From Work to Home: Save Money
Saving money is a vital part of preparing to start your own business. You will need not only start-up money for the business, but money to live on should things slow down. There are several ways to start saving up money for making the big leap. In general, you want to have at least 3-6 months of living expenses set aside, to give you peace of mind.
How to Save Money
Set up a separate account. It can be pretty tempting to dip into your savings when things get rough, so having the money in another bank account specifically for the purpose can be a good way to go.
Deposit regularly. Decide how much money you can do without each week and set up automatic deposits each week. It doesn´t have to be a lot, but it should be regular, even $10-25 a week can add up over time.
Cut back. Pick one or two things a month that you can either eliminate or cut back on. For example, if you are used to stopping at Starbucks every morning, start going every other morning and bringing your own coffee on off days. That saved money goes directly into your savings.
Everyone saves differently, so you will have to look for methods that work for your situation and family. I suggest reading Zen Habit´s post on this topic for some extra ideas. And if you have any saving tips of your own, be sure to leave them in the comments!
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Yep cutting back on Starbucks alone really adds up! Those darn specialty drinks are expensive…