Frugal Money Saving Tips for Small Business Owners

Small Business Owner Money Saving Tips

When you are first trying to get a new business off the ground, one of your number one priorities will likely be saving money. As a small business owner myself, I remember spending huge amounts of time looking for all the frugal money saving tips I could get my hands on. Even as your business starts becoming more self sufficient, the bottom line will always mean finding ways to ensure that profits exceed expenses.

I asked a group of small business owners to share some of their favorite frugal money saving tips. The number of responses was almost overwhelming but with tips this good, I wasn't willing to leave even a single one out. This article presents those tips, in their own words. I hope you find a few that will be effective for you!

SEE YOU AT THE TOP!

Texas Web Designer and SEO Training Specialist
Owner GNC Web Creations and Mississippi Photo Gallery

We saved a quite a bit of money setting up our own FedEx Ground account rather than bringing our shipments in to the local hardware store. With most of our shipments weighing around 95 pounds we are saving approximately 40% on shipments having our own account. Add to that the fuel savings and saving in time, it's great. An added bonus is not having to handle the heavy packages one more time. Everything is scheduled and the labels created online, it's very convenient.
 

  --  Jim and Bonnie Kaczmarek

Lawn and Garden Equipment Shop Owners

Jim's Repair/Jim's Tractors

Hastings, Minnesota, USA

Because many of the items we sell are large and heavy, one of our biggest expenses is shipping. Sometimes the shipping can be as much or more than the product we sell. We've found that FedEx works best for us. By paying for our FedEx charges with American Express we get an additional 5% off.

Another benefit is that the American Express bill is so detailed that it makes it easier to track the cost of individual packages.

  --  Wesley Saxon, Business Owner,

Saxon Nursery, Inc.

Waynesboro, GA

As the mother of two young children, the best tips I have found for saving money have been exclusively breastfeeding each child - a year of formula would have cost around $1500 for each child, and learning about cloth diapering. By using our reusable resources, we figure we have saved over $1800 for each child in not buying disposable diapers, and have felt good about our saving our environment at the same time.

Having a set location to keep your bills saves money - no late fees, lost or unpaid bills. We keep a notebook with a pocket in it on our desk - when a bill comes in, it gets written on the notebook - the date received, bill, amount due, date due. Then there is a column for the date paid and the amount paid. The bill goes in the pocket until it is paid, and written off as paid when it is sent. The notebook is a plain spiral notebook with a pocket that we bought about 5 years ago for $1, and we use a new page for every month. It is simple, but we have not had a single late payment on our bills since we started our system 5 years ago. Not a bad investment for a dollar. I have a separate notebook for my home business bills.


  --  Tara L. Guy

HypnoBirthing and Breastfeeding Educator

Rocky Mountain Baby

Pueblo West, CO, USA

I've found that the best way to save money is not to spend it! Easier said than done? Not really. Other than our house and cars, we have very little debt. We only have one credit card. We would only accept a credit card from a company with no yearly fee and an extremely low interest rate. We never pay the minimum payment on our credit card. If possible we pay the entire thing off each month to avoid any finance charges. If we want to spring for something big, like a special vacation (we love to travel) then we save up for the basic costs (transportation and motel) and use the credit card for the rest with a goal in mind of paying it off within the next three months.

The bottom line is planning and research. Know how much things cost and how much you'll need to live plus x-amount to have fun with. My husband and I have been married 6 years. We've taken vacations to Atlantic City and a tour of the New England Coast (for our honeymoon), Arizona (amazing scenery - part of it looks like you're living on the moon!)- hubby had to go to a seminar there so his transportation was paid for plus the first 3 days lodging, Bar Harbor, Maine (don't miss Jordan's Pond!), two days in Niagara Falls and three days in the Finger Lakes Wine country during their Oktoberfest festival (hmmm don't remember much of that... kidding)

Las Vegas, another seminar - his transportation paid for, and 3 days accommodations at the Hilton PLUS an upgrade to a suite because the first room they gave us a key to was occupied - we opened the door and the person's laptop was open on the bed, the TV was on and we could hear the shower running - yikes!, a cabin at a National Park in West Virginia, and to Nashville, TN for three days of honky-tonkin' (Great city!). Plus numerous camping/canoeing trips - hubby is an expert white-water canoeist.

And no, we aren't rich. Hubby is a Crimes Analyst for our city's police dept and I'm a medical secretary at the regional medical center. So you see, you can have your cake and eat it too - if you remember to save up the ingredients first.

  --  Susan Hawthorne, Jewelry Artisan

Hawthorne's Handcrafted Gallery

Portsmouth, Virginia

I knit jumpers and cardigans, gloves, hats and scarves, as these are cheaper than bought ones, and last much longer. You can also alter jumpers and cardigans when you need for growing grand/children. I also used to make clothes for them.

I make my own main meals. You can make three at once and freeze two - thus saving on heat to cook and time. You know what has gone into the meal - no preservatives and you can use fresh produce. I also bake cakes and cookies, as again you know what is in them.

I try to purchase programs from eBay thus saving some money. I help friends with their computer problems - thus saving them money and they repay me by giving me home grown produce - which saves me buying ;-)) I email as many friends and relatives as I can, so that I save time and money on stamps. I have a webpage of family photographs for family to view, as this saves money copying for them all.


  --  Jill Muir, Website Owner

Kingston Bagpuize with Southmoor W.I.

Oxford, Oxfordshire, England, UK

Former Chef turned Work At Home Mom's Tips

I belong to Sam's Club. They just opened one closer to my house, so now that I don't have to drive an hour to get there it's worth it. I signed up for the Business Membership. Why? It was $35 and the personal memberships were $45. I still got a second card for my husband for free, so it didn't matter that it's the business membership. I just have my company name on my card. Big deal. Well it does get me extra perks like I can get in there at 7am to shop and the personal membership members have to wait until 10am. I'm sure closer to the holidays that will be worth it alone just to avoid the crowds.

