6 ways to reduce your home office costs

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Take Control Over Your Finances With These 3 Easy Tips

If you are a business owner working from home, you are already saving a heap of money each month that would otherwise be spent on leasing commercial premises. Every penny saved counts towards your bottom-line profits, so it’s a good idea to regularly evaluate whether you could save money elsewhere too. There are many changes you can make to reduce your home office costs. Here are some examples to get you started.

Power down each night

If you have printers, scanners, and laptops running each day, get used to powering it all down every night. Whilst it might be easier to leave it all on stand by, the small savings you will make will mount up over time. Switching off at the wall is also far safer, so get into the habit, and before long it will become second nature.

Think before you print

If you start tracking how many reams of paper you get through each year, you might be shocked. Before you print anything, consider whether a hard copy is needed. Could the document be electronically filed instead? An electronic filing system can save you hundreds over a year and could also save you a lot of valuable office space that may currently be taken up paper files and cabinets. Not only will you be saving money in paper reduction but costly printer ink too.

Solar panels

If your home doesn’t already have them, it’s worth looking into how much you could save by having solar panels installed. Accordingly to Harvest Power, who install solar roofing in Long Island, customers can save hundreds of dollars on their electricity bills each year. Not only that, but the environmental benefits are also substantial. You will not only be saving money in terms of your business, but your household bills will also reduce.

Shop around for the best comms deals

From mobile phones to broadband, it’s a good idea to shop around and check that you are getting the best rates. Suppliers offer some very competitive rates these days, and many will even undercut their competitors, so it’s wise to shop around. You will need to make sure that you will receive a comparable service as anything less could be detrimental to your business, but you might be surprised at the potential savings available.

Hire an accountant

Whilst professional fees will be payable when hiring a qualified accountant, it could save you thousands in the long run. An accountant can not only help file your tax return, which will save you lots of time but can also give you pointers and tips on tax breaks and other financial loopholes that you may not have considered.

Buy second-hand office equipment

Whilst it may be tempting to buy or rent the latest technology, it is worthwhile looking into second-hand items too. You might find that you can get a printer or copier with similar capabilities but at a fraction of the price. You should check the product comes with some form of guarantee and/or has recently been serviced, but if you shop around, you might just grab yourself a bargain!