How to minimise your expenses to save you money

Number 1 - Utilities

Gas, Electricity, Water, Phone and Fuel. These are all commodities. That means they are available from a variety of sources. 

Make sure you are getting the most value for your money. For example, a business that has their employees purchase fuel from a single petrol company could obtain extra frequent flyer points, meaning it could help pay for flight expenses.

Number 2 - Rent

In 2024, working remotely is now a real option for many businesses. Do you need a physical location? If you do, are you utilising all the space you have? Can you make do with a smaller space, which can save you a great deal of money. Rent or mortgage is usually the single biggest fixed cost for a business, so make sure you are using what you’re paying for.

Number 3 - Insurance

- it’s critical, but make sure you are getting the best deal you can. Get comparison quotes whenever you need a new insurance product. And it’s a good idea to do a yearly review with your insurer to make sure you are not under or over insured for any particular aspect. Don’t be afraid to talk to other brokers - it could save you a lot.

For help with your bookkeeping or business needs, contact us today.

Disclaimer

This information is intended to be general in nature and is not personal financial advice. It does not take into account your objectives, financial situation or needs. Before acting on any information, you should consider the appropriateness of the information provided having regard to your objectives, financial situation and needs.