So many of us are now working from home, so here is a list of money-saving ideas for home offices and new businesses. While some were victims of COVID-19, others are flourishing, and new ones are opening. Now is the time to find a bargain or two for your home office or new business.
Purchase used furniture
You can buy furniture at a fraction of the price of new. Keep an eye out for estate sales, garage sales, and on Facebook Marketplace. You can find some real gems. You may also find the opportunity to purchase surplus office furniture at a university or college. Businesses that are closing may liquidate assets, which could come in handy for not just home offices, but a host of ventures.
Shop around for insurance
Don’t automatically renew your business, health, auto, and other insurances; ask your agent to review your coverage. Are there any areas you can save money?
Ask for a better deal
When you’re shopping for goods or services, always ask for a better price. The worst that can happen is they say ‘no.’
Trade services and products with fellow business owners or others working from home.
Pay your bills online
At the very least you’ll save time and money on postage. Also, some companies will offer discounts to customers that pay online. It’s worth asking suppliers about bulk purchasing and early-payment options too. You could end up saving a considerable amount of money.
Install antivirus software and keep it updated
Protecting your computer and/or tablet will save you money in the long run, especially if you were to lose data, not to mention if you pass on a virus to your customers.
Where can you prevent waste? You don’t need to print documents, even if they require a signature, you can do this online. If you do not need to print documents, you do not need to purchase printer, ink, or paper.
Don’t overlook tax deductions. In addition to deducting a percentage of your rent or mortgage interest and utilities, because you have a home office, you can also deduct a portion of home maintenance expenses as well as cleaning and lawn care.
Time is money
When you save time, you save money. Use time management tools not just for your day-to-day work but banking, bookkeeping, marketing, etc.
If you have any questions about our online bill pay offering or our commercial cash management service through online banking, stop by one of our branches in New Berlin, Springfield, Palmyra, or Modesto.