Since I joined there, we've been buying in bulk. Cereals that run almost $4 a box at the grocery store I can get the jumbo box with the equivalent of 2 bags in it for under $5.50. That comes in very handy to save a few bucks since my oldest is autistic and HAS to have certain foods in the house at all times or she flips out. Of course she only eats a total of 12 different foods, so it's not that difficult to arrange my shopping to make sure she has everything she will eat in the house. With the buying in bulk from Sam's, our grocery bill is down to $300 a month when it was getting close to $500 before Sam's opened.

There I can also get the 9 x 11 disposable pans so I can batch cook things in advance. Who needs expensive frozen dinners when I can cook on a weekend and have pans of things frozen and ready to heat and eat? Less sodium, less fat, and less preservatives too.

The most used appliances in my kitchen are the George Foreman grill, the dehydrator, the slow cooker, and the vacuum sealer. The grill is great for making grilled cheese sandwiches for the kids without having to fire up the stove. That saves a bunch on the electric bills and the kids love it. The slow cooker is great for making dinner without needing much work. I check online for different recipes and always find new things I can just toss everything into the slow cooker and let it go all day. That's a big time saver, and using the slow cooker I can use the less expensive cuts of meat that would normally be too tough. Slow cooked they just fall apart in your mouth.

The vacuum sealer I use for everything from packaging bulk things into smaller packs, to making cook in bag sandwiches, to making up cutlery packs to toss into my husband's lunch cooler.

The dehydrator is just a dream appliance. I make our own jerky, I can make fruit chips, fruit leather, and I've been able to take left over gravy and dehydrate it down to a powder. I keep that in a canister and just toss some into a pan and add water when I need gravy fast.
 

  --  T. Wells, Business Owner

Mother's Unique Designs

Latrobe, Pennsylvania

Let me tell you about all of the FREE things you can do to save money while building your business. Now I didn't mean "free from headaches" or "free from long nights" or "free from complete disasters," but there really are lots of things you can do to save money when starting your business. Remember these words: YOU can do it!

I am my own webmaster. I'm my own publicist, manufacturer, accountant and secretary. I am even my own distribution center. You can do it too. Use Microsoft FrontPage to build, design publish. own and control your website.

Donate new products to charity auctions and send free samples to local reporters, teachers, or civic organizations to spread the word about your business. Ask or beg friends and family with graphic design experience to create your logo, banners and site design as an in-kind donation (be sure to recognize their work on your site).

Learn how to use usps.com for free shipping supplies, free tracking and confirmation, and you can quickly become your own packaging and distribution plant! For priceless (and free) business advice sent directly to your inbox every day, join Cricket's SEO Class and join MomPack.com. Remember: YOU can do it!

  --  Sally Gemignani, Business Owner

Polka Dot Market

Farmington, Michigan

One of our best money savers is my trip list. I have a universal "Trip List" that we use anytime we go on a trip for any length of time or distance. We go down our list and either cross off what we don't need or check items off as we pack them.

We usually pack moderate groceries, especially if it is place that only wants you buy their food. If it is a long trip, then we will stop along the way and eat. If we go somewhere that wants you to buy their food, we eat before we go in and after we come out. Then we don't have to buy all the food on location, maybe only the lunch. This saves TONS of money. We only take items that are specific for each trip. For instance, outside trips could require sunscreen and my list reminds me. It keeps me from having to pay twice as much on location, and no one goes home with a sunburn, unless we leave it in the car. If we won't be outside then I cross it off the list and don't take any.

I carry a small shoulder pack with most of the items that we might need so that we don't to buy the items on location. I have had people around me say that I must have the kitchen sink in my bag because I had 2-3 things that they were looking for. I try to have pens, band-aids, wipes, a small snack, basic wallet requirements, tissues, emergency rain ponchos (if rain is possible) and other items in my bag for convenience and so that we don't pay high prices. I try to pack things light and small so that it is not much heavier than a purse. If you have a black shoulder book bag, even teenage boys will carry it. Make a list for yourself and change it as you go along or see my trip list as a base and then add your own ideas. I have saved so much money not buying things at premium prices.


  --  Tina Gibson, Business Owner

R2k Motorsports

Bethel, Ohio

One thing we do that's always helpful is to shop for toiletries, towels and such at the local discount stores that sell items for a dollar or at significant discount. We even buy treats for the boys at one of them - they have a lot of the stuff they like at a much cheaper price.

We're able to find quite a few of the non-perishable and seasonal goods we need at these places - snow shovels, garden tools, hoses etc. There's two stores within a two minute drive from our house, so even the trip is cheap!


  --  Dan Reinhold, WAHumorist

WAHumor

Duxbury, MA, USA

Buy clothing for the current season towards the end. Plan in advance and put it away for next time the season rolls around. You will pay up %80 less this way. For example we bought my daughter a new coat that she can grow into for $6 in February.

Learn to cook from scratch. Buying packaged foods and eating out costs significantly more than making it yourself. You can duplicate many restaurant foods at home without the extra fat and who knows what else.
I make my own breads, crackers, cookies, and rice mixes to name a few.

We make all of our cards and make an occasion of it. We all get together with the kids and pull out all the cardstock, stamps, glue, pens and spend a holiday making birthday cards, anniversary cards etc for the upcoming celebrations. A good time to get some scrapbooking out of the way too.


  --  Kemi Quinn, Website Owner

Homemaking Organized

Southwest Washington

One of the biggest money savers is paying off the mortgage early. Any money paid toward principal will help, especially early in the loan. I’ve calculated the interest rate per year that one pays on a 30 year mortgage – it is beyond belief. Now I know why everyone wants to lend mortgage money.

I have lost my hard drive a few times. Fortunately, I had nearly a full backup (I lost some artificial intelligence programs) and was able to recover easily. Adding up the time and money invested is incalculable if everything was lost. One never knows when a computer will fail. Or a nasty virus strike. Or a natural disaster. Or burglary. I always keep backups off site, just in case.
 

