Yahoo Finance How to save $1,194 a year in a few clicks
Households could save up to $1,194 a year by switching to a cheaper broadband provider, with some Aussies overpaying for their connection by up to 58 per cent.
Tom Godfrey, Mozo spokesperson, said it paid to look past the big-name brands when choosing a broadband provider.
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For example, Mozo recognised Flip as the broadband provider of the year, with Belong, Mate, MyRepublic and Occom also identified as top providers.
“While you might not have heard of some of these smaller broadband providers, it really does pay to look past the well-known names and seek out those offering potential savings,” Godfrey said.
When selecting the top broadband providers, the comparison site took into account the cost of plans, account set-up costs, monthly charges and the price of modems.
Broadband prices are set to increase nationwide, with Australia’s wholesale broadband provider, NBN Co, recently lodging a submission with the Australian Competition and Consumer Commission, indicating basic broadband prices could double over the next 10 years.
“As cost-of-living pressures continue to hit home, taking the time to compare your personal finance products such as your home internet and looking for potential savings can really pay off,” Godfrey said.
“We found something as simple as comparing broadband plans online and switching to a more competitive offer could significantly cut your costs.”
How to choose the broadband plan that’s right for you
Just by switching from the most expensive to the cheapest ‘Standard Plus’ broadband plan, customers could save as much as $1,194 over a 12-month period.
Godfrey said there were a few variables to consider when choosing a broadband plan, including download speed, type of contract and price.
It’s important to choose the right download speed to suit your household to get the best value.
As a rule of thumb, 50mbps is appropriate for a household where one to two people may be watching TV or listening to music.
In households with several users online at the same time, 100mbps will allow multiple users to stream television or play online games at once.
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