Minimum Contract Term over - Options?

[AC-83]

Hi,

my minimum contract term is over but I am still paying off my phone. Can someone advise me of my options to reduce my bill? Can I swap to a new sim-only contract on the same phone to reduce my bill? Or am I better off upgrading contract and phone at the same time by paying the outstanding balance on my phone (£70)?

Any advice would be greatly received. 
Thanks

[MI5]

@AC-83 

You can upgrade to a cheaper sim only deal and keep your phone as is.

Use USwitch
https://www.uswitch.com/mobiles/compare/sim_only_deals/o2/
Choose the deal you want
This will automatically redirect you to the O2 website
Just follow the prompts and choose the UPGRADE option
Complete the deal and nothing on your account changes except the tariff at the new cheaper cost
Payment date is the same and your next bill will be cat a cheaper rate and will be made up of the pro rata cost of your old tariff and your new tariff
The change should show in My O2 within 24 hours
Volt benefits will still apply as will possibly a 3 month extra such as Disney+

[Oxonian]

@AC-83 

The staff at your local O2 store will be please to discuss your options with you and to give you advice :-

Store locator | O2 UK | Find Your Nearest O2 Store

https://stores.o2.co.uk/

However, they will not be able to match the prices on USwitch to which @MI5 has made reference.