Switching mobile contract and recycling 'could save money'

18 February 2009 — 3:30 PM

Today's economic squeeze is giving consumers better incentive than ever to demand money for old phones, according to one newspaper.

The Telegraph suggests recycling mobile phones is a good way to garner some extra cash and beat the credit crunch.

In a list of money-saving ideas, the publication argues used phones can earn as much as £100 from recycling companies.

Switching mobile contracts is another suggestion to boost finances - the paper cites several companies offering cash to new customers if they ditch their current providers.

However, the paper warns: "Make sure these bonuses are not cancelled out by any savings you could make by haggling with your current provider."

It is not the first time phones have made it onto money-saving lists. Last month finance site Fool.co.uk reiterated the benefits of recycling handsets, adding some companies even exchange old phones for shopping vouchers.

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