Aussies could speed dial their savings with a prepaid SIM

• • • • Australians could save a collective $669 million each year by switching mobile plans
      • 74% own their phone but just 34% are on a prepaid SIM-only plan
      • Cheapest plans and bundles for the new iPhone 11 (available in store 20 September)

18 September, 2019, Sydney, Australia - Aussies are costing themselves hundreds of dollars each year by sticking with unnecessarily expensive phone plans according to Finder, Australia's most visited comparison site.

A Finder survey of 2,085 people shows that the equivalent of 5.8 million Australians fork out $40 or more each month for a SIM-only phone plan.

These Aussies could be saving between $120 and $1,080 per year if they switched to a cheaper plan. As a nation, this represents $669 million in potential savings.

Postpaid SIM-only plans are the most popular option for those who own their own phone outright, with 40% locked into a postpaid plan. While, just 34% opt for a prepaid SIM.

Angus Kidman, editor-in-chief and tech expert at Finder, said that while there are good deals in the postpaid space, fierce competition within the telco industry has led to some highly attractive offers on prepaid plans.

"Prepaid plans have taken great strides forward over the past decade. Gone are the days of heading in-store to purchase credit. You can now recharge online and register for auto top-ups.

"Aside from convenience, prepaid offers excellent value. Some of the 2019 Finder Awards SIM-only plan finalists will set you back just $30 per month, and offer a whopping 30GB of monthly data.

"The no-strings-attached nature of prepaid plans make them a great option for many — they're certainly nothing to be sniffed at," he said.

The research also found that three in four Aussies (74%) bring their own phone to the table when signing up for a plan. A further 26% prefer to choose a phone and plan bundle contract instead.

The iPhone 11: Buy or bundle?
Kidman said that for those looking to pick up the new iPhone 11, paying up front has its perks.

"There are plenty of great phones on the market for $400 or less, but if you have your heart set on the new iPhone, you'll get considerably better value for money if you buy it outright.

"The $1,200 price tag may seem steep when you're paying upfront, but you'll generally get more international minutes and data in the long run if you can sign up to a SIM-only prepaid plan.

"By avoiding a lock-in contract, you can score as much as six times the data and save more than $400 over two years. You'll also be able to plan hop as better offers come to market," Kidman said.

Cheapest 24-month phone and plan bundles (by telco) for the iPhone 11 64GB

Best prepaid SIM card plans if you own iPhone 11 ($1,199)

What to look for in a prepaid plan

• Check the expiry period. Recharge expiries typically range between 28 to 31 days, but some can last as long as 365 days. Cheaper plans generally have a shorter expiry period.
• Data rollover. Some telcos will allow you to rollover any unused data at the end of the expiry period, but others adopt a 'use it or lose it' approach. Make sure you're across this before signing up.
• Unlimited calls and text. This is a fairly standard feature across the board, but some telcos also offer unlimited standard calls to select countries.