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Saving on a budget

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Five More Easy Ways to Save Thousands a Year

Dec 6, 2017

0 min read

Piggy bank on a calculator
Five More Ways to Save Thousands a Year

Wouldn’t you like to save a little extra cash every week? The savings are right in front of you—if you know where to look. It may seem like just a few dollars at a time, but add up the money you could save over a year’s time, and you will have “made” an extra $4,000 over the year that would have otherwise been spent on nonessentials. As a savvy business owner, it will work to your advantage to use your money wisely and frugally. We’ve already shared ten of our favorite tips to help you save $5,000. Here are a few more small changes you can make on a daily basis that will save you money—cash that you can use to invest in and grow your business.

  1. Make Coffee at Home: That $3 cappuccino habit adds up over a year, but a good to-go mug is a wiser investment. When you do order coffee on the go, some coffee shops offer a discount for using your own cup, and they sometimes have a frequent buyer program with rewards. Savings: $15 a week.
  2. Seek Out and Use Rewards Programs: Your grocery store, gas station, or any other businesses you frequent may offer savings or discounts that you can access just by signing up. Some grocery stores will also send you coupons based on items you typically buy, and you can find additional coupons in the newspaper or online. Many businesses offer a certain percentage off of your purchases for being a frequent buyer or purchasing certain amounts of certain items. Savings: $15 a week.
  3. Shop Online and Earn Rebates: Companies such as MyPoints.com, Ebates.com, and Swagbucks.com allow you to receive a percentage of the money you spend back in cash or gift cards when you shop through their sites. Many of these sites also offer points or credit earned not by spending money but by participating in parts of their sites (such as watching videos or taking surveys). $15 a week.
  4. Buy Beverages in Bulk: Take soft drinks to-go rather than purchasing them on-the-go. Convenience stores markup individual drinks you can get much more cheaply from big box stores. If you plan ahead and purchase a six-pack or two of your favorite drink, you’re saving a fair amount while still being able to enjoy your beverage of choice. Savings: $10 a week.
  5. Shop Around: Call insurance providers to get the best rate, and do your research before making big purchases. A half-hour searching online or on the phone could be time well spent. There are lots of deals to be found and the savings can add up quickly. There are numerous apps that will assist you in your search for the best deal, and some that will even monitor the purchase price of the item both before and after you buy it and price match. $20 a week.

Some of these tips may be easier than others for you to implement. Not to worry! Introduce some of these tips into your normal routine one at a time, and soon you’ll start to notices savings on a daily basis. Once you start to see results, you’ll be inspired to do more. From there, the money you save will begin to grow and the sky is the limit!

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10 Easy Ways to Save $5,000+ Each Year on a Tight Budget

Nov 29, 2017

0 min read

10 Easy Ways to Save $5000 a Year on a Tight Budget

Looking to save a bit of money in the year ahead? As a business owner, the more money you save, the more of your money you can put back into your business. But where do you start? Finding ways to save money on a tight budget can be challenging when you’re already living a pretty frugal lifestyle, but you might be surprised how quickly small changes can add up to big savings by the end of the year.

Here are 10 easy ways to save money on a tight budget and make an extra $5,000 or more every year:

  1. Avoid the Idiot Tax: Unnecessary expenses include parking tickets, late fees, and overdraft fees add up quickly and can be eliminated completely by carefully reading street signs, managing your calendar, and scheduling important events. Savings: $720
  2. Pack Your Lunch: Convenience costs money, so bring your lunch or carry snacks with you instead of eating out or stopping at convenience stores. Savings: $1,040
  3. Control Your Vices: Cigarettes, lottery tickets, and alcoholic drinks put an unnecessary dent in your wallet. Make a conscious effort to cut down (if not quit altogether) on impulse-driven, nonessential items. The money you’ll save will be worth more than you’re ever likely to win on those weekly scratchers, and cutting down on your other vices can help you feel healthier and more energetic as you try to manage your business. Savings: $600
  4. Right-size Your Tech: Be realistic about your phone, media, and entertainment needs. Do you really need all those bells and whistles? Become familiar with the details of your cell phone plan and cable bill, then streamline features to suit your needs. Rather than subscribing to cable services that include all the premium channels, save big with subscriptions to services like Netflix or Hulu, with lower barriers to entry. Savings: $720
  5. Play Outside: Instead of springing for weekend getaways that require hotel stays, pack your tent and head out for a camping trip to your local national park. Skip the pricey gym membership, and take up hiking, jogging, or swimming to stay fit on the cheap. Or, join a local sports league and get in an awesome workout while you make new friends. Even an investment in a treadmill or other piece of at-home exercise equipment will pay for itself quickly and allow you to exercise any time in any weather in the privacy of your own home. Savings: $240
  6. Go to the Library: Public libraries offer numerous money-saving benefits, from free or significantly reduced rates on CD and DVD rentals to free tickets to local events or attractions. Savings: $120
  7. Cancel Unused Subscriptions: It’s easy to sign up for a “free trial” and then forget it will self-renew. Subscriptions you don’t use or can’t justify in your budget are taking money right out of your wallet. Savings: $120
  8. Renegotiate Your Financial Commitments: Start by looking for better interest rates and lowering the payments on your student loans and credit cards. Sure, lenders might deny your request, but you’ll never know if you don’t ask, and you might just be surprised by what they can offer you. Savings: $1,200
  9. Consider Renting Out a Room: If you have the space, consider renting out a room via Airbnb or a similar service during high demand times in your area, or share the space you’re already using by finding a roommate to pick up half the rent. Savings: $800
  10. Set a Weekly Budget: Take out cash, and use only that. It’s very easy to overspend when you use your debit/credit card, but when you see the cash dwindling in your wallet, you become much more thoughtful of what you spend. Savings: Limitless!

Even a small step can lead to big changes and, in this case, even bigger savings. Many of these money saving ideas are easy to implement, and they could provide benefits that go well beyond the money you’ll save, such as financial freedom for you and your family. Most importantly, living within your means can reduce the additional stress you have to manage as you work to keep your growing business healthy. Every cent you save is just one more penny you can use to help your company reach its goals.