earlier, AT&T (T) made its own pitch, offering T-Mobile customers a $200 credit per phone line, plus the chance to trade in their smartphones for up to $250.

A growing number of start-up wireless firms are also offering deals for bargain-hunters.

"We're heading in the right direction," said industry analyst Jeff Kagan said. "There are going to be more, not less, options to save money."

First published January 15, 2014: 7:36 AM ET

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