Another day, another deal!
Whether you are basing your mobile phone contract on the latest Apple product to hit the market, or the offer on a blackboard outside a phone shop, we appear to be overspending. As a nation we are throwing away a whopping £1.55 billion per year by choosing the wrong deal.
Mobile comparison site HandsetExpert analysed 4.7 million deals to identify when customers would be better off forgoing a Pay Monthly deal and buying a handset and SIM separately.
Of the 51.7 million adults in the UK, 78% own a smartphone, and when you break that down to the 23 million 18-44 year olds in the country, the figure goes up to 91%.
In Doncaster, contracted mobile phone users are kissing goodbye to a not insignificant £3,737,001.
HandsetExpert’s research showed that British mobile users would be better off, 65% of the time, choosing a SIM Only deal and buying their handsets separately, rather than buying the phone and contract together on a Pay Monthly deal. On average in the UK, buying a contract with a smartphone is £92 more expensive than buying them separately.
HandsetExpert put together an interactive map of the UK, which shows how much each city could save by switching to a better mobile phone deal, find out how your region compares below -
Doing so is usually the much cheaper option, but it takes a little more time and money upfront than buying a bundle. Over half of Brits would benefit from making the effort it seems, as the research revealed that 57% of those with a phone contract are on the wrong deal.
Dr Shahrum Gilani, who founded HandsetExpert, comments: "The number of mobile phone deals has shot up over the years, which makes it even harder to find the right one.
While having lots of choice is generally good, it shouldn't be used as a way to divert customers away from the best price and deals. Our research shows that customers are still paying over the odds on their mobile phone bills.”
Breakdown of data:
57% of contract phone users are on the wrong contract. They could be saving £88 if they chose the right deal.
Of the 57% who could save, two thirds are contract users who would be better off switching to SIM Only (saving, on average, £92)
The other third are SIM Only users who would be better off switching to Pay Monthly (saving, on average, £80)