15+ Tips for Reducing Expenses When You Work at Home

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If you work from home, you have a unique ability to take control of your business finances and reduce spending across the board. If your business spending has been a bit higher than what you’d like, make 2010 the year you finally get control of your budget. 

The Power of a Monthly Budget

It’s possible to cut expenses simply by being aware of where your money is being spent. This is where a monthly budget comes in. If you’re not keeping track of what’s being spent, it will be impossible to cut back. Make sure your budget:

• Includes expenses and earnings
• Has columns for anticipated and actual numbers
• Is in an easy-to-understand and easy-to-update format

Once you create your budget, update it monthly and it will become a valuable financial planning tool for your business.

And Now to Reduce Your Expenses…

Here are 15 more tips for getting on the right track:

1. Print less, print on the back, and buy less expensive paper.
2. Change your print settings to use less ink.
3. Consider open source software.
4. Buy office supplies in August to take advantage of back-to-school sales.
5. Purchase refurbished equipment instead of new.
6. Replace your office phone line with your existing cell phone (and use a virtual phone number/forwarding service to maintain professionalism).
7. Skip live events in favor of online training and conferences.
8. Look into discount bundle options for your phone, Internet and cable service.
9. Shut down all equipment overnight and when it’s not being used.
10. Replace direct mail with email marketing.
11. Keep records of expenses so you can take advantage of home office deductions at tax time.
12. Pay bills online.
13. Opt for prepaid annual plans when available for online services.
14. Conduct meetings via phone and webinar services to avoid travel expenses.
15. Enlist the help of family members for basic business administration tasks.

What tips can you share for saving expenses when you work from home?

Image credit: rigor789

Alyssa is the owner of avertua, LLC, author of VA Secrets Revealed, founder of the Virtual Assistant Hub, blogger at the Small Business Idea Generator, mom of three, and a whole bunch of other stuff!

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