  --  Doug DePrenger, Business Owner
 

Home Computer Security Center

Henderson, Nevada

Business cards are an important part of your professional image, but having them professionally designed and printed can be a significant investment. I create my own business cards and either print them on heavy business card stock that you can buy at office supply stores and then tear apart, or have them printed by one of the online printing companies that can do this pretty cheaply. If I purchase stock to print myself, I always use the stock with clean edges, not perforated ones, which look homemade and unprofessional. Some of the online printing services offer very inexpensive promotional specials on a regular basis, and they offer very nice quality printing and card stock. I always opt to upgrade to heavier card stock. The additional cost is more than worth it for the added professionalism.

There are templates for business cards available from most of the online printing services, or you can use a design application to create your cards. Most of the online services also include dimensions for your artwork if you supply your own vs. using one of their pre-fab template designs. If you are using artwork that will extend to the edges, be sure to allow for "bleed" (i.e., extend the artwork beyond the dimensions of the card so that you won't accidentally get a white edge if the cutting is slightly off). The services will provide dimensions for the final/cut card size as well as the "bleed" size, which will be the full size of the artwork you need to provide including the extra margin of error.
 

  --  Margaret R. Schindel

Handcrafted Jewelry Designer

Polished & Put-Together

Chestnut Hill, MA USA

The very best way we have found to save money is to pay ourselves first. That is to say, we put money into savings before we spend money on anything else besides basic necessities. The first thing we do at the beginning of each year is write out a budget for all our basic needs; food, rent/mortgage, gas, utilities. Then we include all the expected expenses for necessary items, like school, clothes, toiletries, etc. . We add the basic needs and necessary items and then determine how much we have to spend and how much we can save reasonably. The leftovers are added in to cover all the other discretionary spending like entertainment, vacations, etc. By paying ourselves first and saving for our future we are taking care of the biggest stressor in our lives.

Creating a budget at the beginning of the year helps us to see what our basic needs will be and to know that they will be covered. We are also excited to see how much money we will be saving, knowing that is being set aside for our future.


  --  Anne Warrington, Gift Website Owner

Gifts By Delivery

Oceanside CA

When I got involved with the Internet 10 years ago, there was no way I could afford to hire someone to design a website for me (I can't afford that now, either!) So what I wound up doing - after messing around with free website hosts and their web-page building software - was to pick up a book on HTML and teach myself how to program a web page. When CSS came along, I did the same thing: found a book on CSS and taught myself.

Now I am the webmaster and designer of (currently) 8 different sites, and my only expenses for website design have been the cost of those two books plus the website hosting fees and domain name registration (for my own sites - my clients pay for their own). I use a free text editor to lay out my pages. I did have to pay for a decent graphics editing program and a scanner, but I had those anyway for my work as an artist.

  --  Jeri Woods, Virtual Assistant

Virtual Secretarial Support

Lacombe, Alberta, Canada

Saving money at my house is very important. I clip coupons and go to stores that double them. Not only do I save on my grocery bills but the store I go to offers a special where for every $100 spent on groceries I get a .10 cent discount per gallon of gas off my next fill up. In addition, I try to cook as much as possible and not eat out.

Most Sunday’s I spend the day cooking several meals of various types. I then make my own Quick Dinners and freeze them in the freezer. During the week I grab one and take it to work for lunch.

When it is time to run errands I plan where I need to go so I hit one location after the next. This gets my errands done quickly without having to spend too much in gas.


  --  DaNel Resha, Business Owner

Darswinkle’s Delights

Smyrna, TN USA

I saved upwards of $25,000 last summer, by selectively choosing which parts of a project to do myself and which parts to hire qualified help for. We (my teenaged son and I) did a major renovation turning a plain unheated garage into a studio/shop with heat, electricity and running water. By hiring out the electrics, plumbing, heating and drywalling and doing all the rest myself I saved half of the contractor's quoted price. I also saved the cost of moving a household from one town to another by driving all our worldly goods over in my pickup truck 1-2 loads a day for several months.

Admittedly, that is a rather large sum of money, but what did I lose by doing this? My website was neglected for most of last summer and fall and contains items that have long since been sold. I produced no new crafted works for my business and did no shows, generated little income outside of what came in from internet/website orders . My inventory and other business data was never brought up to date and needed a major sorting-out. I ended up exhausted and burnt-out. So , the next time I have an opportunity to 'save some money' I think I will pay more attention to what the real cost of the saving is, because sometimes $25,000 saved, isn't really.

  --  Renate Hotchkiss, Business Owner
 

TidesWell Cottage Artist Studio

Williamsford Ontario, Canada

With two small children in school, snacks and lunches can get pretty expensive. Our family saves a lot of money by avoiding prepackaged snacks such as juices, chips, cookies and fruit snacks. You can literally cut your snack/lunch bill in half by training your children to take snacks and lunches from home. We buy bulk snacks for our children to take to school and repackage them in Ziploc bags or containers. We have one "treat day" a week (usually Fridays) that the children can buy their snacks and lunches at school so they don't feel deprived.

  -- Vanessa Tucker, Children's Boutique Owner

Little Angels Boutique

King's Point, NL Canada

Our two biggest expenses were mortgage/household and food.

We made the difficult decision to sell our very nice, large turn-of-the-century charming house in a trendy part of town and buy a 1940’s fixer war box in a quiet, off-the-beaten-path neighborhood. We went from 3 bathrooms to 1 with a growing family! The house lacked charm and storage but we put all the cash from the first house into the new one and swore to only make updates as we could afford to pay cash. By doing this we not only reduced our environmental footprint but we have less decorative and other household items to buy, a small utility bill to heat in the winter and the mortgage is next to nothing. And by making an extra mortgage payment or two each year we keep our interest payments over the lifetime of the mortgage very low.

We have managed to reduce our grocery bill substantially by making some changes that require discipline. Rather than buy very expensive organic vegetables at the grocers we joined a CSA (community supported agriculture) program. We receive a weekly box of organic, local, and seasonal fruits and vegetables for next to nothing. When we get surplus crops like zucchini or cucumbers we make pickles so we don’t have to buy them at the grocers. We pick wild berries to make jam. These items double as Christmas and hostess gifts that we no longer buy.

