Mobile phone tariff analyst company Billmonitor has produced a report that details monthly mobile phone contract payers waste a figure equal to £4.899 billion, each year, in wasted minutes, text and data allowances.
Billmonitor was founded by mathematicians in oxford and is an independent service that helps mobile phone users save money with its bill analysis, along with being the UK’s only Ofcom accredited mobile price comparison service.
The report lists 76-percent of UK mobile subscribers are wasting on average £194.71 a month, which is the equivalent to 44% of the whole mobile revenue from over 25 million mobile post-pay customers.
These figures were analysed from 28,417 mobile phone bills, using statistical analysis implemented by the Billmonitor team that includes Professor Chris Holmes and Dr Nicolai Meinshausen from Oxford University.
The wasted amount is defined by the difference between how much a customer could be paying on the right contract, compared with what they are actually paying.
The ‘right contract’ is simply a tariff that includes bundles and best matches how a customer uses their phone; in other words, the right contract is one where a customer pays no more than they should.
Billmonitor’s report shows that 52-percent of customers are wasting money on a tariff that are too large for them, using on average just one quarter of their monthly calling allowance – with a total waste of £2.62 billion.
29-percent of customers are wasting money on a tariff too small for them, whilst using up money on out of allowance calls, texts, data usage as well as other costs that could be reduced with a larger tariff – with a total waste of £1.53 billion
And lastly, 19-percent have the right level of inclusive minutes but are wasting money by not optimising free benefits, data and text allowances as well as other costs, or taking advantage of lower costs on 24 month contracts – with a total waste of £0.74 billion.
Originally published at OneMobileRing.com