- 48% have looked at switching at least one of their utility service provider to find a cheaper deal
- 50% plan to switch their mobile phone plan provider to help cut costs
The cost-of-living crunch is being felt hard by the British public with inflation at record high levels, leading to unprecedented increase in bills, as two thirds of the Brits expect their household bills to increase by up to £100 thanks to the latest energy price cap increase.
The research from telecommunications company, Lebara revealed that Brits are looking at ways to minimise effect of rising bills – with 48% of respondents saying they plan to change at least one of their utility service providers in an effort to save money.
With bills increasing, many Brits have expressed which bills they’re dreading will increase. Over three-quarters (77%) of respondents are most worried about their energy bill increasing, followed by 50% concerned about rising petrol prices and 46% fearful of the increase to their monthly food shop.
To combat the increases, Brits have claimed they will look at cutting down the following:
- 57% are turning off their heating
- 50% said they will order less takeaway or not eat out as often
- 49% will buy less or no new clothes
- 23% will cancel holiday plans
- 19% will cancel streaming services such as Netflix & Amazon Prime
- 17% will look for a cheaper supermarket to do their weekly shop
- 12% not buying a new phone and moving to a SIM only deal
- 11% are planning on asking for a pay rise or getting a new job
- 9% plan on cancelling their gym membership
- 2% might have to move in with their parents
Alongside these changes, 50% of Brits are looking to change their mobile network deal to a cheaper plan, with just under a third (31%) currently paying over £20 a month. When asked what most important factor would be when switching to a new phone deal, 73% agreed that price was the decisive factor, followed by 44% looking for network quality and 28% wanting no annual price increases.
The research also found that almost half (46%) of Brits are using 5GB or less data each month, which would allow them to save money by switching to a plan with a data allowance that is more closely matched to their usage.
Rajesh Dongre, Lebara UK Mobile Commercial Director said: “The British public is feeling the cost of living crunch hard and looking for ways to cuts costs, without compromising on the quality of service they are used to. At Lebara, we believe staying connected should be simple and affordable. Our SIM Only deals start from just £5 a month for 3GB data to £25 for Unlimited data with flexibility to change or even cancel at anytime as per individual needs. With Excellent Trustpilot Scores, EU roaming & free international calls included by default, No annual price increases and network reliability of Vodafone, you can say give ‘More for Less’. If you are spending more than £10 a month, I am confident, you are most likely to save significant monies with us.”