- Brits spend 114 minutes researching household bills to save just £12.62 per month
- Over half of Brits would rather save money on bill than earn interest on their savings
- Almost two-thirds of savers keep their money in their current account or linked savings account
Brits are spending nearly two hours researching utility providers and mobile phone contracts to save less than £13 a month yet continue to leave billions of pounds sitting in low‑interest or zero‑interest accounts that could be switched to better‑paying options in minutes.
New research of over 2,000 people from the Spring savings app reveals that consumers spend an average of 114 minutes researching household bills before switching providers. Despite this effort, the most recent switch saved households an average of £12.62 per month, with 40% saving £10 or less.
Broadband and mobile phone contracts were the most frequently switched services in the past year (28%), closely followed by utilities (20%) and TV subscriptions (20%). However, a third of Brits did not switch any service at all over the 12‑month period.
Looking ahead, consumers say they would consider switching if it could save them around £20 per month on average, with nearly a third motivated by savings between £11 and £20.
The research also highlights a behavioural disconnect, with 52% of consumers say reducing their bills feels more rewarding than earning interest on their savings. As a result, people appear far more willing to invest time trimming everyday costs than ensuring their existing money works harder for them.
Over six in 10 (63%) savers keep their money in either their current account or a savings account offered by their current account provider, which typically offer significantly lower rates than alternatives. Spring’s analysis of industry data found that £322 billion [2] sat in current accounts paying zero interest as at April 2026.
Surprisingly, of these balances, most are held in accounts with over £10,000, with over 6.4 million current accounts containing £10,000 or more, equating to balances of £227 billion at month end.2
To generate a savings income of £13 a month or £156 a year, savers would need to earn a rate of 1.56% or more on £10,000, with many savings accounts currently offering rates in excess of that. Spring’s easy‑access savings account connects directly to customers’ current accounts through Open Banking, offering a competitive rate of 3.82% and speedy, seamless transfers.
Derek Sprawling, Head of Money at Spring, said:
“What really stands out from this research is just how much time people will invest to save as little as £13 a month. Many are willing to spend nearly two hours researching bill providers to cut their costs yet continue to hold their savings in accounts offering very little return.
“This highlights a clear mismatch: people are eager to reduce their outgoings but don’t always take the same steps to ensure their savings are working as hard as possible. At Spring, we want to change that by giving consumers a simple and seamless way to make more of their money.”
Effortless saving
Open a Spring Easy Saver Cash ISA today. The Spring app uses open banking to connect to your current account, making saving seamless and simple.
To get started, download the app.
Notes to editors
Based on Censuswide survey of 2,001 nationally representative adults between 19.01.26-21.01.26
1. CACI’s Current Account & Savings Database (CSDB), Stock at April 2026.
Contact us
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