Whether you’ve had to adapt to working at home, or you’re building your empire from your living room sofa, there are some distinct differences between working at home and working in a traditional office setting:
- You’re your own boss
- Your time is your own
- You have a better life/work balance
However, now that you’re working from home, it’s also up to you to handle all the costs that come with running a business. And if you’re already struggling with debts then you may be wondering how you’re going to juggle more financial responsibility — click here for advice from Creditfix. You will, of course, have much lower overheads, but that doesn’t mean that there aren’t savings to be made. Read on to discover how you can save money on your home-based business.
Buy second-hand
Need a new desk? Office chair or file cabinet? It’s tempting to buy everything brand new and build your dream office from scratch. But — as you’ll soon find out — office equipment and furniture are incredibly expensive. Buying second-hand is a simple, yet effective way to save you money and still have all the furniture you need. Check out eBay or Facebook Marketplace to see what’s available, or head to a charity shop. If you used to work in an office, ask them if they have any old items they’d be looking to sell.
Don’t unnecessarily pay for services when you can do them yourself
If you’re having items shipped to you from your vendors and suppliers, see if you can cut back on the shipping costs and pick them up in person instead. If you’re in the area of your vendor, consider popping in to collect your order. But only do this if you’re certain it will save you money; if you’re spending your money on fuel and wasting productivity then it’s not worth it.
Negotiate as much as possible
At the end of the day, your vendors will want to hold onto as many clients as possible, so try bartering a lower rate with them. Even if you don’t think there’s much wiggle room, see what they come back with!
Use energy-efficient products
From your kettle to your laptop, your lighting to your insulation. Make sure your property and the products in it are all energy-efficient. That way you won’t be paying extortionate utility bills.
Be straight with your customers
Make sure your customers are aware of the terms of your payment. If you’ve provided them with a service, make sure they know that they have a certain amount of time to pay what they owe.
