Remember, when making business transactions you should keep receipts or other proofs of purchase. Office supplies and equipment shouldn’t be coming out of your pocket, but out of your business’s.
It’s also worth
considering your phone and broadband service. For both, a proportion of the
cost can be claimed based on business use if you’re working from home.
Every device you own is at risk of
cyber-attack these days.
Therefore, good cyber-security habits can save you time, money, and lost data. You also eliminate the possibility of damaging customer relations by inadvertently passing along a virus to your customers.
Don’t Use Outdated Technology
For example, landlines are becoming obsolete with the proliferation of mobile phones and super-fast broadband. Also, a lot of businesses now use Skype. So try to do as much as you can over the Internet to save on mobile and house phone bills.
Be Sure to Leverage the Cloud in Your Home-Based Business
You don’t need to buy expensive office software and servers when you can switch to a cloud vendor at a fraction of the cost. Google’s G-Suite is a good example.
Money and the Environment
In the US, most energy companies offer free
home energy audits. With the amount of time you’re going to be spending in your
home, take advantage of this to conserve energy and save on your power bill.
If you’re feeling a little chilly at home, why not put on an extra layer or two of clothing instead of turning up the heating?
Electricity is expensive, so make sure
gadgets are not left on standby for long periods.
Can You Go Paper-Free?
Printers, ink, and paper costs can also become prohibitive if you’re printing regularly. So go paperless as much as possible, only printing when absolutely essential.
Likewise, if you’re using your car for business travel, combine trips to save money and the environment. Though it might feel like an insignificant saving, over time you’ll find you have more disposable income.
It might be tempting to spend money on your new office. But is it necessary?
Many home-based businesses don’t require you to arrange meetings, so why splash the cash? Instead, buy used office equipment and furniture wherever possible.
Gumtree, eBay, and others are your friends. They can help you to furnish your business on a budget.
When working from home you can also save a lot by being frugal around your day-to-day spending.
For example, coffee addicts can enjoy the benefit of brewing an entire pot while working from home. This allows for significant savings when compared to daily Starbucks runs.
Similarly, why not try saving money by cooking your lunches at home rather than going out?