FOUR SIMPLE WAYS TO SAVE UP TO £700 ON YOUR MOBILE CONTRACT
- Analysis reveals millions of Brits are throwing away hundreds of pounds a year
- Cost-of-living champion Greg Marsh has issued four simple tips to save cash
- READ MORE: Renters now pay an extra £5,993 a year in rent and energy bills
A money saving expert has revealed why no one should be paying more than £10 a month for their mobile phone deal.
One in three households in Britain are out of contract with their provider and could be saving hundreds of pounds a year.
New data from household money-saving tool Nous.co shows people out of contract pay on average £27.13 a month for 3GB of data, but could switch to a cheap SIM-only deal and save £266 per year.
Cost-of-living champion Greg Marsh, CEO of Nous.co, has issued four simple tips that have saved people as much as £700 every 12 months.
Read on for the expert's advice and to find out how you could be keeping more cash in your pocket.
1. Never let your deal roll on after the contract ends
Greg's first top tip is to never let your deal roll on after the contract ends.
He advises: 'Make sure you know the end date - or better still sign up with a service like Nous to keep track for you so you never miss a renewal'.
If you do nothing and let it roll on, it's likely you will continue paying the same amount - usually the contract only ends if it's terminated by you or the phone company.
2. Check your contract end date
Next, make sure you're aware of the date your mobile contract ends.
If you're unsure, you can find out in seconds by texting INFO to 85075, which is free to do.
You'll receive a message telling you if you're out of contract and free to switch immediately.
3. Switch to a SIM-only deal
Greg's third piece of advice is to go for a SIM-only deal to save money.
He explains: '£10 a month will get you 60GB of data, which is enough for all but the tiniest fraction of people.'
Switching to SIM only is an effective way of cutting down your costs if you were previously on a pay monthly plan.
4. Buy a refurbished phone and a SIM-only deal
Finally, buy a refurbished phone and a SIM-only deal rather than a new phone bundle.
Even the latest models are available refurbished and can be up to half the price, according to the experts.
If you don't want to pay upfront, many are available on interest-free payment plans. Make sure you buy one with a warranty from a reputable seller.
The Nous.co CEO warns: 'Millions of people who are out of contract on their mobile are as good as setting fire to a bundle of £20 notes.
'Providers know we don't want to spend hours keeping on top of our contracts, and hope we won't notice that we're overpaying.
'This kind of loyalty scamming costs households hundreds of pounds each year.
'At Nous.co we've saved customers more than £700 a year on their mobiles alone by handling this for them and switching them to fairer deals.
'The most cost-effective way for 99 per cent of us is to buy a refurbished phone and get a SIM-only deal.
'As long as you buy from a reputable source, refurbs are great phones that look and work like new and are available under guarantee.'
Analysis by Nous found that a bundle contract on a new iPhone 15 at £29.99 a month with £119 payment upfront and at least 5GB of data cost £838.76 over the length of a 24-month contract.
Buying the same model phone refurbished costs £569. Coupled with a 5GB SIM at £4 a month, the 24-month total would be £665, a saving of £173.76.
The only popular phone deal on the market that bucks the trend is the Samsung Galaxy S24 which works out £6 cheaper over 24 months.
| Phone | Monthly cost: new handset and at least 5GB data, 24 months | Upfront cost for handset for | Total cost of contract | Cost of refurbished handset alone | Cost of 5GB SIM only per month | Cost of 5GB SIM only for 24 months | Total buying separately | Saving buying refurb handset and SIM only |
|---|---|---|---|---|---|---|---|---|
| iPhone 15 | £29.99 | £119.00 | £838.76 | £569.00 | £4.00 | £96.00 | £665.00 | £173.76 |
| iPhone 15 pro | £29.99 | £259.00 | £978.76 | £749.00 | £4.00 | £96.00 | £845.00 | £133.76 |
| iPhone 14 | £25.99 | £99.00 | £722.76 | £409.00 | £4.00 | £96.00 | £505.00 | £217.76 |
| Samsung Galaxy S24 | £24.99 | £99.00 | £698.76 | £535.00 | £4.00 | £96.00 | £631.00 | £67.76 |
| Samsung Galaxy S24 Ultra | £29.99 | £369.00 | £1,088.76 | £999.00 | £4.00 | £96.00 | £1,095.00 | -£6.24 |
| Google Pixel 8 Pro | £29.99 | £89.00 | £808.76 | £545.00 | £4.00 | £96.00 | £641.00 | £167.76 |
| Google Pixel 8 | £10 | £319.00 | £415.00 | £415.00 | £4.00 | £96.00 | £511.00 | £48.00 |
| Google Pixel 7 | £14.99 | £150.00 | £339.00 | £339.00 | £4.00 | £96.00 | £435.00 | £74.76 |