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Here’s a great way to make money: spend less. Let’s face it, not enough people think about their expenses because they just assume that there’s no way around it. Outsourcing your web design to someone for £500? Sounds expensive, but how much of that person’s time are you actually using and how much money are you saving by hiring them instead of taking 30 minutes to learn how to edit some templates by yourself? Sure you probably won’t be as proficient in web design as a professional in 30 minutes, but if you’re just getting started then saving £500 is a huge deal.
That’s just one example of an expense that you probably aren’t thinking about enough, but here are a couple of others.

 

“Necessary” Expenses

Running costs, credit card fees, utility bills and even your internet cost can be cut down if you know how. Let’s say you spend far too much on electricity bills and you want to cut down, but don’t see yourself switching off your computer because it’s where you work from. Then how about turning it off at night instead of leaving it on sleep mode? It’s not like you are using it anyway and just because the computer starts up faster from sleep mode, it doesn’t mean you can’t spend an extra minute or two waiting for it to boot up while you make yourself a coffee.

 

If you think you’re still spending a lot on utilities, then shop around for deals. Even if you’re currently stuck in a contract with an expensive provider, nothing prevents you from taking the initiative and finding a cheaper provider for internet, phone, utilities or even your web host. Remember to shop around for deals and stop thinking that necessary expenses are locked in and can’t be reduced.

 

 

Waste Not Want Not

Another big area you could cut costs in is wasteful spending. If you run a design studio, then are you actually making use of most of your space or could you cut down and rent a smaller office? If you’ve set up an office and you’ve bought loads of computers and hardware, then how much of that is going to be used if you’ve only got a handful of employees?

There’s no use preparing for the future if it’s uncertain. People don’t buy houses when they’re 18 because they want a family when they’re 30—that’s just silly. Buy only what you need for the immediate future and the present, but don’t buy something like an expensive microphone for your YouTube videos if you’ve only got 50 subscribers, and don’t invest in an expensive web designer for your blog if you’re maxing out at 20 viewers per day. What’s important is your content or product—you can dress it up in pretty clothes later.

 

 

Final Words

Let’s admit it, we’re all guilty of excess expenses here and there. Sadly, we only have ourselves to blame if it’s eating up our income and if you really want to make more money, then you need to know how to save money.

Chiino
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