Many people will be looking to keep their spending in check during this cost of living crisis, and going into the New Year there may be a few ways to do so.
With mid-contract price rises lurking for millions of mobile and broadband consumers in the spring — and pay-TV and streaming services regularly unveiling new packages and subscription tiers — January is a great time to take stock of your tech contracts and see what you can save.
To help out with this, the telecoms editor from Uswitch.com, Nick Baker, has some advice on what to do.
How to make savings on mobile, steaming and broadband at the start of 2023
Contract savings
The most common mistake when it comes to broadband and mobile bills is falling out of contract. The best deals are usually offered on 12, 18 or 24-month deals so it can be easy to lose track of when they expire. Yet the moment you do - you are almost certainly paying more than you need.
According to Uswitch data, customers could save an average of £321 on their pay-monthly mobile contract by holding onto their handset and moving to one of the best value SIM-only deals. Meanwhile, households on an expired broadband package could claw back an average of £162 by switching to a new deal.
Baker said: “If you’re paying for 20GB of mobile data a month, but find you’re only using a fraction of that, it’s time to speak to your network provider as you may be able to negotiate your data allowance to save money.”
Additionally, it’s worth pausing or cancelling a streaming service subscription if it’s been a while since you used it, or just got it for viewing over Christmas.
TV and streaming savings
Some TV providers offer streaming services as part of the package, so it might be beneficial to shop around for that.
Baker said: “For example, TV packages such as those offered by Sky come with Netflix as standard, meaning that you don’t have to double up. And if you already have a Netflix account, you can add it and all your favourites to your Sky account when you sign up.”
READ MORE: New Government ad launches to help people make energy savings
While it’s tempting to subscribe to multiple TV and streaming services for the volume and variety of content, it’s bad for our wallets. With most services on rolling one-month deals it’s time to get ruthless. Subscribe to one at a time and get your money’s worth from each before moving to the next one.
Cheaper options for some streaming services are available too if you want to go down that route, as Netflix offers an ad-supported tier, whilst Disney+ will do so in the UK in 2023.
Mobile savings
When it’s time for you to get a new phone you can make a decent saving by buying a refurbished model, rather than a brand-new one.
Baker said: “These nearly-new items come with a guarantee for added peace of mind and are often indistinguishable from full-price models, with some even including mint-condition packaging. Pair it with a low-cost SIM-only deal and you’re good to go.”
Buying at the right time can also provide a benefit. When a new phone model comes out retailers are often keen to shift older stock and can provide discounts.
“With Samsung set to release the new Galaxy S23 in February, it could be a good time to look at the S22 and its predecessors in the weeks ahead,” Baker advised.
Your Money Matters
Your Money Matters is a campaign launched by us and our sister titles across Newsquest to help you overcome the surge in the cost of living. This year has seen a whole host of household price increases — from the energy price cap rise to surging inflation and food prices — costing your family hundreds or even thousands of pounds extra per year. We’re making it our mission to look out for your cash, offering money-saving deals, competitions, giveaways and insightful stories from your community on the impact this cost-of-living crisis is having on our readers. The worldwide energy crisis exacerbated by the Ukraine invasion, the financial impact of the Covid pandemic, record inflation figures and a surge in the cost of goods, fuel and travel means we will all feel the pinch. Through our newspaper, we want to do what we can to help make your cash go further because we know your money matters.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here