finder.com based the calculations on a household of two adults, with a standard home insurance policy, using the average electricity and gas consumption for two adults, standard broadband, two mobile phones, two credit cards, two savings accounts, two personal loans, one car and a mortgaged home.
Mobile (including handset). This saving is for two phones; contracts including a SIM and the cost of the handset make up around two-thirds of the postpay mobile service market. The savings calculated were based on the amount overpaid when two adults in the same household remained with the same provider on the same contract after the initial contract period had ended and the handset had been paid off.
Energy. The saving is for an average household on a dual fuel policy paying by direct debit; it was calculated by Citizens Advice, which compared the average gap between the standard variable tariff available and the cheapest deal for a medium user on dual fuel.
Home insurance. Citizens Advice calculated the saving for an average household on a combined buildings and contents policy, if the bill payer chose to renew after one year, by comparing the average difference between the initial price a new customer pays and the price offered on renewal.
Savings account. Calculated by Citizens Advice using the average variable and one-year fixed cash ISA monthly interest rates from March 2017, as published by the Bank of England, and the average balance in ISA accounts as published by HMRC. Based on two people living in the same house, each with a savings account. The difference is based on the interest earned on a one-year fixed rate cash ISA, and the interest from a variable rate deal.
Broadband. The saving for broadband customers per year was calculated by working out the difference between the cheapest basic broadband contract and the price customers pay after the initial contract period ends, which worked out as a 43% increase on the initial price, according to Citizens Advice.
Mortgage. The saving available per household for an average standard variable rate payer. This was calculated by Citizens Advice by working out the difference between the amount an average customer pays after they are moved from a two-year fixed mortgage to a standard variable rate (SVR) deal, and comparing it with the amount they would pay as a new customer with a fixed rate. This figure is typically higher for first-time buyers.
Credit card. Finder calculated this using the average household credit card debt; our saving was based on two cards per household and the average interest rate. This was compared with how long it would take to pay off a debt of £2,634 on a 0% balance transfer credit card over 16 months.
Personal loans. The saving for personal loans was calculated by Finder using an average personal loan figure of £2,080 and comparing the average rate with the lowest current unsecured rate on the market.
Car insurance. The average saving for a driver who has been with the same insurer for eight years was calculated by Consumer Intelligence, which compared the price of that driver renewing their policy per year with the cheapest available on the market.