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A Penny Saved . . .

and you've taken your first step to starting a business.

By Nichole L. Torres

Opinions expressed by Entrepreneur contributors are their own.

You and your spouse both work, and you're barely makingit--how will you save money to start a business? We asked DavidBach, author of Smart Couples Finish Rich (Broadway Books),to share some money-saving tips:

  • Take a close look at yourexpenses. Keep track for a few months to see exactlywhere the money goes. (A program like Quicken or Microsoft Moneycan help.) Divide expenditures into fixed (every month) andvariable (change from month to month). "Go through it, almostwith a knife, and figure out what you can cut," Bachsays.
  • Reduce spending. If oneperson quits working to start the business, you'll only haveone income to work with. Practice living on that one income now.Things like switching from "super cable" to basic cablecan save you from $50 to $80 per month. Clip coupons and buygeneric-simple changes add up.

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