More spent on tech services than on utility bills

More spent on tech services than on utility bills: Consumers in the UK spend less on utilities than they do on tech such as TV subscriptions, mobile phone contracts and music streaming services.

A new study from mobile network operator O2 has shown, which found compared to an annual budget of £1,491 for utilities, consumers pay an average of £1,555 a year on tech-related bills.

The average customer spends £926,720 across a period of 63 years on gas, electricity, water, phone and other bills, the survey of 2,000 people also found.

Seven-in-ten people won’t compare prices and switch deals the findings in the report reveal – almost a third of consumers think that switching suppliers won’t save them money on bills.

Chief Marketing Officer at O2, Nina Bibby said: “Our research shows just how much unnecessary expense we outlay over the course of our lives.

“Time-poor consumers struggle to prioritise the admin of switching things up which is why it is vital businesses do more to provide greater transparency over contracts, and that customers aren’t being penalised for loyalty.”

More spent on tech services than on utility bills

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