We try to eat minimal processed food like breakfast cereal and crackers, opting instead to cook oatmeal or other grains or eat home-made granola for breakfast. We don’t drink soda or eat candy or smoke. We buy a case or two of young red wine from a local but excellent winery and let half of the bottles age so we aren’t tempted to buy more expensive older wines throughout the year.

We plan our menu around several seasonal ingredients to reduce waste. This means one week is Mexican week and I buy chiles and fresh cilantro, black beans, that 50 pack of corn tortillas that you wouldn’t otherwise finish, etc. The next week might be Italian week and I buy fresh olives and basil, mozzarella balls, etc. I found that if I was cooking Indian and Mexican in the same week I ended up throwing out extra fresh herbs or other random ingredients. We buy large cuts of meat and re-use them in many dishes. A large beef pot roast might become tomorrow night’s shephard’s pie or burritos or Philly cheese steak sandwiches. We also plan our weekly menu and make a list before heading to the store. We all vote to add one thing to the list which we decide on ahead of time. That way we feel like we get a treat without buying impulse items. That also ends any debate about candy at the checkout line.

We have formed several types of exchanges with neighbors and friends. We have a monthly “month of meals” club where we all bring a semi-prepared meal to a gathering once a month in enough freezable containers for everyone. When you leave you take home a shopping bag of meals to fill your freezer. These would be mostly prepared and ready to freeze. Later you simply take them out of the freezer the night before and bake or grill them, adding last minute touches to them to make them taste fresh. It is much less expensive to buy enough food to make 20 – 30 servings of the same item than it is to buy 7 meals for one family, each meal containing different items. We also have a sitter exchange in our neighborhood. One night the neighbors go out and my husband or I sit for them. Another night it is our turn.

We have cancelled all subscriptions, cable TV and long distance phone service using a calling card instead, use my son’s paintings as wrapping paper and cards, and only shop for new personal items every other month which cuts down on impulse personal shopping.

Before I buy large items, I look on free websites and check www.craigslist.com . We cloth diaper and breastfeed.

These things require a lot of discipline but offer an amazing amount savings.

  --  Annette Cottrell, Owner

Pollywog Baby

Seattle, WA

My best Money Saving Tip is to “Cut up Your Credit Card”. That way you are not tempted to buy things that you “want”, but are “not necessary”- things that take you a long time to pay off and cost you a lot of extra money in interest. I have found that saving up for items makes you appreciate them more, and makes you think more carefully about your purchases. There’s nothing like the feeling of freedom from debt!
 

  --  Margaret E. Dunbar, Artist, Photographer.

Croydon U3A

Victoria, Australia

Find creative ways to advertise your business at little or no cost. I have approached non-competing small businesses that I have used (i.e., the florist who supplied my wedding flowers, the convenience store just down the road where I sometimes shop, etc.) and asked if they would let me display one of my products along with a supply of my business cards.

I found that this generated more new customers for me during the holiday season than the $400.00 to $600.00 I customarily spent on advertising in the local newspaper.

  --  Elaine McCool, Proprietor

Hobbytime

Auburn, MA

I have several ways to save money.

1. I am married to a computer guru, he takes total care of my computer. Well that is my biggest savings, as I crash my computer at least once a week.
    
2. I save all those little film canisters, I use them for any manner of things in the computer room such as saving paper clips, keeping lead for lead pencils and so forth.
    
3. I also use the canisters when I do my watercolor painting to keep a little sudsy water in to wash out my brushes. These little canisters are virtually leak proof.
    
4. I save on gasoline for my car by having my Husband stop and pick up things on his way home from work, (he drives right past the various stores) so I don't have to make an extra trip. This alone has saved us several hundred dollars.

  --  Sandy Woods, Owner/CEO

ARTGALLY.COM

Brookfield, Ohio

It sounds counter-intuitive, but sometimes the best way to save money is to spend it. Weigh carefully the pros and cons of hiring someone to do something you need done before tackling it yourself "to save money."

For instance, I have a relative who works on cars for a living. He has offered to fix the brakes on my car for me, for "free:" all I need do is supply the money for the parts. However, he lives in another town, so in order to do this "simple job," he'll come visit for the day, bringing his wife, their kids, and maybe their dog.

• Cost of brake job at the auto shop: $200
• Cost of relatives visiting for the entire day: $550

That's two meals for four extra people, the extra bowl of dog food, the cost of the brake parts, the extra beer we'll need to buy and the extra cost for electricity and water during the time they're here. It does *not* take into account my time lost from my business, or extra expenses if he breaks something while working on the car.

My tip: Carefully check all hidden costs for any outside services jobs, especially the "free" ones.

  --  Michelle Hakala, Professional Writer

The Desk Drawer

California, USA

My household money saving tip involves those dreaded trips to the grocery store. I recently had the pleasure of grocery shopping without the company of my nine year old daughter. Not only did I make it through the store in record time, I also spent a lot less money than I would have if she had been with me. I had a grocery list, and stuck to it. Extra items didn't mysteriously appear in the shopping cart at checkout. While it won't always be possible to shop by myself, I vow to always have a grocery list to at least limit that mindless wandering throughout to store.

Next week, I bringing coupons!
 

  --  Teresa Lamb, Owner

Fly By Nite Creations

Seminole, Florida, USA

There are many ways to save money if you're willing to put in time and effort. One way that I have saved money is by learning HTML. To get started I borrowed "The Everything" Build Your Own Home Page Book", and "HTML 4.0 fopr Dummies" from the library. I also searched for HTML tutorial sites online and went through several of those. Learning HTML hasn't been easy, but at the same time it hasn't been as difficult as I thought it would be. Actually, I'm enjoying the challenge of trying to code correctly - in some ways it's like a puzzle. Best of all, I have control over my site and save money!

Another way I have saved money is by bartering my products for goods and services from others. In the past few months I've traded products for 50% of this year's hosting fees, in exchange for a banner design, and in trade for some cute pants for my son. Bartering is an especially effective way for both parties to save money because the items offered in trade usually have a lower wholesale value than their retail/trade value, so both parties save.

You can save money on advertising by donating items to charity auctions and by being active on relevant discussion boards. Most charities will list your business name as a donor, and some will ask for advertising materials to distribute. One charity I recently donated to asked for 200 business cards or brochures to place in "goody bags" for all attendees. That's cheap advertising!

