10 Reasonable Ways For Entrepreneurs to Save Money

Cut costs without making huge sacrifices with these tricks.
10 Reasonable Ways For Entrepreneurs to Save Money
Image credit: Sharon McCutcheon

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
6 min read
Disclosure: Our goal is to feature products and services that we think you'll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.
When you’re just starting out or making a concerted effort to grow your business, it’s important to find areas of your personal and professional lives to cut costs. However, while some people might take that too close to heart and start living off Maruchan ramen, you don’t have to make dire sacrifices in order to save a few extra bucks. These ideas can help:

Eat Out Less

Eat Out Less
Image credit: Sun Basket

The cost of dining at restaurants can add up fast, even if you’re just getting a breakfast sandwich every morning. However, when you’re spending long hours at the office, it’s difficult to make time to grocery shop and cook for yourself. As such, not only do you wind up spending too much money at restaurants, but your nutrition may suffer, too.

A meal subscription service like Sun Basket can save you time and money by delivering complete, organic meals right to your door that are ready to eat in as little as five minutes. All of their chef-crafted, dietitian-approved meals are made from premium, clean ingredients so you won’t have to worry about maintaining your diet, either.

Alternatively, you can meal prep for the week on the weekend, saving money by having all of your meals planned out ahead of time. That still requires cooking but with an Instant Pot, you can prepare a large amount of food that can last you for the week.

Cancel Your Gym Membership

Cancel Your Gym Membership
Image credit: Tonal

Fitness is often one of the first things on the chopping block when you’re forced to tighten your belt. (Irony fully noted.) However, there are many more ways to stay in shape than paying $50/month for a gym plus the cost of classes. 

Tonal is an all-in-one fitness system, letting you get a full-body workout at home while providing access to a virtual personal trainer. Not only will you save on gym fees, but you’ll have a more personalized workout experience that you can do at home.

If you love spin, you don’t have to sacrifice that either. The EX1 Bike lets you say goodbye to $30 SoulCycle classes while still giving you access to live and on-demand classes with top trainers so you don’t have to sacrifice your sweat.

Renegotiate Recurring Bills

Renegotiate Recurring Bills
Image credit: NordWood Themes

Everybody has recurring payments that become simple facts of life. However, with Truebill, you can connect your recurring bills and their expert negotiators will sniff out hidden discounts or promo rates available to you. From there, they’ll either discover a lower monthly rate or score one-time discounts, helping you out in the short term.

Automate Your Savings

Automate Your Savings
Image credit: Michael Longmire

When you’re cutting back, it’s important to not neglect your savings. You’re still in it for the long haul. Acorns makes it so easy to save, you almost won’t realize you’re doing it. Acorns connects to an account of your choosing and rounds up the difference between every dollar you spend, depositing the difference in a personalized investment account. It’s a savings account that doubles as an investment portfolio, providing more significant gains.

Reduce Energy Costs

Reduce Energy Costs
Image credit: Jonathan Farber

Energy costs, especially if you lease an office space, can be sky-high for entrepreneurs. Save money and help the environment at the same time by investing in some LED Light Bulbs. These bulbs can help you save up to 85% on your energy bill and will last for up to 18 years without needing a change.

Similarly, heat costs can be crippling in the winter months. Rather than turn on the central heating twice a day or loading up on blankets, get a 1500W / 750W Ceramic Space Heater. With an adjustable thermostat control and quiet operation, it’s a perfect addition to any office space.

Make Your Own Coffee

Make Your Own Coffee
Image credit: BRUNO CERVERA

Say you buy a $4 coffee every morning. You work five days/week — roughly 20 days/month. That adds up to at least $80/month! It’s like an extra car insurance payment. Nobody is asking you to give up coffee but you can be smarter about it.

Trade helps you discover your taste preferences and delivers beans from top roasters from around the world. That helps you save in the long run as you make your own coffee that you love.

Prefer cold brew? The Gourmia GCM6800 Automatic Cold Brew Coffee Maker lets you make delicious cold brew in as little as ten minutes.

Ride Your Bike to Work

Ride Your Bike to Work
Image credit: Clem Onojeghuo

Riding your bike to work kills a few birds with one stone. You save money on gas, contribute to a healthier planet, and commit to that fitness resolution all at once. The Schwinn Discover Hybrid Bike is a durable, affordable 21-speed bike that’s great for commuters.

Drink More Water

Drink More Water
Image credit: Amazon

Yes, drinking water can save you money. Think of the beverages you buy during the day. Do you love La Croix? A soda from the vending machine? Do you go out of your way to buy a snack? When you have a Hydro Flask Water Bottle, you’ll stay hydrated, sated, and energized without feeling motivated to blow your paycheck on fancy drinks or snacks.

Take Care of Your Teeth

Take Care of Your Teeth
Image credit: Amazon

Sometimes, the best offense is a good defense. That’s especially true in oral hygiene. You never know when you might have to make a painful, expensive, unplanned trip to the dentist. Getting a root canal can easily run you over $1,000, so why not avoid it entirely? The AquaSonic Black Series Ultra Whitening Toothbrush is just $36 and packs a 40,000 VPM motor that blasts away plaque and bristles that get in between teeth. Plus, keeping up a good brushing regimen will give you a brilliant smile that might just help you close some deals.

Exercise For Your Health

Exercise For Your Health
Image credit: Holly Mandarich

One of the most important things you can do for your bottom line is simply take care of yourself. Hiking is a healthy way to clear your head, improve your physical condition, and prevent burnout. When you’re feeling exhausted and unmotivated, you can’t do your best work and your business can’t grow. Don’t get to that point. Grab a pair of Columbia Men's Newton Ridge Plus II Waterproof Hiking Boots or Columbia Women's Newton Ridge Plus Waterproof Hiking Boots and get out on the trail.

More from Entrepreneur

Learn how to get your own business launched with our on-demand start-up course. Whether your ready or just thinking about starting your own business, get started for free with our first 3 lessons and receive a personalized 1-page business brief.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Entrepreneur Store scours the web for the newest software, gadgets & web services. Explore our giveaways, bundles, "Pay What You Want" deals & more.

Latest on Entrepreneur