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How to save money when you are broke

Saving money can be hard, especially when living in a big city like London. My commute takes up £9.60 every day and between home cooked meals, meal deals and big bottles of soda, I have to add another £4 daily for food and drink. Going for a pint will empty my pockets quite drastically – even if the beer is for piss poor quality. Here are 5 tips to save money for broke people

Call your current providers and renegotiate your bills

Broadband, phone contracts, gas and electricity… those bills might feel like they take an incredible chunk out of your budget. And that’s true! But it might be worth it to pick up the phone and ask if there are better deals or even to renegotiate your contract. As someone that has worked in an inbound call centre, I can tell you that there are special departments for clients that say the Q word (yes, quit). They are often able to renegotiate your contracts and knock something off the price. It might not seem like you saved a lot… but all small things help!

Look out for new providers

If they cannot lower your bills, do feel free to act on your threats and start shopping around for new providers. Not only will you be able to sign up for “new customers only” offers, you will also be sure that you have the best deal available at that time.

Move to someplace cheaper

Rent is the bane of my existence. I hate paying rent but I would hate being homeless more. It might be interesting to move somewhere smaller and or cheaper. Do keep in mind that prices for food, transport and other necessities will change depending on where you live. For instance: going for a pint in Wetherspoon’s in central London will set you back about £3.5 to £4. In Woolwich, where I live, I would pay about a pound less.

Look at your Direct Debits

Direct Debits are the easiest things on earth. Bills get paid and you do not even have to think about them. But they can be a pain in the ass as well. Not only do you have zero to no influence over when they get paid, they are also easy to lose track and sight off. I am making it a habit to always check my direct debits. Especially the ones of my phone, to make sure I am not paying extra for something I do not need.

Check prices when you shop – seriously!

We all know that Lidl and Aldi are cheap and that buying own brand is the way forward when you want to save money. But still it is important to check prices and ask yourself if it is cheap or rather expensive. I have encountered products, both own brand and branded, in Lidl and Aldi that were actually more expensive than in high street. So please watch out when doing your shop because you could be wasting money where you would net expect it to. how to save money even when you are broke

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