Caroline Beament is a Money Saving Mum and an active member of the Insiders, a community of business owners and professionals who support each other in their entrepreneurial journeys. Caroline has spent years finding the best ways to have fun, save money, and make every penny go further. In her new Money Mindset Course, Caroline shares all the mistakes she made that stopped her from saving enough for big holidays and the things that matter in life and guides you through how to save without feeling the pinch.
Here are 7 tips from Caroline that can help small business owners save more money for the fun things in life:
- Shop Around for the Best Deals
Caroline is a UW rep who saves between £300 and £3500 on energy bills. She knows the importance of shopping around for the best deals and not settling for the first offer that comes along. Whether it’s energy bills, insurance, or office supplies, it pays to do your research and find the best deals for your business.
- Keep Track of Your Expenses
Caroline stresses the importance of keeping track of your expenses and knowing where your money is going. This helps you identify areas where you can cut back and save more money. Use accounting software or spreadsheets to keep track of your expenses, and make sure to review them regularly.
- Set Realistic Goals
Caroline believes in setting realistic goals for saving money. Whether it’s a holiday, a new car, or a home renovation project, set a goal that is achievable and realistic. Break it down into smaller milestones and celebrate each milestone you achieve.
- Know Your Budget
One mistake Caroline made in the past was not knowing her budget. She recommends setting up a separate account for bills and food and putting away enough money to cover those expenses. This helps you focus on not buying unnecessary items and stick to your budget.
- Avoid Using Credit Cards
Caroline also learned the hard way that using credit cards for everything can be a costly mistake. While loyalty points are great, they’re not worth the debt and interest charges that come with using credit cards when mismanaged. Avoid using credit cards for everyday expenses and use cash or a debit card instead. Unless you know you can be trusted to clear the debt in full every month!
- Involve Your Family
Caroline involved her family in her savings goals, and it helped them stay motivated and committed to the goal. Whether it’s saving for a family holiday or a new car, involve your family in the process and make it a fun and collaborative effort.
- Join the Insiders
Caroline is an active member of the Insiders, sharing her knowledge and asking for help to grow her own business. Her new course benefited from ideas and strategies from Insiders so everyone can appreciate how powerful it could be to help you save more for the fun things in life.
As an Insider, you’ll have access to a wealth of knowledge, resources, and support that can help you save money and grow your business. You’ll also get to network with other like-minded business owners and attend events where babies are always welcome.
We love these tips! The Insiders attracts more than just business owners. With many nurses, doctors and teachers turning to us for support to set up side businesses that help with the ongoing increase in costs. Do join us!
Caroline is involved in our face to face Essex networking events (More across the UK coming very soon!) and our virtual events. Often with the gorgeous Lenny in tow – well behaved children, dogs and partners are always welcome.
Learn more about Caroline’s course, money saving ideas and how to save on your energy bills click here and feel free to mention us. We love hearing how you meet!