Some discussion boards will let you put a link to your site in your signature for free, others charge a small fee for such advertising. In order to be successful advertising through a discussion board, you need to take the time to get to know the forum, the people there, and to be an active member of the community. Most people will be able to tell if you're just there to sell your site.

Saving money in your business isn't difficult if you open your mind to new ways of doing things, and are willing to put in time and effort.

  --  Amy S. Nogar, Business Owner

Zany Zebra Designs

Appleton, Wisconsin

In our disposable world, I've found that recycling can save a lot of money. I print out a lot of information, emails etc from the internet that are of short-term use. I've created a stack of these so that I can reuse the paper the next time I need to print something for short-term use. I recycle my printer cartridges by returning them to Office Max. They give a free ream of paper in exchange for each cartridge. I haven't bought paper in a long time. Since I'm in the gifting business, I use lots of pull bows. The strings, that you pull to make the bow, are put into a box to be used to tie off the cello on gift baskets -- saves buying curling ribbon for that purpose.

I stick a new label on office folders that are no longer needed as originally intended. Leftover pieces of cello or wrapping paper go into a drawer to be used to wrap smaller gifts. Funky furniture is recycled as display pieces in my shop.

In our household, leftovers go into a plastic container in the refrigerator and are made into a wonderful soup once a week. If I know I'm not going to make soup that week, they go into the freezer for use later.

With the high price of natural gas, we have installed a timed thermostat and set it to come on a half hour before we get up and go off a half hour after we're up. We use a wood stove for the rest of the day and a down comforter at night. The wood stove is fueled with wood that we cut and collected during the summer as well as scrap wood collected, with permission, from the discard bin where custom homes are being built.

These things don't take a lot of time and only save a few pennies each. But pennies add up to dollars.

  --  Joyce Reid, Gift Shop Owner

Creative Gifts To Go

Flagstaff, Arizona

Having a home-based business in itself has helped us to save money in many ways. There is no need to get dressed in corporate attire every morning (easily a savings of $500 per year minimum!); There is no rush to get out the door therefore eliminating the need to ever run into a coffee shop for that coffee and muffin breakfast; We spend less on transportation costs (bus fare, gas) as we remain in our home for the day.

Our childcare expenses are virtually non-existent, as we have our children under foot and close supervision as we go about our daily tasks (a challenge in itself, but that’s another article!).

A few other ways we’ve manage to save money with our home-based business are by using the business postal account to mail our personal parcels throughout the year for birthday and holiday gifts going out of town, and every time our computer needs something new (a new program, an upgrade) the expense can be written off as a business expense. In having only one phone line with call display and identity rings for both personal and business use, we’ve saved money. With only one phone bill, this is a big savings! If you are unsure as to whom the caller is, be sure to put on your professional hat and answer the phone in your business manner.

  --  Tamara Champion, Natural Family Boutique Owner

Parenting By Nature

Toronto, Ontario, Canada

There are several ways that I have found to get the most from the money I spend and to not spend more than I need to for that which I need in my life. Because I am a single person, buying groceries in bulk makes absolutely no sense. If it's fresh fruit or vegetables, it's going to go bad before I can finish it.

On the other hand, certain supplies that I use a lot of I do buy in bulk - and that nets me a wholesale price instead of retail. One needs to know when buying in large quantities makes sense and when it does not.

I gravitate to open software generally under Gnu public license (or copyleft as they like to say). As two examples, I use free versions of TreePad (a sort of electronic notebook or organizer of notes and thoughts) and I use the freeware version of AVG and stinger for virus control. Of course it helps that I am very careful about what I download.

For clothing, except my saris and antiques, I hit a particular Good Will Store on Reisterstown Rd. Not only do they have great prices, but I've found terrific shoes and clothing there!
 

  --  Patricia C Vener, Artist and Entrepreneur

Silver Dragon Creations

Randallstown, MD

My husband and I always shop for groceries on Sunday morning at our local super Wal-Mart. This has been a tradition for all the years we have been married. One of the best money saving tips we can offer, is to keep a shopping list on the refrigerator.

Every time we find that something is almost gone, whether it's paper products, frozen vegetables, or cleaning supplies, it gets listed immediately. Then, of course, the list comes with us, and we purchase everything on the list. This method has saved us a lot of money over the years, as we don't have to make quick trips to the grocery store for those items we forgot to buy - saving us gas, and keeping us from buying all of those extras that always seem to find their way into your shopping cart!

  --  Sandi Myers, Business Owner

Sandi's T's

Suffolk, Virginia

For us packing peanuts are a huge issue. We use a lot of them. Many of our items are fragile and need to be carefully packed. It is good business to use new packing supplies, but they were killing us.

We then found a few different candles stores in the different malls around that were throwing away their packing peanuts every week. So we asked them if they would be willing to let us pick up their peanuts after they receive a shipment. The deal we have with them requires that we pick up the peanuts the day of the shipment. We found that they get their candles in boxes that are then packed into larger boxes surrounded by packing peanuts. We get large amounts of peanuts that are clean and do not look used at all. This saves us money in packing supplies and saves them the chore of having to find a place to get rid of them.

  --  Cherish Dudley, Co-Business Owner
 

Cherish's Country Store

Thompson Falls, Montana, USA

Being a stay-at-home mom I have learned that there are many little ways to save money that will really add up by the end of the month.

• Make a list throughout the week of any groceries, household items and office items needed. Then take one trip out and buy everything. This saves money for gas since you will not always be rushing out to buy small purchases.
   
• On the first of the month I take out a set amount of cash from the ATM and that cash lasts for the next 30 days - no more multiple ATM fees!
   
• Buy meats in bulk at you local wholesale store. Bulk meat is sold at huge discounts plus no more running out for small purchases! Just separate and package in your freezer when you get home.

