5 Ways I Save Money While Running My Businesses
Updated: Jul 12, 2021
Every dollar counts.
In this post I want to share how I took a page out of the "millionaire's handbook", and learned how to save money while trying to grow my businesses. Let's face it, the pennies can add up. But as you've probably heard before, many of the famous millionaires and billionaires that we know and strive to learn from have created a lifestyle living below their means.
Learning to live below your means is when you on average spend less than what you make. The millionaires and billionaires of the world not only make this a habit but get creative in finding different ways to do so (tax write-offs, etc). While I'm no millionaire (yet), I've found a few different ways to save money. Check them out below!
1. Cash Back Services
There's a long list of current companies that offer cash back as a reward for shopping through their website or app. Some of the more popular ones I'm sure you've heard of are Rakuten and Ibotta. Most of these companies make it simple to earn rewards by providing a Chrome extension. Anytime I reach the checkout point while shopping online I simply click the extensions, and if the vendor offers cash back I can activate with one press of a button.
I find myself using Rakuten the most. It's great for making purchases for gifts, Groupons, food delivery services, etc. I also frequently use it for office supplies, shipping supplies, product supplies, and more! It feels good earning cash on purchases that are necessary to grow my businesses.
Youtube has helped me tremendously. Google, too. There are plenty of mentors, programs, courses, and webinars out there charging people an arm and a leg to learn a certain craft while promising you success. Are they helpful? I'm sure some of them are. Some are also a total scam. Nowadays, we're so blessed to have a huge resource that is the internet, as well as, people who just want to help others. Whatever question you have type it into Youtube and Google, and I'm sure you'll find the help you need.
3. Shipping Software
If you're trying to build any type of business that involves shipping, I'm sure you know at this point that it is not cheap. Sometimes it's unavoidable. However, there is software out there such as Shippo that not only lists all the different carrier rates for your packages but offers them at discounted rates, too. I often chose to use Shippo, because they offer flexible plans with no monthly subscription fees.
4. Reward Programs
Much like cash back programs, there are a ton of reward programs that offer points and such for shopping. Some stores like Target, Rite Aid, and Whole Foods (just to name a few) offer their own reward programs. The best one in my opinion is called Fetch Rewards. All you have to do is scan the barcode on your receipts to earn points. These points add up over time and turn into cash.
You'll earn most of your points by scanning receipts from grocery and convenience stores, but I've earned at least 5 points for scanning Home Depot and H&M receipts. And it gets even better! You can sync your email address and easily earn points for all your online purchases, including Amazon!!!
5. Social Media
If you don't have thousands of dollars to spend on marketing, it's important that you build awareness by optimizing social media. Get yourself and/or your business on every platform there is. Not only that, but join as many support and engagement groups as you can, too. Nobody can buy from you if they don't know you exist. Always be promoting yourself!
These are only a few ways of many you can save money while building a business. If you have any creative ways, I'd love to hear them in the comment section below! Thanks for reading.