How does the verizon share everything plan work?

Okay so i Really want a smart phone but its really expensive. But i was talking to one of my friends today, and she said she had this share everything plan with her and her familys iphone 5 and she only has to pay 20 dollars a month for her phone. She has a 16 gb iphone 5 and i don't know how it works now. Because my dad said that it would cost more to have a share everything plan. I'm so confused.

Your dad is right.

The Share Everything plan is very expensive.

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