  --  Andrea Brogle, Business Owner

Artistic Gestures

Bloomingdale, IL, USA

Something I've recently discovered that is sure to save me money, as well as time and space, is a flash drive. Flash drives are the tiny (smaller than your index finger) computer storage devices that plug directly into a computer's USB port. All you do it plug in a flash drive and move files to it, and then you can take those files with you anywhere - and access them simply by plugging the flash drive into any computer's USB port. For around $50-$75, you can purchase a flash drive with 1GB (gigabyte) of memory. My flash drive takes the place of several other storage solutions: memory cards for my digital camera, CDs, extra memory that has to be installed into a computer, etc. It could even take the place of a laptop for people who need to be able to bring work home with them - just save the files, put it in your pocket, then plug it in to the USB port on your home computer.

I like to save a recent website backup on mine, so that if anything were to happen to my site, I could easily reload it from any computer with a USB port and Internet access.

  --  Leah Hitchcock Ybarra, Designer and Jewelry Maker

Michon

Berkeley, CA

When we send materials to the printers (brochures, postcards, etc) we put a lot of work into thinking ahead so that we only need to use the printers once or twice a year. This means that for example even our Christmas cards may be printed early in the year for the following Christmas.

Also we may create 4 different postcards suited for 4 different occasions even though we may only need one of the types of cards at the time of printing.

  --  Rikke V. Landi, Business Owner

Ugly Duckli LLC

New York, NY

It all starts at home. We use a lot of organic, all natural, etc. We always shop the outskirts of the stores first, getting the fresh food, produce, etc. For fun and easy food items, I’m a member of a natural food co-op, so I buy in bulk…20lbs of pasta, cases of mac and cheese, etc. I get all my milk fresh from a local farmer through a co-op so it ends up being less expensive than the store. I then make my own yogurt, ice cream and cheese with the milk, which saves tons of money. I buy all my beef by “splitting” a cow with several families every few months. If I need something and I know someone who sells or makes it, I’ll offer to trade them my goods for theirs. It’s a very common practice in the diaper making world, but it extends beyond that. I’ve gotten soaps, candies, clothing, website graphics, etc. More often than not I actually MAKE money doing this because I get a repeat customer.

Another way to save money is memberships. I’m not talking about Sam’s Club and Costco (although sometimes those can be great money savers), I’m thinking about other things where either paying, having a free membership, or subscribing to a newsletter saves you money. For instance, there is a local oil change place where you pay $5 for a coupon book and each time you take your car in for an oil change you save $2 off the change and can get up to two free services as well. Alternatively I will only buy fabric from stores that have sent me a discount code and/or are having a sale. I buy direct when I can and when I cannot, I buy from co-ops. Some memberships are free trials…so I use them until they expire. One example is auction stealing websites. If I see a good deal on an item on EBay that I need, I’ll use a free auction sniper tool to bid for me at the last minute. It means I sometimes don’t get it, but only because someone else wanted to pay more for it. In fact, I always check eBay first for anything I have to buy.

  --  Reb Abraham, Business Owner

Reb's Tie Dye

San Antonio, TX

Fire your customers! Wait a minute...what did you say? I said to FIRE your customers, the non-profitable ones that take up too much of your time and time is money. I just fired 2/3 of my customers. Yes it was scary, but after studying how profitable or I should say non-profitable they were, it was easy.

I'm amazed after only 2 1/2 months how much money and time I have saved. The obvious, no more rent and extra utilities as I closed the brick-and-mortar store and moved my business home, to the not so obvious tons of paper and ink!

The much needed extra time has been focused on attracting profitable customers who take up little time which in turn bring in more money. So how am I attracting more profitable customers? Focusing on my website and SEO techniques! It works!

Janice Dortch, Business Owner

Hickory Ridge Designs

Martinsville, Virginia

Watching our electric usage is one easy way we can save money. Switch from standard 60watt electric light bulbs to 14watt compact fluorescent light bulbs. These light bulbs give out the same light as a 60watt bulb but only use 14watts of electricity compared to 60watts. The ones I use, are guaranteed to last 9 years so you save money on electricity and on replacement bulb costs. I recently purchased twelve 14watt compact fluorescent light bulbs for less than $5.00 so they are very affordable.

You also need to be aware of phantom loads. Phantom load means that some appliances actually use electricity when they are not in use! You know that fancy digital clock your microwave has on it? That means it uses power even when you don't have the microwave on. The same will hold true for your VCR / DVD, your stove, etc. To save money, connect these appliances to a surge protector with a switch on it & turn them off at the switch when they are not in use.

  --  Ellen LaFleche-Christian, Business Owner

Moonlight Creations Jewelry & Gifts

Castleton, Vermont

1.  Save money on groceries, eye glasses, multi-function printer/copier/fax and other computers/electronics through specials and weekly coupons at Costco warehouses. Meats (including choice grade), fresh fruits (pineapples) and vegetables (asparagus) and baked goods are above average in quality and lower in price than regular stores. Examples: in-store-baked chicken pot pies have very large chicken chunks; muffins are huge. I've spoken to restaurant people who buy items and ingredients here to resell.

A licensed optometrist and staff dispense prescription glasses at less than 50% of my regular optometrist's and are made of equal-quality materials with all the coatings. Employees are especially friendly and helpful, and are well paid by their employer. Different membership levels (at a cost) provide rebate checks annually.

2. Save 10% on office supplies using an Office Depot Advantage card obtained at no cost (not a credit card). Teachers can qualify (at no charge) for 5% rebates on all purchases at Staples.

3. Some of the lowest prices regularly in computers and electronics are available at NewEgg.com. Shipping is fast and customer satisfaction ratings are higher than many other online sellers.

4. Inexpensive identity-theft insurance that includes administration of "solving the problem" if it happens, can be purchased from Pre-Paid Legal Services, Inc. Services are provided by well-established law firms throughout the country. Covered services include a number of free document reviews. Identity-theft can be a huge drain on financial and time resources when it occurs.

5. Savings of 50% and more on quality men's clothing can be obtained regularly during frequent sales at Joseph A. Bank, a nationwide men's clothier. A no-cost corporate membership insures email notification of sales and printable coupons.

6. Huge savings on men's and women's designer and quality clothing can be obtained at many resale shops near affluent neighborhoods.

