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Saving money in business can help run a cheaper household – here’s how!

savingEvery day is a school day. We pick up new tips, tricks and skills throughout the whole of our lives, and never truly stop learning. When it comes to saving money, and running a more efficient household, this is particularly important – you never know where that next piece of important advice will come from.

In fact, it can come from yourself! By using the skills you’ve learnt to run a business like a well-oiled machine, you can ensure your house is exactly the same. If you’re wondering what I mean, here are just a few ways that your business can teach you how to save money each and every day…

1. Think eco

How ecological you are as a business can rub off on your home environment. Think about all the time you spend drafting efficiency reports, dreaming up new ways to cut costs by stripping out wasted, unnecessary energy, costly printing and so on. Apply the same principles to your home by swapping to energy-saving appliances, from light-bulbs to boilers, and consider installing solar panels for a lasting impact on your bills.

2. Transportation made easier

Are you a product business with hired pallet courier services, so that you save on truck and van maintenance? Or are you a digital-only business that still needs to send confidential paperwork by a professional courier? Either way, you’ll be aware of the low-cost alternatives to using Royal Mail that are out there. Put your good relationship with these companies to use when it’s time to move home, send the kids food parcels at University, or send items abroad to relatives.

3. Buying in bulk

When it comes to items you use a lot at the office, such as stationary, paper and printer ink, you would normally use a trade account to buy these in large, bulk orders. These will be much cheaper and of course last far longer. So, why can’t you do the same thing in your home? Think about all those items you use the most, such as toilet roll, shampoo or washing detergent, and look for wholesalers who sell these closer to cost price. There are even shops you can go to similar to a normal supermarket, like Costco. Long-term, they’re worth the joining fee.

4. Switching providers

As your business grows, your needs change, and the bills you pay should always reflect that. For example, if you’re now running an office with 10 people rather than three, you’ll need to switch over to your own private network and phone system, so that it can cope with the demand on processes that you’re putting through it, minute by minute. Your home is no different – don’t be afraid to switch providers if your needs change, don’t be afraid to haggle with them over prices, and always shop around for quotes before committing.

I hope you found this post useful – what other money-saving skills have you picked up from running a business?

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