Smart phone use as a wi-fi "hot spot"

Thanks for all the comments - - very good info to digest. Used to be that I was one of the 1st to try out new technology but in recent years I've been dragging my feet in getting into the latest technology. I resisted getting a tablet for several years but have had one now for almost 3 years and love it! It's an android based tablet so I want an android based smart phone so the learning curve will be shorter.

I do know about using lots of data - - I'm currently on a 14GB/mo. plan with my Mi-Fi and expect to have at least a 10GB plan on the smart phone using it as a wi-fi hot spot.