Introduction

As a female entrepreneur, it’s important to prioritize your money. You’re always going to spend money and there is nothing you can do about that. However, if you start budgeting your money and controlling where it goes, then you can save more of it, and in turn, have more money to invest in yourself and your business setting you up for financial freedom. Here are some tips that I implemented in my own life that afforded me the opportunity to save money as a female entrepreneur:

Stop eating out and cook at home

This is a big one. We all know that eating out is expensive, but it’s also a luxury. It’s not something you need to do every day or even once a week to be happy and healthy (and if you’re an entrepreneur, it definitely isn’t). It’s easy to turn into an unhealthy habit when there are so many options available at any time of the day — especially if your office has free lunch!

Cooking at home will save you money and help keep your diet on track. You’ll also have more energy for work because cooking doesn’t require as much effort as going out does. Plus, by making meals from scratch rather than buying pre-packaged foods from the grocery store or ordering delivery every night of the week (or even multiple times per week), you’ll avoid unnecessary calories and additives that could affect how well your body functions during stressful periods like those caused by running an online business!

Budget

Budgeting is a key component of any successful business. It’s important to stay on top of your finances and make sure that your business has enough capital to keep going. Here are some tips for creating a budget:

• Assess your finances
• Create a budget based on what you have to spend, not what you want to spend
• Stick to it

Cut out alcohol or other expensive vices

Cutting out alcohol or other expensive vices is a good first step. Whether it’s weekend boozy brunches with your girls, or meeting them for cocktails after work, this can be an unhealthy vice when done in excess and a potential hole in your pocket. If you want to turn up with the crew, buy a bottle and hang at the house!

Negotiate

Negotiation is the process of bargaining with a vendor, supplier or business partner on price and other terms. The key phrase to negotiation is “Is that the best you can do?” You must be willing to walk away from a deal if they say no.

You should never feel bad about asking for what you want or negotiating a better deal. If you feel uncomfortable asking for something, try using these phrases:

• “I really like this item but it’s just out of my budget.”
• “I would love to make this purchase but I need some help with pricing.”

Sell or swap clothing

It’s true that we all have items in our closet that have been gently worn, and would perhaps be a better fit for someone else, especially if it’s been months or years since it has been worn. If you have some clothes or accessories you are no longer using and want to get rid of them, consider selling them online or swapping them with another female entrepreneur.

• Sell your gently used clothing on Poshmark (or other similar apps). You can earn extra cash by selling your used clothes at a fraction of the price they were purchased for!
• Swap with friends! If there are other entrepreneurs in your life who love fashion as much as you do, ask if they’d be interested in swapping some of their unused items with yours instead of purchasing something new.

No to upgrades

When you’re working on a tight budget, your money should go towards things that make the biggest difference. That means no upgrades and splurges. If you need a new phone or laptop, buy one of those old models at half price. You can also check out Craigslist for deals in your area–you may find someone who’s selling their old computer for less than it would cost to buy a brand-new one!

If there’s something else on your wishlist that seems like an absolute necessity (like a fancy pair of shoes), try waiting until after payday before buying them so that your spending stays within budget more often than not.

Move items from your Amazon cart into your wish list.

Amazon is a great place to find deals on everything from makeup to books. But did you know that Amazon also allows customers to add items they’re interested in buying to their wish lists? This is an easy way to save money and keep track of what items you want without actually buying them just yet.

You can even use Wish List as a tool for gift-giving purposes: When someone asks what they should get you for your birthday or Christmas, just send them this list!

Don’t buy everything new.

Buying new things is fun, but it can also be expensive. You may have heard that buying used saves you money and helps the environment, but there’s more to it than that: buying used items also has a lot of aesthetic benefits!

• First off, if you’re looking for something specific (like a vintage typewriter), then you’ll find what you need at a thrift store or flea market much faster than in an ordinary store. You might even get lucky enough to find something better than what was available when this item was first released on the market!
• Second of all, by shopping secondhand rather than purchasing new goods from retailers like Amazon or Walmart (or even eBay), we’re supporting local businesses that employ people in our communities–and those local jobs are vital for keeping our economy strong in these uncertain times.*

Buy in bulk and freeze food that may go bad before you eat it.

One of the easiest ways to save money is by buying in bulk. If you shop at Sam’s Club, Costco or BJ’s then this is an option for you. However, if not then look for another grocery store that sells its products in bulk and try it out! You will be surprised how much money this can save over time and also how much food lasts longer than normal packaging would suggest it would. Plus there are many ways to freeze food (if it doesn’t already come frozen) so that it doesn’t go bad before eating!

Outsource what is not in your zone of genius so you can focus more on your business.

As a female entrepreneur, you know that time is money and if certain tasks require extra help to maximize efficiency, go for it. If you are not good at graphic design or web development (or whatever else) then outsource that work so that you can focus more on what makes your business unique: YOU!

Conclusion

In the end, there is no right or wrong way to save money as a female entrepreneur. You just have to find what works for you. Keep in mind that there are many different ways to save money, so don’t feel like your only option is cutting out expensive vices or shopping in thrift stores. If all else fails, try using these tips as inspiration for creating something new!