Mobile Phone Contract Saving Tips
Did you know, people now spend more money on their mobile phone pay monthly plan than they do on their utility bills. We all know switching utility providers can save hundreds of pounds a year, but most consumers do not use this ethos when taking their mobile bill into account. Following the advice below will help you save hundreds of pounds over the duration of your mobile contract.
Most pay monthly contract plans run over a 24-month period, this is due to the fact that most contracts include the cost of the device into the contract plan. The average spend in the UK is £45.60 per month (2018). Once you have paid off your 24-month contract you have finished paying for your device. If you don’t upgrade or move onto another network, you will keep paying the same amount even though the device is paid off.
Remember to add your renewal date to your calendar 2 months before. This gives you time to either find a new deal with another network or upgrade your handset with your current provider. Never let your mobile phone contract roll.
Pay a little upfront
Most flagship devices cost over £800, not everyone can afford to spend that amount of money in one hit. This is why mobile phone retailers blend the cost of the device with the tariff. Often the most attractive deal will seem the one with no upfront cost and lots of data but this is often not the case.
Paying a small amount of money upfront always saves money in the long term. This is known as total phone cost - the complete cost of the contract including the device and the monthly tariff. Always find out the total phone cost before entering into a contract.
Buying at the right time
As with most products there is a good time of year to buy a mobile phone. Apple, Samsung and other leading phone brands always have set dates to release their phones. So, it depends on the brand you want. Apple always release their devices mid-September. Samsung release their latest devices in August. As soon as a mobile phone brand releases their latest model the older generation phones will drop in price. If you don’t need the latest device, then you can often save hundreds of pounds. Buy at the right time!
This is where consumers often waste the most spend. Knowing what you need versus what looks like an attractive offer is key. Check out your recent bills or device to see what you have used. The most common data plan in the UK is 16GB of data but the average amount used per month is 4.1GB.
Source – www.statista.com
Understanding what uses a lot of data will help you save a lot of money. Check out what you can do with 10GB of data.
Source - Fonehouse
Managing your device also helps, turning off push notifications and automatic updates saves using data on the move. Don’t buy what you won’t use.
Selling your old device
So many drawers are full of old mobile phones that are worth money. Most iPhones from the iPhone 6 upwards are still worth £150 second hand. The older they get the less they are worth. Don’t keep your old devices!
So, treat your mobile phone bill like a utility bill and use the above steps to ensure you are getting the best deal. If you would like more tips on how to save you might like to read these posts Reduce your Outgoings to Reduce your Debt and Ten Easy Ways to Reduce Your Grocery Bill.