Mobile phone users overspending by an average of £195 a year

According to The Guardian, UK mobile phone users are overpaying £5 billion a year to networks because they are on the wrong contracts. This is apparently equal to almost half a user's spent every year - an average of £195 wasted out of £439 spent annually.

I have not had a mobile phone contract for three years now and am happy for it. Since cutting off ties from o2, I've reduced my expenses to £120 a year (£10 a month on pay as you go). These days however I only spend about £40 annually on mobile web (plus the occasional £10 top up every six months for texts) as I do not use voice calls and hardly ever text because of WhatsApp.

If you think you are overpaying and would like to reduce your bills for one year, why not enter my Three MiFi v2 competition?