It is ‘essential consumers do not overspend’

Government spending cuts and tax increases could be causing significant debt worry.

It is therefore essential that consumers do not overspend unnecessarily, Michael Phillips, product director at Consumer Choices, suggested.

The industry expert was speaking in response to a survey conducted by his company that found many broadband users are paying too much for the service.

It revealed households are forking out around a third more than is necessary on outdated legacy tariffs.

Mr Phillips observed: “We all know that the near future will bring additional financial strain … so it is vital that consumers do not needlessly overspend.”

Despite broadband now being viewed as an essential utility, it is often overlooked when homeowners attempt to lessen their monthly bills, he added.

It was recently suggested following a survey by Consumer Focus that individuals in the UK could recoup substantial amounts of cash by selling unused goods, such as mobile phones.

By Joe Shervin