Invest
Savings to be found by making the prepaid mobile switch
Australians could collectively save $669 million each year by switching to cheaper prepaid plans, it’s been revealed.
Savings to be found by making the prepaid mobile switch
Australians could collectively save $669 million each year by switching to cheaper prepaid plans, it’s been revealed.
Comparison site Finder surveyed 2,085 people and found that the equivalent of 5.8 million Aussies are forking out $40 or more a month for a SIM-only phone plan.
These consumers could be saving between $120 and $1,080 per year if they switched to a cheaper phone plan, Finder said.
Combined, these savings would be worth a whopping $669 million to consumers.
Angus Kidman, editor-in-chief and tech expert at Finder, has cited an increase in competition as leading to highly attractive prepaid plans being on offer.
Noting prepaid plans as having taken great strides forward over the past decade, he commented: “Gone are the days of heading in-store to purchase credit. You can now recharge online and register for auto top-ups.”
iPhone 11: Buy or bundle?
When it comes to the newest gadgets and trends, Finder said consumers looking to get the latest iPhone should pay for the phone up front.
While the upfront cost of $1,200 might seem steep for consumers, they would get greater value back through international minutes and data if they sign up to a SIM-only prepaid plan, it offered.
Mr Kidman noted that “by avoiding a lock-in contract, you can score as much as six times the data and save more than $400 over two years”.
He also said that you’d be better placed to “plan hop” as better offers come to market.
What to look for in a prepaid plan
Finder has offered up a number of tips of the factors consumers should consider when comparing prepaid plans.
Check the expiry period – Recharge periods range between 28 and 31 days, but some can last 365 days. Cheaper plans generally have a shorter expiry period, according to Finder.
Data rollover – Before signing up, be sure to check whether the telco allows for unused data to roll over on each top-up.
Unlimited calls and text – While this is now a standard feature across the board, some plans will also offer consumers unlimited calls to selected countries to sweeten the deal, Finder noted.
About the author
About the author
Spending
What did Aussies spend their super on?
Aussies who took advantage of the controversial early access to super scheme spent the majority of their money on mortgages, rent and household bills, with just one in eight saving their super for a r...Read more
Spending
Consumer spending set to boost economic recovery
Australia’s recovery from the COVID-19 downturn looks to be buoyed by a wave of consumer spending, as Aussies increase their spending habits post-lockdown restrictions, new studies have revealed. ...Read more
Spending
Trans-Tasman border open for the first time in nearly 400 days
Quarantine-free travel between Australia and New Zealand has restarted for the first time in over a year, with the Prime Minister pointing to a further expansion of the bubble. ...Read more
Spending
Google found to ‘partially’ mislead consumers
Google has “partially” misled consumers by collecting some data on Android and Pixel phones even after the customer ticked “No” or “Do not collect”, a court has found. ...Read more
Spending
Energy prices fall – how you can cash in on the $900m saving
Households are being urged to check the price they are paying for electricity after it was revealed that prices across the eastern seaboard have fallen significantly in the back half of 2020, official...Read more
Spending
Aussies choose to shop local in pandemic recovery
Australians are increasingly turning their attention to homegrown businesses and brands as they look to help the country recover from its first economic downturn in nearly three decades, new research ...Read more
Spending
Awareness of BNPL surges as consumers look for alternative credit
Consumer awareness of buy now, pay later services, including AfterPay and Zip, continues to grow as Aussies look for alternative ways to make purchases. ...Read more
Spending
Tap for Uber, share bike in world-first trial
The NSW government has announced that thousands of Sydney commuters will be able to pay for various modes of transportation through their Opal cards, receiving discounts in the process. ...Read more
Is the market overheating; should ETFs take your fancy, and what’s happening to the low and middle income tax offset?
Listen now
Home values up 30% (or are they); NFTs taking the world by storm, and why Keating thinks Aussies will be ‘poor’ in retirement
Listen now
Raging floods, the tech stock bubble and the ongoing SG debate
Listen now
Meet the Manager with Trilogy’s Philip Ryan: RBA rates and property price growth
Listen now
Spending
What did Aussies spend their super on?
Aussies who took advantage of the controversial early access to super scheme spent the majority of their money on mortgages, rent and household bills, with just one in eight saving their super for a r...Read more
Spending
Consumer spending set to boost economic recovery
Australia’s recovery from the COVID-19 downturn looks to be buoyed by a wave of consumer spending, as Aussies increase their spending habits post-lockdown restrictions, new studies have revealed. ...Read more
Spending
Trans-Tasman border open for the first time in nearly 400 days
Quarantine-free travel between Australia and New Zealand has restarted for the first time in over a year, with the Prime Minister pointing to a further expansion of the bubble. ...Read more
Spending
Google found to ‘partially’ mislead consumers
Google has “partially” misled consumers by collecting some data on Android and Pixel phones even after the customer ticked “No” or “Do not collect”, a court has found. ...Read more
Spending
Energy prices fall – how you can cash in on the $900m saving
Households are being urged to check the price they are paying for electricity after it was revealed that prices across the eastern seaboard have fallen significantly in the back half of 2020, official...Read more
Spending
Aussies choose to shop local in pandemic recovery
Australians are increasingly turning their attention to homegrown businesses and brands as they look to help the country recover from its first economic downturn in nearly three decades, new research ...Read more
Spending
Awareness of BNPL surges as consumers look for alternative credit
Consumer awareness of buy now, pay later services, including AfterPay and Zip, continues to grow as Aussies look for alternative ways to make purchases. ...Read more
Spending
Tap for Uber, share bike in world-first trial
The NSW government has announced that thousands of Sydney commuters will be able to pay for various modes of transportation through their Opal cards, receiving discounts in the process. ...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
