UK’s money-saving expert Martin Lewis offers crucial advice to mobile phone users on reducing their bills, as the nation faces steep contract price hikes amidst the cost of living crisis.
UK financial expert Martin Lewis has highlighted an issue affecting millions of mobile phone users across the country: overpayment on phone contracts. In response to this, Lewis has outlined a series of measures that people can take to lower their monthly bills, including switching to deals that could potentially cost as little as £3.50 per month.
The founder of MoneySavingExpert advised mobile phone owners to check if they are out of contract, encouraging them to shop around for better deals using comparison websites. Addressing the potential obstacle of moving to a different provider, Lewis reassured users that keeping their phone number and transitioning to new networks can typically be managed without difficulties.
To substantiate his claims, Lewis noted that approximately 14 million individuals in the UK remain out of contract, suggesting they stand to benefit financially from following his guidance. His tips come as relevant advice in the face of the cost of living crisis and are part of his broader strategies for cutting household expenses.
Concurrently, the UK is approaching a period where mobile and broadband customers will likely encounter price increases around 8%, prompted by a surge in the Consumer Price Index (CPI). Firms such as Vodafone have indicated that almost half of their mobile users will see a 7.9% hike in their bills this year. Such escalations in price raise concerns as they could contribute to the existing cost of living pressures faced by consumers.
Meanwhile, Ofcom has suggested banning these types of inflation-related price rises, with consumer confusion as one of the main reasons. Although BT has scrapped these practices for future contracts, it will carry out a final inflation-linked increase of 7.9% from April. Vodafone and Three plan to maintain the increases as per their current contracts, with Vodafone customers set to experience an increase of a few pounds a month.
Consumer groups, including Which?, have condemned the above-inflation price hikes, arguing that they cause significant consumer harm. This ongoing situation potentially affects all mobile companies and may fuel the debate on the necessity and fairness of these price rises amidst economic challenges confronting UK residents.