A fine wool-lined and collared men's trench coat purchased for $12.00 about 12 years ago still looks good. Cuffs, pockets and the remaining fabric still appear unworn and fresh after annual cleanings. The button-hole thread became warn last year. A tailor shop charged $35.00 for a professional redo. The coat still appears as fine as a $200.00 new one. My spouse frequently finds beautiful name-brand and designer-label clothing in like-new condition at the same shops.
 

  --  Spencer Darling

Internet & POS Service Company President

E-BZZZ, Inc.

Batavia, Illinois

One of my favorite ways to save money is by bartering. When most people think of bartering they tend to think of one end of the spectrum or the other: as simple as neighborly farm folk trading a dozen extra eggs for a sack of corn; or as a complex as some of the commercial "bartering services" that have sprung up, requiring "memberships," extensive "point calculations," etc.

For most of us, something in between is easy, effective, and can save a LOT of money. For example, my web designer has been paid entirely in soap and other body products I make. My entire cash outlay, not counting raw materials, for a multi-page site has been $36.95 (for name registration and web hosting). There is still much work to be done on the site but it's up and running, has made me a considerable amount of money already, and the designer is willing to continue to work on it to my specifications in exchange for additional product.

The two things that need to be kept in mind are (1) virtually any product or service you offer is suitable for bartering; (2) it never hurts to ask if someone is interested (after all, the worst that can happen is that they say no!). When I first became a professional soap and body products maker I was hesitant to approach people to barter (fear of rejection, I suppose). Luckily, lots of people approached me, and I now feel perfectly comfortable inquiring if nearly anyone who has a product or service I need is amenable to a bit of trade. Virtually everyone I've approached has been thrilled with the idea.

In addition to my website, other recent barters have been for my daughter's wedding photography, and custom made hiking clothes for my son. Barters can also be small (I've traded a single bottle of lotion for a lovely pair of earrings). It all saves money, and frees up your cash for non- barterables such as the electric bill. Hmmm... I wonder if someone at the power company might need some soap or lotion...

  --  Olga M. Jones, Business Owner

Garland Road Soap Company

Sherwood, Oregon

The following are ways I have learned to save money as a work at home mom of two:

Save ALL clothes and shoes from my oldest son, to pass down to my youngest (They were born in the same month 2 years apart so this works out PERFECTLY for us! When one outgrows something, the next is almost ready to wear it, and the clothes are always in the right season)

We buy almost ALL store brand foods (we shop at the Super Wal-Mart), and have found that some of it is even better than the name brand so that you are only paying for quality not a name!

We grow our own vegetables and hunt for certain types of meat.

We also make our own Alcohol and Soda from scratch

I taught myself how to create my own website and do all of my own Advertising, Marketing, Search Engine Optimization, ETC through free online courses and networking with people who were more knowledgeable in each subject.

  --  Jessica Tracy, Business Owner

Hummingbird Gifts & Goodies

Mercer, Maine, USA

We all know that we are supposed to drink a lot of water if we want to be healthy. We also realize that our tap water is not sufficient for drinking. Since the most pure form of water is distilled water, and lugging gallons of water from the store is not only a pain but also expensive, we purchased a home water distiller.

After hearing stories of some water bottling companies bottling tap water, we felt relieved to know for sure that we drink water that is pure because we distill it ourselves. We save 70% over bottled water costs.

  --  Evie Maddox, Business Owner

Eve’s Best

Anthony, KS

For a professional look and to save money on packaging, I use Priority Mail because they supply various shapes of boxes for no cost. I also save the packing peanuts from shipments I receive and recycle them in the packages I ship out.

For postage, I also use the US Postal Service website to pay for and print postage labels and then request package pickup from my carrier, saving myself the time and expense of driving to the post office.

Regarding business mileage, I plan my trips carefully so that I may combine personal errands with business ones. Perhaps I personally need something at the store that I'm driving to for business. Maybe I need to stop somewhere right on the way to a business destination. Not only is it an efficient use of time, it also save me money because I don't have to make a separate trip.

  --  Angie Cavaiuolo, Bath & Body Company Owner

Handmade Natural Beauty

La Crosse, Wisconsin

I own ONE credit card and it saves me money on travel each year. My husband and I have been able to fly to Barbados twice ($850 per person), plus some other small flights within the past 5 years by earning airline miles with American Airlines. We have a Citibank MasterCard that we earn points each time we purchase with the card. I charge everything to the card such as groceries, gas, supplies, household items, etc. On average I earn about 35,000 points per year which equals one domestic flight free.

The KEY is to PAY OFF the card balance EVERY MONTH. I do NOT pay finance charges. That is a waste of money. When I make a purchase with my card, I simply log that purchase in my checkbook and us CC as my check number. This way, I do not spend money I don't have and I am able to pay the entire balance in full when the statement comes. This tip will help you save money on your travel expenses when vacationing or visiting loved ones.

  --  Kim Bagley, Business Owner

Mom's World Online

Longview, Texas

We try to find ways to save money that can also save time. My biggest money/time saver is making sure to save up errands for one day based on location. I go to the pet supply place, craft store and clothing store all on the same day because they are all within spitting distance of each other. The next day I head to the supermarket, shoe store and hair salon because THEY are close together. The bank, wine shop and bakery are close, so I save those for Friday! This plan saves time because I know where everything is and how long it takes to get there and don't have to shoot back and forth to different areas and I save money, both on gasoline and because time IS money!

I also will occasionally clip coupons and I wait to purchase certain items until they go on sale. I research like crazy online for big-ticket items (TVs, appliances), find the retail price, the best price and finally the sale price. When buying supplies for my business, I always buy in bulk, much cheaper, and if I don't use it now, I know I will find a use for it eventually and will be happy that I don't have to go out and hunt for the particular item again, only to find that it's either no longer available or that the price has increased.

Finally, in the summer we grow our own vegetables, which saves us quite a bit of cash. They also taste better and are more satisfying because we grow them ourselves. Digging in the dirt also saves our sanity by getting us away from business for a few hours each week!

