By Contributing Author

Anyone who has ever tried to run a business knows that there’s far more to lose than gain, especially in the beginning. In order to substantiate your business’s growth, you have to invest in marketing efforts that drive new leads and convert them into loyal customers. How do you do that when your business budget is already stretched thin? Like many business owners before you, you’ll likely have to dip into your private funds to contribute to your company’s growth. Loans aside, most business owners invest thousands of personal savings into their company. You may not think there is any way for you to save more, but these tips might surprise you.

Pay Off Small Debts

Some people keep paying the same credit cards or medical bills for years because their payment plan works, but this can cause you to pay more than necessary. If you have the ability to pay off a debt in one lump sum, do it. This could be $500 on a credit card or the last couple hundred dollars on a bill. Free up as much room as possible in your budget by taking slightly larger deductions now to free up hundreds of dollars in payments over the coming year.

Find Insurance Discounts

There are many ways to save on insurance, including simple things like taking a defensive driving course or having multiple policies with the same company. Explore your options on your provider’s website, and call a representative to talk about ways you could be saving. You may also be overplaying for coverages you don’t need, so make sure you review all your existing policies. It can be tempting to lower insurance to the lowest limits if you don’t have any special needs but avoid skimping on the essentials. Your best bet is to strike a balance between coverage and expense, which often requires a bit of research and customizing your plan with a reputable agent.

Refinance Your Car

Refinancing is actually one of the easiest things you can do to save money. You may have taken out your car loan when you had less income and therefore got approved for a higher rate. Now, you can lower that monthly payment by applying to refinance your car online.

Stop Eating Out

Postmates and Uber Eats burn a whole in your wallet that is hard to replenish. Food is essential, but delivery isn’t. While it may consume a bit more time, meal planning and cooking at home will leave you with more options, more money, and less hassle. It can be hard to cut back on these expenses when you’ve grown accustomed to just placing an order and having dinner dropped off at your doorstep; you can still treat yourself once and a while, but try to go even 30 days without buying any food or drinks out and see how much you save.