Mobile phone trick that could save you up to £360 a year
Switching mobile phone providers once your contract expires could save you hundreds of dollars a year.
According to new research from mobile id, the Brits could be losers by doing nothing when their contracts are up. Most mobile contracts include the price of the handset and the usage (texts, calls and internet package), but the costs of these can vary widely between networks.
The cost of paying for your phone does not automatically decrease when you have paid for the handset, which means you still pay for the phone as if it were new at the end of your contract. Questioning this could save you up to £35 a month.
READ MORE: Martin Lewis begs Dominic Raab to do more to help the energy crisis
Phone networks have a legal obligation to inform their customers when their contract ends, but a fifth (18%) have no idea when theirs ends and a further 28% do not plan to change of contract, assuming that changing supplier would be more expensive. .
Wales online reported A further 18% won’t upgrade their handset or switch networks because they think it’s too complicated – paying more than necessary. Additionally, two-fifths (39%) of UK adults would not consider switching to a lesser-known mobile network, with 50% worried that network coverage would not be as good. This is despite the fact that the lesser-known mobile networks are all powered by one of the UK’s four main networks, enjoying the same level of coverage.
Despite this, 76% said they would change their offer if they knew they could save up to £13-15 a month. Personal finance expert Sue Hayward says: “Every penny counts in today’s cash-strapped climate and it’s shocking that one in three of us seem happy to squander an average of £156 a year, on our bills mobile phone costs and in some cases upwards of £360 a year, according to research by iD Mobile.
“Although one in two of us thinks we are paying too much for our plans, we seem reluctant to shop around and switch mobile providers; which is curious given 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 maybe it’s time for consumers to put loyalty aside and switch providers to save money.”
She added: “Taking a few minutes to check your mobile phone contract, haggling for a better deal or switching to a provider like iD Mobile, can pay dividends and set you back with pounds.” With the cost of living set to skyrocket this year, Money Saving Expert Martin Lewis has urged people to grab cash wherever they can.
Receive newsletters with the latest news, sport and updates from ECHO Liverpool by signing up here