Are you still forking out for a phone you've already paid for?

Some 9.2 million people are currently paying a small fortune every month for phones that they've already bought in full. It sounds incredible, but it's a function of the fact that 70% of people have a monthly contract that comes with a 'free phone'. Naturally these phones aren't actually freebies, the cost is built into the monthly payment - so that over the duration of the contract you pay for the phone.

But new research has shown that almost a third of people on these contracts get to the end of the period and carry on paying - despite the fact that they've already covered the cost of the phone. If they switched they could save over £100 each.%VIRTUAL-SkimlinksPromo%