THE RISE OF ‘TECHONOMICS’ – EE REVEALS FAMILIES ARE USING TECHNOLOGY TO EARN NEARLY £1K A YEAR

• EE, the UK’s best network provider, reveals the creative ways people are earning and saving money during the cost of living crisis thanks to a few clicks and swipes
• Half (49%) say they have turned to side-hustle apps to boost income, including selling sunset snaps and renting out their driveway
• With more Brits practising ‘Techonomics’ to add more value, over half (56%) are investing in quality tech products compared with this time last year
• EE offers Family Data Sharing, Stay Connected and free MOTs for smartphones, giving more on the UK’s best network, while keeping families connected for longer

Today, EE research reveals the innovative ways families are using technology to save and even earn money during the cost of living crisis – including selling holiday pictures, hiring out their driveway and loaning their dogs.

Half (49%) of UK households now admit to using creative ways to earn more, with the average household generating an extra £910 a year, thanks to their side hustles.

This includes using tech to sell pictures such as sunsets or pretty views from your smartphone to be used as stock images online (6%), getting paid to reach online game milestones (10%) or becoming a part-time tour guide in your local town or city (6%).

The research* of 2,000 UK consumers reveals out of those practising so called ‘Techonomics’, people in Glasgow have the most side hustles going on, while Brighton residents are earning the most cash from tech hacks and side hustles.

The most popular ‘Techonomic’ hacks are reviewing TV shows (16%) and doing market research for brands (14%).

Following the surge in dog ownership when many people were working from home, households are now finding pets can be an extra income with one in 25 (4%) renting out their dogs for lonely or stressed people to walk and 6% earning extra cash by dog sitting for others.

Economists are warning the cost of living crisis is likely to hit younger adults hardest** due to lower levels of home ownership, lower real-terms earnings and less savings to fall back on. Despite this, four times as many under 35s say they are investing in better quality tech to get more value in the long term.

Consumers are also looking at the long-game when it comes to spending habits, believing that buying from a trusted brand is almost twice as important as getting the lowest overall price (31% vs 17%).

Sharon Meadows, Director of Broadband and Mobile at EE, said: “Getting through tough times starts at home, by squeezing the value out of every connection in the family.  With EE, there are lots of ways to get more out of the services you already pay for like family data sharing, phone trade-ins and repairs.

“Our research also shows how much people rely on good quality products that give more value. Whether that’s selling pictures of sunsets from your holiday or renting out your dog – EE’s plans can help more families stay connected for longer and unlock the value of side hustles.”

With many households having to find new ways to make their income go further, the research found mobile (19%) and broadband (17%) were the bills Brits thought gave them the best value for money, the research found, ahead of gas (7%), electricity (9%) and water (15%) bills.

UK’s side hustle hotspots:

Five ways EE is making it easy for customers in the cost of living crisis:

Stay Connected - EE is the only UK network that allows pay-monthly customers who use up all their data to automatically switch to a slower speed for free – letting them continue to use apps including WhatsApp and Google Maps. 

Family packages - EE customers can add other family members to their account and receive a discount of up to 20% off every new line as well as the option to ‘gift’ spare data to other people on their plan.

Free mobile MOT - Every year we offer customers a thorough health check for their devices with a diagnostic tool to make sure they are at their best and make recommendations on how to keep their device working beautifully.

Hand me on handsets – EE customers can pass on their old devices to a family or friend, or trade in their phone, tablet or watch to securely refurbish or recycle - saving an average of £140. And if buying new isn't in budget, why not go for a refurbished device? Expertly refurbished tech can save money in comparison to new devices.

Get a great deal more on your broadband – By selecting EE's Norton Security Premium feature then customers can protect up to 10 devices, including PCs, Macs®, smartphones and tablets with EE. This comprehensively prevents viruses, spyware, malware, and other threats and gives 75GB of secure PC cloud backup and a Secure VPN for devices. The package is worth £79.99, but with EE Broadband it is included at no extra cost, for a year.

ENDS

NOTES TO EDITORS

*Poll of 2,000 UK adults conducted between December 9th and 13th, 2022

**https://www.ftadviser.com/your-industry/2022/11/07/young-people-bearing-the-brunt-of-cost-of-living-crisis/