Experts puzzled as Aussies fail simple $1k savings hack

Money experts have been left scratching their heads as unhappy Australians refuse to switch internet providers, despite better services and cheaper deals on offer.

New research from Mozo found that 61 per cent of Australians have never switched their internet providers, despite 17 per cent admitting that they are unhappy with their providers.

(Image: Supplied).
(Image: Supplied).

“With more than one hundred plans to choose from and significant savings of up to $1,017 on offer, it’s hard to understand why more people are not comparing prices, switching plans and pocketing the extra cash,” Tom Godfrey, Mozo spokesperson said.

“Although switching providers can feel like a hassle, a little persistence could see you halve your broadband bill.”

The Mozo survey found that Aussies could save up to 48 per cent on fast NBN (100 gbps) plans, with the most expensive coming in at $1,992 a year, compared to $975 for the cheapest.

“Whether you’re scrolling through social video apps or streaming your favourite TV shows, many of us are increasing the time we spend online,” Godfrey said.

(Image: Supplied).
(Image: Supplied).

“Yet even when confronted with frustratingly slow internet speed we are failing to compare plans and download the savings on offer.”

Australia’s NBN is placed 56th in the global index for fixed broadband speed, with Australia’s average download speed of 77.88 gbps shadowed by the global 101.12 gbps average.

And some Australians know it: 18 per cent of those who did switch providers did it due to frustratingly slow internet speeds.

But of those who didn’t switch, the hassle of changing was the main reason for sticking with their current provider.

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