Mobile phone hack could save you up to £360 a year

Despite the cost of living crisis deepening and affecting 90% of UK adults, many are still missing out on saving over £156 a year on average by not switching their mobile network provider. According to new research from mobile iDCurrys mobile virtual network operator, a third of Britons could be wasting money by doing nothing when their mobile phone contract ends.

Most mobile contracts have a price that covers the cost of the phone (mobile phone) and inclusive use (minutes, text messages and data). However, the cost of these similar contracts (same phone and usage inclusions) can differ wildly between networks, sometimes as much as £30 per month. Also, the price you pay doesn’t always automatically go down once the minimum term is up and you’ve effectively paid for the phone element of the contract, meaning you’re paying more for the phone than you need to.

Although it is a legal requirement that network providers inform their customers when their contract expires, a fifth (18%) still have no idea when it ends. And even if they did, 28% plan to keep everything exactly as is (same phone on same plan) without evaluating their options, with a fifth of Brits (20%) feeling it would be cheaper than switching to a new provider. . Another 18% won’t upgrade their phone or switch networks because they think it’s too complicated and will actually pay more than they really need. Additionally, two-fifths (39%) of UK adults would not consider switching to a lesser-known mobile network, and 50% are concerned that network coverage is not as good. This is despite the fact that lesser known mobile networks work with one of the four major UK networks and benefit from the same level of coverage.

Although 95% of people are generally satisfied with their current plan, with the cost of living rising, more than half (53%) feel they are paying too much for their mobile package. Despite people’s reluctance to switch providers, 76% would consider switching to a lesser-known network if they could save up to £13-£15 per month on their plan.

Switching to a lesser-known network provider can be a simple and effective way to save money without compromising on the phone or usage inclusions, with an average saving of £13 per month on similar offers compared to the major networks. Clients can save £156 on average per year.

Sue Hayward, personal finance expert, says: “Every penny counts in today’s cash-strapped climate and it’s shocking that one in three of us seem happy to waste a whopping £156 a year on average, on our mobile bills. and in some cases more than £360 a year, according to iD Mobile research.Despite the fact that one in two of us think we overpay for our plans, we seem reluctant to shop around and switch when it comes to our mobile provider, which is curious considering how open we are to switching providers on other household bills to save money. Nearly half of us don’t think our mobile network rewards our loyalty, so it may be time consumers give up loyalty and switch providers to save some money.

“Taking a few minutes to check your mobile contract, haggle for a better deal or switch to a provider like iD Mobile can pay dividends and put pounds back in your pocket.”

With the cost of living rising and beginning to affect families, we’re looking to save money in other ways. 46% of adults are determined to reduce their use of heating and electricity, a third plan to reduce eating out and socializing, and a quarter drive less. The research also revealed that a fifth (18%) of 18-34 year olds still rely on their parents to pay for their phone.

Leave a Reply

Your email address will not be published. Required fields are marked *