Open up a new line. Switch the phone to your current line so you can have the phone and keep your unlimited data. Put a dumb phone on the line you just opened so you'll only be paying $9.99 + tax a month for that line for 2 years. Sell your current smartphone and do whatever or you can put it towards the $350 etf if you don't want to keep the new line. Also try to get the phone at a good deal during the holidays/black Friday (*if they run a promotion on it*), so you won't be out that much.