Money is one of the biggest factors that hinders entrepreneurs from being able to fully invest in their business. It is also one of the biggest elements that prevents people from stepping into entrepreneurship. Truthfully speaking you don’t need a ton of money to start a business and you don’t need an investor to be successful. I started my first business, A la carte Galore, over 2 years ago with about $500 that was used to purchase my domain, hosting, website, and logo. One month later I invested in business cards and promotional flyers.
Much like many aspiring entrepreneurs, I didn’t have $500 sitting around, but I found a way to get it. I pulled my most recent 3 bank statements at the time and analyzed where most of my money was going. Outside of my monthly bills I spent a ton of money on dining out and shopping. Totally unnecessary spending. One month into cutting down on bad spending habits I was able to save the $500 I needed to invest in my business.
Many times we use money as an excuse when we already have the money we need. We just need to be more conscious of our spending. So if you are ready to shift your creative mindset and get access to the funds you need for your business, here are 4 money savings tools you can start utilizing today.
I use coupons on almost every purchase I make. If you are going to shop online, at least make sure that you are getting the best savings. Honey is a Chrome browser extension that automatically applies the best coupon at checkout.
Sign up *here today for free.
If you have trouble saving or forget to deposit money into your savings account on a consistent basis this is the perfect tool. Digit allows you to save money without even thinking about it. You link your checking account, it analyzes your spending, and every couple days it’ll transfer small dollar amounts to your Digit savings account. A few weeks or months later you’ll look up and realize you’ve saved enough to purchase that business tool you’ve been wishing you could afford.
The app will never transfer more than you can afford so you don’t have to ever worry about overdrafts. Whenever you want to access your Digit savings you can transfer it back to your checking account and it will be available the next business day. Unlimited transfers, no hidden fees, no minimums, and totally secure.
Sign up *here today for free.
My Fridge Food
As entrepreneurs we are always on a budget and we tend to cut back on food to save money. However, you don’t always have to eat ramen noodles and popcorn. My Fridge Food creates recipes based on the contents you have in refrigerator.
Sign up free at myfridgefood.com
Are you familiar with micro-investing? Acorns automatically rounds up your purchases to the nearest dollar and invests the spare change into stocks and bonds.
Sign up *here today and get $5 to invest in your account. Paid plan $1/month or free for college students
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Let’s save some money!