It’s official: We’re spending a fortune on our cell phones! In fact, according to a new Labor Department study, the average household now spends over $1,200 a year on mobile phone services. That’s more than we spend on cable TV and home Internet! Also, while most families say they’ve been cutting back on their spending since the recession, statistics show that spending on phone services keeps going up.

So, now, the question many experts are asking is: How much more are we willing to spend? Because many families are already reporting fewer dinner and movie nights out, just so they’ll have money to pay the phone bill. And in recent months, companies like Verizon and AT&T have announced plans to set new limits on their data networks, which could lead to even higher phone bills. That’s because so many of us are using our smartphones like portable TVs, and computers.

Plus, we’ve shown that we’re willing to pay more every time wireless carriers upgrade their networks – going from 3G to 4G, to 5G, and so on. And that’s not even counting the extra money we pay each time we upgrade to a fancier smartphone!

So, I’ll put it out to you: How important is your cell phone? And how much more would you be willing to pay for it, before the strain on your budget gets to be too painful? Weigh in at