Most consumers are still paying too much for their broadband and mobile phone contracts, according to Moneysupermarket.com.

The price comparison website said 70 percent of Brits have separate providers for their TV, landline and broadband services but with broadband prices decreasing by 13.9 percent in the last year, consumers could save as much as £26 per month by purchasing a bundle of all three services from one provider.

"Dealing with different providers and organising various bills can be a nightmare. However, with bundled deals you'll receive just one bill each month, making it far easier to keep an eye on expenses. Also if something goes wrong you only need to ring one provider."

Consumers are also paying over the odds when it comes to mobile phone bills. Parker said most Brits never use anywhere near their calling and text allowance each month.

"People need to be more aware of what package they have and what's available to them. Monthly bills should be checked regularly and if consumers are using up all their allowance it's worth considering a move to a different tariff with more inclusive minutes and texts. It could save a lot of money in the long run."

Parker also urged consumers to review their deal when their contract runs out.

"Ultimately, people need to shop with their feet. When looking for a new mobile contract it's always a good idea to see if your existing provider can offer you a better deal. If your provider doesn't offer a reduced rate you can threaten to leave and look elsewhere. Operators will usually offer better deals to those who have been with them for a while. Loyalty is the haggler's best weapon."

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