Start the Business of your Dreams. 

These tips will you make little changes that can add up to more capital. So, you’ve landed on an idea to start your own business. You’re feeling passionate and your mind is overflowing with plans, ready to take on the world. But what if your bank account isn’t exactly bursting at the seams? Well, you’re not alone. According to a recent survey, more than half (57%) of Americans have less than $1,000 reserved in savings, while 39% have nothing at all.

But don’t fret! There are plenty of opportunities in your everyday life to make little changes that can turn into cold hard cash before your eyes. Below are 21 easy ways to start building savings to start your small business.

Financial Management

Keep Them Separated

It can be tempting to move money from your savings account into your checking account, so try setting them up at two different banks. You’ll need to jump through more hoops to make the transfer, which will give you a moment to reflect on whether you really need to move your funds.

Go Cash-Only

Whether you enforce the rule for a week each month or a few months each year, going cash-only will force you to examine your spending in a way that doesn’t happen when you’re swiping a card for everything.

Automate It

Whenever possible, put your bills on autopay. This will help you to both budget properly each month and avoid costly late fees.

 Refinance

This is especially important if you’re carrying a lot of student loan debt. Look into all your options for refinancing a loan and make sure you’re getting the best interest rate possible.

 Don’t Spend What You Don’t Have

Ultimately, many people find that credit cards aren’t a good option for them. If you stick to cash and a debit card, you’ll guarantee that you’re only spending money you have on-hand. Don’t let the allure of credit prevent you from being able to save money.

Transportation

 

Ditch the Car

If you live in a city that’s easily walkable or bikeable, or that has a robust public transit system and ridesharing in place, you can save a ton of cash by letting go of your car. You could save on lease payments or, even if it’s paid for, added expenses like insurance, gas, and maintenance.

Switch Insurance Providers

If dropping your car isn’t an option, at least look at what you’re paying for monthly insurance. You could save a bundle by switching to a new carrier, especially one that offers safe-driving discounts for responsible drivers.

 Take Your Foot Off the Gas

If you’re going to drive, make sure you do so safely. Not only is it smart, it will also save you cash. Avoiding aggressive driving maneuvers and speeding will increase your fuel economy and do less damage to your car’s internal systems.

 Maintain Your Vehicle

While it may seem like a financial drain to regularly rotate your tires or get the oil changed, doing that sort of preventative maintenance can save you a ton in the long run, helping to avoid costly major repairs that can be caused by neglecting that upkeep.

Food & Drink

 Brown Bag Special

It can be insanely expensive to grab takeout every day. Take a little extra time to pack your own lunch for work and watch the savings pile up.

 Pass on the Latte

Fancy coffee shop drinks are an Achilles heel for a lot of people. Assuming you have one per workday, making your own coffee at home could save you over $1,000 a year!

 Go Meatless

Even if it’s just one day a week, cutting meat out of your diet will help you save a few bucks with the added bonus of being a health-booster.

 Meal Prep

You’re tired from a long day and cooking seems like the least attractive thing in the world, so you fall back on takeout again. Avoid the trap by spending a few hours a month doing meal prep and freezing portions that can easily be warmed up on those rough nights.

 Health & Wellness

 Bypass the Gym

Gym memberships are notoriously expensive and underused. Take advantage of free online and community classes or make a pact to meet a friend regularly to walk, run, or play tennis.

 Go Generic

Whenever possible, ask your doctor to prescribe generic medications for you and buy house brands for over-the-counter items. If you only need the medicine for a short stint, it’s also worth asking your doctor if they can give you any free samples.

 DIY Beauty

While it’s great to treat yourself, if you can handle things like hair coloring, waxing, and manicures safely at 

home, you stand to save yourself a lot of cash.

Take Care of You

The most important thing you can do to avoid unnecessary medical expenditures is to take good care of yourself! Eat a balanced diet, exercise whenever possible, and get plenty of sleep.

Entertainment & Leisure

 Support Your Local Library

Instead of dropping a ton of money on Amazon for books, movies, and music, get a membership to your local library. These days, most even offer the option to check out ebooks!

 Cut the (Cable) Cord

Cable is one of the highest utility expenses a household can have. Consider dumping your contract and switching to more economical streaming services instead.

The Company You Keep

Focus on spending time with friends who aren’t lavish spenders. Aim for more potlucks and board game nights, and fewer nights of bottle service and five-star dining.

 Vacation Smart

Being thrifty doesn’t mean never getting to go anywhere! Rather, focus on traveling with purpose. Set up alerts on low fare watchdog sites and plan your trips during the off season to get the best deals.

These are just a few of the many small things you can do to add a few dollars to your pocket every day. With some dedication and effort, you’ll soon save enough capital to get your dream business off the ground!

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