Brits waste on average £156 a year due to neglecting their phone contracts, research finds

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Despite the cost of living crisis concerning most UK adults, many are missing out on saving £156 a year by switching their mobile network provider.

According to new research by iD Mobile, a third of Brits could be wasting money by not doing anything when their mobile contract ends.

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Despite it being a legal requirement for network providers to inform their customers when their contract is up, a fifth of Brits have no idea when it ends. And even if they do, 28% plan to keep everything as it is without assessing their options.

Sue Haywards, Personal Finance Expert said "Despite one in two of us thinking we overpay for our plans, we seem reluctant to switch when it comes to our mobile provider. Nearly half of us don't think our mobile network rewards us for being loyal.

It may be time for consumers to put this aside and switch providers to save cash. Taking time to check your mobile contract or switch to a provider like iD Mobile can put pounds back in your pocket."

Lewis Henry, Head of Customer and Marketing at iD Mobile adds: "We know that times are hard, with bills set to increase and the cost of living going up.

Switching to iD Mobile is easy as sending a text. With an average saving of £13 per month compared to other networks, it's easy to see why customers are switching to iD Mobile."