You are here: Home - Household Bills - How to -

How to slash £160 off your annual mobile phone bill

0
Written by:
17/01/2017
You could be one of the millions of people paying too much for your mobile phone. Here are some top tips to save you money.

Mobile phones are more of a necessity than a luxury nowadays, with people relying on their handsets for everything from staying in touch with family and friends to paying for their shopping.

A staggering 93% of the UK adult population own or use a mobile phone, according to telecoms regulator Ofcom.

But are they paying too much? Well, according to statistics from consumer group Which?, 72% of mobile customers pay over the odds for their contract by an average of £159 a year.

When it comes to buying a smartphone, you have two options: sign up to a lengthy bundled contract or splash out on an unlocked SIM-free phone and choose a SIM-only tariff.

According to mobile expert and chief executive of UNSHACKLED.com, John Whittle, with a bundled contract you’re usually required to pay a large upfront payment and then pay high monthly bills for a tariff “that’s not always good enough”.

Buying SIM-free is the more cost effective option, but you often have to shell out a hefty sum upfront for the phone, and most of the flagship phones now cost well over £500.

Here, Whittle offers his tips for saving money on your phone contract:

Buying phone and SIM separately

When buying a phone over 24 months, you’re borrowing money on an expensive APR and while it reduces the initial outlay, it’s more expensive in the long-run.  Buying a phone and sim separately is often more cost-effective.

Checking usage

Instead of forking out for data allowance you don’t use, work out how much data you use and exactly what you will use your phone for and buy the appropriate package. You can do this by downloading your network’s app to see what your monthly usage is.

Don’t be complacent

Be aware of when your contract ends. Research shows people are overpaying after their contracts have ended to the tune of half a billion pounds a year.

Don’t tie yourself in

Shorter contracts are better because those locked into 24-month contracts won’t benefit from any price falls or deals until it’s up for renewal.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
2243489-adviser5
Three reasons to use a mortgage broker

Homebuyers can either use a broker or go direct to a lender to get a mortgage. Here are three reasons...

Close