Brits spend more than £1million on bills over their lifetime – and tech is the biggest cost
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BRITS spend almost £1million on bills over their lifetime according to a new study.
The average adult spends a whopping £926,720 on household bills such as gas electricity, water, their phone as well as other bills including insurance.
Broken down, the survey of 2,000 UK adults found people fork out £508 a year on TV packages and streaming services.
And for insurance annually – including life, buildings, contents, car, mobile, and travel - the bill was £2,042 a year.
But tech-related bills topped spending, with Brits notching up an average £1,555 a year on these expenses compared to spending on utilities of £1,491 per year.
Nina Bibby, from O2 which conducted the poll, said: “Our research shows just how much unnecessary expense we outlay over the course of our lives.
Monthly bill spend
HERE'S how much people spend each month on bills, on average, according to O2's research:
- Electric £47.03
- Gas £42.28
- Water £34.94
- Internet/broadband £23.03
- TV package such as Sky £28.29
- Mobile phone £17.56
- Landline £15.38
- TV streaming services £14.03
- Music streaming £12.27
- Council tax £136.61
- Mortgage/rent £520.61
- Credit cards £163.57
- Buildings insurance £20.36
- Car insurance £27.47
- Mobile insurance £18.99
- Contents insurance £18.38
- Travel insurance £16.76
- Pet insurance £21.15
- Life insurance £23.01
- Health insurance £24.10
“Taking the time to shop around for more flexible deals that suit your individual needs, so that you’re only paying for what you use, can save a huge sum of money in the long run.”
The study also found 35% of those polled believe they pay for things they don’t make the most of or actually use.
This includes paying for an unused landline as part of their broadband package or for TV channels they never watch.
And despite the huge outlay, seven in ten fail to compare prices on the services and contracts they pay for regularly, something which could save them money.
A quarter even admitted they believe they are paying an average of £170 more than they need to because they stick with the same providers, or don’t look for better deals.
One in four said they simply can’t be bothered to shop around.
A fifth claimed they don’t have the time to look for better deals, and 32% are under the impression they won’t save that much money.
How to save on broadband and TV bills
HERE'S how to save money on your broadband and TV bills:
Audit your subscriptions
If you've got multiple subscriptions to various on-demand services, such as Amazon Prime, Netflix, and Sky consider whether you need them all.
Could you even just get by with Freeview, which couldn't cost you anything extra each month for TV.
Also make sure you're not paying for Netflix twice via Sky and directly.
Haggle for a discount
If you want to stay with your provider, check prices elsewhere to set a benchmark and then call its customer services and threaten to leave unless it price matches or lowers your bill.
Switch and save
If you don't want to stay with your current provider check if you can cancel your contract penalty free and switch to a cheaper provider.
A comparison site, such as or , will help you find the best deal for free.
And despite spending more than £200 a year on mobile phone bills, a quarter have never changed provider to see if they can get better value for money.
And nearly a third don’t ever compare or look at alternative options for their mobile phone contract – despite being something they frequently use, with 20% not even sure what’s included in their current plan.
But the research, conducted via OnePoll, found nearly half would be happy to switch service providers if it was an easy process.
While 19% would do so if they knew they were getting a product which was bespoke to their needs, with 31% wanting more data if they were to change their smartphone plan.
The findings come after a recent Which? report revealed customers are potentially overpaying by more than £400 a year as their operators continue to charge them the full price of their contract even when they have paid off the cost of their phone.
To help combat this, O2’s customisable plans separate the handset and airtime costs, ensuring customers don’t end up paying for a phone they already own.
Nina Bibby added: “Our industry leading custom plans give users complete control and flexibility over how and when they pay for their device.
“From choosing how much they pay upfront to how they want to spread the remaining cost of their device, customers can create a flexible and individual plan to suit their budgets.
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