5 Tips for Saving Money

5 Tips for Saving Money

By Abby Johnson – Fri, 09/17/2010 – 5:05pm.

How you can use discounts to save big!

Everyone loves to receive discounts, right? Well, did you know there are multiple ways in which your business can save? Anita Campbell, the founder of Small Business Trends, recently wrote a post that revealed 5 tips for finding discounts for your business. They were so good, we just had to share them.

As the above video points out, where these discounts are found might come as a surprise to you. For example, the first place to check is in all recurring invoices and billing statements. Many times, there are discounts in these documents that you could be eligible for.

It could be that the discount is available if you make an early payment. To take advantage of this opportunity, set up automatic electronic payments to ensure that you don’t miss out. If you pay by paper checks, then post reminders to make sure that you get the discount and save money.

Another way to get a discount is to simply ask. You will never know what will happen until you try it. If you have had a long relationship with a specific vendor, see if you can reach an arrangement that would honor your past loyalty. Another approach could be to ask for a discount on the promise that you commit to do business with them for a certain amount of time.

Thirdly, if you consolidate your services and use one provider, you will likely get a discount. This method draws double benefits since the consolidation not only makes the roles of management easier, but it also could bring in a large amount of savings. Telecommunication, Internet, and insurance companies often offer services such as these.

Partnering with vendors is the fourth method that Campbell raises. By partnering with vendors, you could receive frequent discounts as well as other perks. Credit card companies, financial institutions, and online communities are just a few of the organizations that have these programs.

Lastly, signing up for vendor newsletters usually provides discounts. Most businesses shy away from these discounts because they don’t want to receive all the email. However, sometimes you have to take the good with the bad. These newsletters distribute lots of coupons and, sometimes, even include coupons from their business partners.

In the end, all these discounts could add up to a lot of money over time. The money that you save could be used in many aspects of your business and could also help it grow.

Are you taking advantage of these discounts?

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