That depends on how you make the purchase and what you have on your bill right now.
Are you currently under contract? Are you going to purchase a discounted upgrade in exchange for signing a new 2 yr contract? Are you going to make the purchase on Edge? Are you going to make the purchase at full retail cost?
If you are currently under contract and you purchase a discounted phone in exchange for signing a new 2 yr contract, you bill should not change unless you have unlimited data and would be giving that up by purchasing at a discount.
If you purchase on Edge, your bill will go up by the amount of the Edge payment($35.41) LESS the discount you receive depending on your shared data allowance. The discount would be $15 if under 6 GB/month and $25 for 6 GB/month or higher. You would also have to give up unlimited data if you purchase in this manner if you have unlimited data.
If you purchase at full retail, and are on More Everything, you would become eligible for the month to month discount once you are out of contract. The value of the month to month discount is equivalent to the Edge discount. You would have to add this discount yourself in your MyVerizon account. This means your monthly bill would go down.
Edge payments do not go up and down.
If you want more detail on what would happen with your bill, you would have to provide more detail about your account. We have no idea what calling plan you have, your data allowance, texting allowance, etc...