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Money Saving Tips
photo credit: Ken Wilcox.
In business and even life in general we are always looking for new ways to cut down on costs and save some more moeny. This is especially true today in our troubled economy, we could all use money saving ideas right now. Below are a few tips on saving money that was recently talked about on National Spending Journal.
Shoeboxed does the grunt work so its users can efficiently manage their expenses and safely claim the deductions that they have been missing all of these years, automatically saving them time and money. A little bit of organization goes a long way, especially in this economy.
Explore the Black Box, this is the time between you noticing a product and the time when you actually purchase it, about a 15 second interval. So it stands to reason that even in business when purchasing new equipment, office supplies, etc. if you took an extra 15 seconds to think about it, you may find that you really don’t need it.
Always remember that the best things in life are free! That’s right, take advantage of what is out there free of charge. Rather than purchasing every business book known to man, join your library and rent them. Sign up for services online that are free and there to help you with your business decisions and tasks.
How do you save money in your business?
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RedHotFranchises on June 10th, 2009 7:34 pm
One way is to keep the money you are saving separate from your personal spendable income. If yo have an existing Business, get an American Express business card, and you’ll earn cash back at the end of the year for everything you purchase for your Business
Jaclyn on June 11th, 2009 1:59 pm
Thank you for that suggestion regarding the American Express business card…that is a great idea for businesses to partake on. Another good one is the Plum business card which is fairly new but work’s about the same way that the American Express Business card does.
Ellen S. on May 9th, 2010 6:16 am
The concept of “saving money” is easier said than done for most people. I understand that it is ‘easy and logical’ for some people, but I also understand it can be a difficult habit to break for others.
If you’re looking to save money or change your lifestyle, my advice is to take it in “baby-steps” because it won’t happen overnight. Here are some tips that helped me out.
1. Always pay more than the minimum on any credit card payments – if you don’t believe me you can calculate it for yourself (http://www.csgnetwork.com/creditcardmincalc.html)
2. Use coupons when grocery shopping
3. Try online shopping – it’s saves on gas & they have bigger markdowns (http://www.shoptivity.com)
4. Read a book – it’s cheaper than going to a movie (http://onlinebooks.library.upenn.edu/)
5. Know your budget! (https://www.dl.ed.gov/borrower/BudgetCalculator.do)
Good luck and happy savings!
Ellen S. on June 9th, 2010 3:04 am
I think most people would agree that saving money is something “easier said than done”. Personally, I believe it’s a mind-set that needs to be developed by creating good money-saving habits.
Here are some things I’ve done to help change my spending habits:
– Cook more at home ( Eating out is very expensive especially
if you do it a couple times a week
– Try shopping online ( You can find better deals than in the
store and you save on gas (I recommend HYPERLINK
“http://www.shoptivity.com” http://www.shoptivity.com)
– Pay the full balance on credit cards each month ( Interest
charge is like giving away free money
– Don’t forget to pay yourself ( Set up an online savings
account (they pay higher interest than a normal savings
account)
– Set a budget and goals ( It’s good to have your goals
written down so you see them everyday and don’t lose focus
on your ultimate objectives
Again, saving money requires a lot of patience and hard work. However, you’ll thank yourself later on in life. Good luck everyone!! =)
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