Finding New Ways to Save Money

You own a business, and every penny that goes to expenses comes out of your pocket. Yes, it's great to have tax write-offs, but it's almost always more profitable to reduce those expenses to a minimum and pay taxes on what you get to keep. To fatten your wallet, it's necessary to emulate an aspect of a successful business owner - being a creative skinflint. It even can become a game, where you look for ways to get what you legitimately need and find ways to pay as little as possible. Here are some examples from my own business:

• Need to rent a car? Try asking for an economy. Sometimes you get stock with a very small car, but when a national chain like Enterprise has run out of the low-end, you get an upgrade while still getting the economy price.


• When you're traveling and need to be in touch, consider using Skype Pro, a software package and service that turns your computer and broadband connection (make that laptop and hotel or public wireless hotspot) into a phone. For $3/month, you get up to 3,000 minutes per month of calls to landlines and cell phones in Canada and the US, and another $36 a year (total of $6/month) gets you an inbound phone number that will follow you. Depending on your phone use, that can be a good alternative to a cell phone. Check the site for info on international calling.


• While on the topic of telecommunications, need a fax number? I get mine through Faxaway.com. The downside, if this is one, is that it comes with a Washington state area code. All faxes come in as emails, and the cost for unlimited fax reception is $1 a month.


• Ink jet cartridges can be expensive, and most of your printing is probably black and white text. Consider getting a used laser printer. One cartridge at about $60 can cover thousands of pages of printing, reducing the per page price to a few pennies at most. Connect the laser through the printer port on your PC and hook the ink jet through the USB connection (most have them). Then pick whichever printer works best for you.


• Are you a member of AAA, AARP, or any other organization? You may be eligible for discounts on hotels, car rentals, and other expenses. If you can get a lower price, might as well take it.


• Try negotiation. Ask for better rates, upgrades, etc., and you may get them.


• If you need a digital camera or consumer electronics device, make the business models of the manufacturers work for you. Generally new models come out every six months or so, and everyone starts discounting to get rid of the old and ring in the new. Get a model or two back, and you'll find plenty of features at an attractive price. For digital SLRs, the turnover in models is a bit slower, but the principle holds true - buy a model or two back, and chances are you'll get everything you need.