Look at the cost of everyday “essentials” versus how often they are used

A study of 2,000 adults showed how much people spend on different items to calculate the cost of each use as the nation feels the cost of living increase

The cost of everyday ‘essentials’ compared to how often they are used will amaze you with a contract phone costing you £1.56 per use and a smart speaker 7p per session.

A study of 2,000 adults showed how much people spend on different items to calculate the cost of each use as the nation feels the cost of living increase.

Based on an average monthly cost of £48.30 a month, Wi-Fi was found to cost £1.73 a day, or just over sevenp an hour.

When it comes to household items, a vacuum cleaner costs £158.80 and is used three times a week over seven years – costing owners 14p each time.

While a laptop costs 22p per use over nine years, an average of £526 is spent on the initial purchase.

The study was commissioned by exclusive all-glass internet service provider Hyperoptic, who have developed an online tool that allows you to calculate the cost per use of items ranging from broadband to gym memberships.

It comes after 53 percent said they’ve wasted money on something at some point in their life.

And one in eight have felt cheated after buying items they hardly use, with 60 percent wanting to make sure they get their money’s worth.

It also emerged that a comparison of monthly spend versus total cost showed that a mobile phone would reimburse those paying for the handset cost per month £1.56 each time it was used.

While upfront for the handset is just 64p a time, assuming it’s not replaced for a year and a half.

The transport cost 20p a ride on a bike which is kept on average for five and a half years before being replaced.

But public transport incurs a hefty £5.24 spend every time a tube or bus pass is used.

Charles Davies, MD ISP, Hyperoptic said: “Put in perspective, it’s interesting to see how much things cost each time they’re picked up and used – from cell phones that we use all the time to household items that we can only get used once a week if at all.

“Especially with the worst of the cost of living increases, people need to start considering both long-term spending and buying upfront to really get the best value for their money.

“Wi-Fi is of course the focus for us and is used over long periods of time throughout the day, especially with the increasing switch to hybrid working.”

The study also found that 68 percent of adults consider the initial cost when purchasing an item, while 59 percent think about long-term spending.

More than two-thirds also consider how long something will last when making a purchase, with 46 percent happy to spend more on a product they will use regularly.

The top items that Britons think they get their money’s worth with include the car (36 percent), the vacuum cleaner (37 percent) and the dishwasher (23 percent).

While gym memberships (15 percent), cell phones (14 percent), and Wi-Fi (14 percent) are the things people feel they overpaid for in their last purchase.

On average, Brits compare five broadband providers, seven bicycles and six televisions before making a purchase decision.

Worryingly, 43 percent have been surprised by a price increase in the past, and many have already seen heating bills (70 percent), public transport costs (47 percent) and mobile phone bills (36 percent) rise over the past year.

As a result, three in ten of those surveyed via OnePoll have quit or switched electricity providers and a quarter have switched Wi-Fi providers.

Charles added: “It’s interesting to see what drives people to switch and how many items or vendors compare adults before they make the move.

“Switching can lead to better value for money in the long term.”

COST PER USE:

1. Laptop: costs £526.10 to buy, is replaced every 109 months (9 years) and used 5 times a week = 22p per use
2. Buy direct car: costs £9804 to buy, is replaced every 35 months (2.9 years) and used 4 times a week = £16.25 per use
3. Car paid monthly: costs £135.60 per month (£33.90 per week) and is used 4 times per week = £8.48 per use
4. Vacuum cleaner: costs £158.80, replaced every 84 months (7 years) and used 3 times a week = 14p per use
5. Direct purchase mobile phone: costs £403.40, replaced every 18 months (1.5 years) and used 8 times a week = 64p per use
6. Contract mobile: costs £50 per month (£12.50 per week) and is used 8 times per week = £1.56 per use
7. Bike: costs £228.10, is replaced every 67 months (5.6 years) and is used 4 times a week = 20p per use
8. Smart speaker: costs £139.40, replaced every 90 months (7.5 years) and used 5 times a week = 7p per use
9. Wi-Fi: costs £48.30 per month (£12.07 per week, £1.73 per day)
10. Public Transport: Costs £83.80 per month (£20.95 per week) and is used 4 times per week = £5.24 per use