A report published recently on the usage details of the mobile phone consumers in the United Kingdom has revealed that they were wasting a total of almost GBP 5 billion per year owing to their maintaining wrong contracts.

According to the report this figure that is overspent equates to nearly half of their yearly spending on the mobile phone or GBP 195 in average compared to an annual average spend of GBP 439.

Tad above 76 per cent (3 quarters) of people on monthly packages are found to be paying a bit heavly for having signed up to deals after estimating wrongly the number of text messages and minutes used by them.

The report has been made from a study carried out by Bill monitor, a bill analysis service approved by the telecommunications regulator of the United Kingdom, Ofcom. Millions of transactions were analysed by the study from thousands of bills, were it found out that in total 33 million mobile subscribers of the United Kingdom were wasting almost GBP 5 billion per year due to this problem.

The calculations made in the study of Bill monitor had considered not just the handset costs and the tariff, but also the all usage costs by line by line accounting of the bills of the customers for coming up with an exact bill cost.