Startup Woes? Micromanage And Save Some Money

By | September 1, 2009

Lots of small businesses and freelance startups, especially in todays economy, face the hardships of money management. Although it can be hard, here are a few tips I’ve learned in my life that can help you control and keep track of your money so it goes where it needs to.

Hide The Cards : Debit and credit cards are tempting to use, and even easier to abuse: leave them at home when you don’t need to overspend to resist impulse buys.

Set Limits : Carrying too much with you can sometimes let you get ahead of yourself. Set a daily, weekly or monthly cash flow limit for yourself so you don’t leave the house with lots and come back with none.

Skip or Improvise : Most of us business workers need that morning coffee or tea to get started, but that doesn’t mean you have to buy it. Make a cup at home and take it in to work in a mug and skip the trip to Starbucks in the morning, you might be surprised how much money you could save by avoiding one stop!

Needs Before Wants : Everyone wants those Dual Quad Core Mac Pros, but do you really need it? Let’s be honest, not many users need that kind of power. Only spend what you need to in order to get what you need; those unneccesary purchases add up and could result in extra dead weight for you and your business!

That’s all I’ve got for now, but hopefully you’ve seen something that’ll help you save some cash while starting your business!

2 thoughts on “Startup Woes? Micromanage And Save Some Money

  1. Andrew

    Great blog post as usual. 🙂

    Often in the past on daily commutes via train I’ve used a travel mug and taken a book. Saved a fortune in tea, coffee’s and newspapers at train stations. Equalling hundreds of pounds of savings per year.

    Plus taking a packed lunch, can be healthly and again a huge saving.

    Also spot on the mark for the needs before wants. Many people will want the flashy items. At one startup I brought four cheap computers and other equipment second hand. It wasn’t latest and greatest, but helped cut down costs. Avoiding impulse purchasing and researching deals with the help of online businesses can help also.

    Regards

  2. Dion Rodrigues Post author

    I agree Andrew! There are a lot of small startups that think buying the expensive hardware right away will help them in the long run, but in reality it could make or break the business depending on the financial situation!

    Start cheap and move up when funds are available!
    .-= Dion Rodrigues´s last blog ..Artwork Featured… Again 🙂 =-.

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