  --  Carolyn Shea, Designer

SheaShells® SeaShells & Silks

New York, New Jersey

In my country, where small businesses are greatly affected by inflation and devaluation, we really need to save a lot on our money. These are the means we employ in order to save on money. One way is to reduce all our fixed costs. Of the fixed costs we have and maintain, when we discover a service that has lower maintenance costs, we change to that service.

Second, we avoid capital expenditures when our working fund is low. We stick for the meantime to present computer systems, telephone services, mobile phones, or faxes and make new acquisitions when our working fund is high again.

Third, as regards our variable costs, we reduce these expenses as much as we can, so as to prevent the financial erosion of our working fund. Fourth, and this is what makes the difference, we seek assistance from our mutually supportive business network, which need not be financial, and they help us a great deal in things that often help us save much time and money.

  --  Dennis-Emmanuel Cabrera, Website Owner

Catholic Internet Mission

MetroManila, Philippines

When I got married, my husband and I really struggled with the concept of finances. He was a saver and I was a spender. Mind you, I didn't want to generate debt, I just wanted to spend what we had. My philosophy was, "why save for a rainy day when you don't know that the rainy day will ever come?" I have come a long way in the last 5 years. Now that I am at home managing the day-to-day finances of our household and running a small business, I have changed my position.

I am always looking for ways to save money because if the car doesn't break down this month, the heat pump will need service. I have found that the easiest way to save money in my household finances is to keep track of what I spend. Whenever I come home with a receipt whether I bought gas, groceries, ate out, went to the MAC machine or took the dog to the vet, I enter it in a spreadsheet I have created for that purpose. We have a budgeted amount for every possible type of expense and this allows me to keep track of what is going out. When I wasn't doing this, I would sit down at the end of the month and say, "where did all the money go?!" Now I know!

  --  Alicia Staz, Owner/Designer

Beaded Royalty

Dillsburg, PA, USA

I realized fairly quickly that being able to accept credit card payments was crucial to the success of my online business. I researched several options. At the time, you were required to have a PayPal account to make a payment and many people were not interested in opening a PayPal account. My website is built on the Yahoo shopping platform and I felt I really needed a way to accept credit cards that work well on this platform. All of the options I researched seemed so expensive for the amount of income I currently had. I finally found Propay. There is a yearly fee but there are no monthly fees other than small transaction charges similar to PayPal. I chose this option to help save money while still allowing me to accept customer orders charged to credit cards. It has been a great option for me and I was even able to upgrade to a package with a larger charging limit.

  --  Debra Killen, Business Owner
 

Personalized Gifts and Custom Embroidery

Madison, Alabama

Like many entrepreneurs, I started my online business with a wealth of enthusiasm, creativity and determination *and* a slim budget.

The best tip I can share is -- Don't pay others for products or services needed to run a small business. Learn to do things yourself.

1. Clueless about business start up, taxes & accounting?

Check out your local college. Most have a small business development center that offers seminars on all aspects of running a small business. In my area, many of the workshops are free. Recent topics include: The First Step Pre-Business Workshop, Basic Financial Statement Analysis for Small Retail and Service Businesses, and Basic Recordkeeping for Small Retail and Service Businesses. And as you become acquainted with instructors and attendees, these workshops offer a gold mine for networking opportunities.

2. Need professional product pictures?

My business is strictly online, so having quality pictures of my products is key. Unfortunately, I had no camera skills and my start-up budget wouldn't stretch to include the fees of a professional photographer. But technology is our friend here. I taught myself to use a digital camera and a photo editor. I found a table top photo studio for sale on eBay, which allowed me to produce photos that sell my work.

3. Have items or products you use all the time in your business?

Comparison shop and buy in bulk!

Use the internet to find the products you need and compare prices with local providers. I live in a rural area and do most of my shopping for components online. eBay is also a source; many of their product categories have a wholesale section.

Most companies offer a bonuses for buying in bulk, usually with a sliding scale that saves you more money when you buy over a certain amount. I had to get over a reluctance to do this. Ordering by the case, rather than by the each, was a struggle at first. Must be from a life time of retail shopping!

4. Have no HTML skills, but you need a website?

Find a website provider that offers store templates. With these, all you need to do is plug in product information and upload pictures. A user interface that makes it simple to change information, yet still allows you to maintain control over your website. And if you have any HTML knowledge, you can go customize the look of your site and produce a very attractive online store. A Google search of "website providers" will yield a host of alternatives.

5. Need a business brochure, booklets or business cards?

Take advantage of all the features of Microsoft Word. You can buy blank business cards and glossy paper and make them yourself. Companies like Paper Direct offer a range of colorful theme papers and cards that give your publications a custom, polished look.

6. Groaning and saying you have no time for any of this?

The time investment is worth the savings. And if you budget 30 minutes out of your day to research or learn new skills, you'll be surprised how quickly that skill is learn

Ruth Ellen Kostic, Owner & Artisan

The Crystal Cloister

Riverside, USA

For me and my family of seven, the biggest monthly money saver is planning a weekly menu and creating a shopping list from this. Because the grocery bill is one of our biggest variable expenses, I know that it is one that can be managed and controlled.

I have found that by creating a shopping list from my menu I can really reduce my grocery bill. I try to create my menus with my grocery bill in mind. For breakfast, it's a lot cheaper to feed my family pancakes and eggs than it is cold cereal. My husband makes a big bowl of pancake batter that will last two or three days. The total cost for that is probably around $2.00. I can get an 18 count carton of eggs for $1.49 and this will last us one week. Of course, milk is the most expensive item, but because we're aren't using it in seven bowls of cereal, it lasts much longer.

For dinner I try to use chicken twice per week, beef twice per week and a meatless meal one or two times per week. Every other weekend we order pizza or eat out, and weekends are also good for leftovers. I've been doing this for the past couple of years so now I know what my family likes and can pretty much predict what our grocery bill is going to be every month. I do try to keep a little extra money budgeted in our grocery bill for when meat or other items go on sale. Then I can go and stock up.

  --  Shannon Jarvies, Broker

Consolidation Debt Free

Manassa, Colorado

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