How To Start Saving Small

Maintaining your personal finances can be tricky. From organizing monthly bills to preparing for unexpected costs, it can be difficult to get started. Saving money is an important first step in starting on your financial journey. If you want to begin saving now but aren’t sure how to get started, there a few easy and simple ways start saving small:

Wait 30 Days

It’s easy to fall victim to impulse buys. We see something we like, have just enough money to make the purchase, then wonder where all the money has gone about a month later. If you are debating on a purchase, do not rely on impulse. The term “treat yourself” may have become a viral trend, but it’s not fiscally responsible. Try waiting about 30 days before making a purchase to think about if you can really afford it or if it’s something you actually want. This will help save money to store away in your savings.

Meal Prep

Most of us have food slowly wasting away in our fridge--food we forgot we’d purchased. Not only is this a waste of food, but it’s also a waste of money. Instead of aimlessly walking down the aisles of the grocery store wondering what to make, make a grocery list and start prepping your meals for the week. By meal prepping, you’re able to buy ingredients you need for the week and won’t waste on foods you won’t eat. This will help cut back costs on overspending on groceries and wasting money on eating out.

Shut Off the Lights

One of the bills that eat through the most cash is electricity. It may not be the highest bill on your list, but it’s one that is most wasteful. You are able to cut back on your electricity tremendously just by shutting off the lights. This doesn't mean living in the dark all the time, but simply remembering to turning off lights in rooms you aren't using. Many people can get forgetful in terms of shutting off lights or other devices that build up the electricity bill. By remembering to shut off the lights and conserve energy, the electricity bill in half and save some money.

Have a Plan

It’s important to have a plan of action to help maximize your savings. Have an idea of how much you want to save, what you’re saving for, and start setting goals for yourself. A savings plan keeps you motivated and keeps you on track for your financial goals. It can help show where necessary cutbacks need to be made and what you’re already doing right. Starting a savings fund or account can be easily done by taking the necessary first step of having a plan. Saving money can be intimidating at first, but starting small can make it a little bit easier.

Is Your Business Ready for a Disaster?

When building a successful business, there is much to be put into consideration. Outside of the usual business networking, talking with investors, and targeting consumers, there is one task many businesses fail to prepare for. When evaluating your business, you must always be ready for a disaster. A natural disaster such as a hurricane or a tornado can wipe your business off the map, and you need to be prepared:

Look at the Risks

Every business will be in danger of a certain disaster depending on their geography. When accessing what risks you may be at risk for, look at your location. Certain locations threaten hurricanes, earthquakes, tornados, wildfires, floods, or extreme winter weather. If any of these large-scale disasters are a threat in your area, then they are a threat to your business. It’s also imperative to keep in mind other important areas of your business when preparing for disaster.

Think about where goods, products, or tech equipment is stored. In order to be certain you are covering all of your bases, fill out a risk assessment from FEMA. Another way to get started is by taking out insurance on your business if you haven’t already. Talk with an agent to be certain that you are covered for any disasters that are a threat to your business.

Disaster Plan Committee

When developing a plan, it’s important to appoint a single person to coordinate everything. This disaster plan coordinator should be in charge of the plan in general, but the manager or supervisor of the business must delegate what should or should not be included in the plan. The disaster plan coordinator should first develop a committee of employees from each department of the business to create a preparedness plan. Each member of the committee will be able to contribute risks each department should be prepared for.

Key Points of the Plan

Every disaster plan most focus on employee safety, the stability of the location's environment and what keeps the business running successfully. When looking at these key factors while preparing for disaster, create a guide or reference document for you and your employees to look at. The disaster coordinator and committee should have an evacuation policy, a call list of employees for information on what to do, employee emergency contact information, and someone in charge of rescue and medical duties.

It’s also important to keep in mind certain factors of special circumstances. Some business operates with chemicals or hazardous materials in their location. When developing a plan, there should be specific guidelines on how to handle these materials when disaster strikes. To help build your business’s plan requirements, be sure to visit Red Cross: Ready Rating, U.S. Chamber of Commerce: Small Business Disaster Preparation Quick Guide, FEMA: Business