Author: Brian Martin

5 Simple Tips to Save Money on Your Daily Business Expenses

To succeed in today’s marketplace, you have to make every dollar count. One of the best ways to do that is to look at your daily business expenses. Ask yourself if you?ve done everything possible to keep those expenses as low as possible, while not sacrificing quality, employee retention, and your sanity. Consider these five cost-saving tips when you evaluate how well you are spending your dollars.

Building and Maintenance

In most companies, the top operating expenses are payroll and facilities. How well are you using the space you have? Would it be more cost effective to move or is it cheaper to stay where you are? If you own the building and aren?t using or need all the space, you could rent out part of the space to offset the cost of the mortgage and utilities.

Take a look at how energy-efficient your building and space is and how much maintenance is necessary. You can reduce the cost of space by either finding a cheaper, more energy-efficient space, or spreading out the maintenance among some of your staffed employees who handle cleaning or maintenance.


Payroll is a tough expense to address. You want to keep your employees happy and pay them what they are worth, but high payroll costs can eat into the budget quickly and deeply. The first area to look at is overtime. If employees are consistently working overtime hours, it may be time to either add staff permanently or temporarily. Do the analysis to determine whether it is more efficient to add staff or pay the overtime.

As seasoned employees leave, try to replace them with less experienced but highly trainable replacements at a lower salary. You may be able to reduce salary increases in lieu of stock options, paid time off, or other benefits that may not affect the bottom line. For example, employees may be just as happy with less pay if they?re allowed to work from home two days a week or trade in their suits for t-shirts and jeans.


Gone are the days when everyone needed an onsite server and to pay for expensive software packages. Now, the cloud has proven more reliable and easier to manage, and cloud space is dirt cheap compared to maintaining and upgrading services. Many software companies have moved away from selling software packages that have to be manually upgraded periodically. A lot of software released now is cloud-based, so that the experts can assure their customers have the most current version.

Best of all, you may be able to use this software from anywhere, which means you can work as easily from home as at the office, or if something happens to your office building, your business isn?t compromised. You can just shift locations elsewhere.


Keep accounting costs at bay. This will ensure you meet deadlines and can avoid paying penalties and interest and take advantage of vendor discounts. Additionally, look at what it costs you to have an accountant do your bookkeeping. You may find it less costly to treat one of your reliable employees to an online accounting degree, and then move the accounting back in-house.

Price Shop

Never assume the rates you were quoted last year for things like cellphones, insurance, trash service, or landscaping are still the best rates today. Make it a practice to at least once a year shop around for a better price. Remember to compare similar services in your analysis or you may end up paying more.

Keeping your day-to-day operating costs low means analyzing each income statement line item and asking if that is the best you can do and still maintain a healthy work environment that promotes growth. Start with these five tips, but do not stop there. See what suggestions your employees have as well. They may surprise you.

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5 Tips to Avoid Financial Disaster in Wake of Another Recession

When it comes to recessions, it’s not a matter of if we will get another one. Instead, it’s a matter of when we will encounter the next one. Can you avoid financial disaster if another recession were to come down tomorrow? This article will give you a couple of tips to avoid the pitfalls of becoming unable to take care of yourself and your family.

Pump Up Your Bank Account

It’s when you have money that you should start putting away some cash in your bank account. If you can live off your savings for at least six months, then you can go on to the next step. If not, start by socking away at least 10 percent of each paycheck into an emergency fund. While you’re at it, make sure you’re banking with one of the good guys.?

Take Down Your Dependency Rate

The rate at which you depend on your work income is your dependency rate. So if you spend 90 percent of every paycheck on your expenses, then 90 percent is your dependency rate. You will want to work to take down the amount of money you spend from each paycheck, even if you get a raise. By spending less, you do the hard work that will not only make you recession proof but will make saving for retirement a lot easier.

Keep That Resume Updated

In this economy, a recession-proof job doesn’t exist. For this reason, you will need to keep your resume updated at all times. You never know when you are going to need to hunt for a new job. When you upgrade your resume when you don’t need to do so, you eliminate the worry and desperation that will come when you’re trying to get a job to avoid bankruptcy and other financial pitfalls.?According to Bankruptcy Law Office, be sure that you research all of your options before filing for bankruptcy, so that you fully understand how this choice will affect you.

Think About Getting a Side Job

These days, you can easily get a side gig and make more money to put towards your expenses, emergency fund, and retirement. You can do anything from driving people around town as an Uber driver, selling products on eBay, and designing websites for clients around the world. Almost any skill you have can get turned into a side gig, from a flair for writing well to a high amount of knowledge about social media.

Pay Down Your Debt

You want to work so that your debt amount is low and your credit score high.?Your debt to asset ratio is an important factor in determining your overall credit score. Got bad credit? Do something about it, but watch out for credit repair scams.? Do whatever you can to pay off any debt you have, whether that includes side gigs, selling possessions you no longer use in a garage sale or coming up with a stricter budget.


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