Small Business Owners: 4 Innovative Money Saving Ideas For Your Home Office

When it comes to saving money, no one does it better than the small business owner running her office from home. After all, it's already a standard routine for people operating from home to cut back and reduce expenses.

You may have heard the saying that cautions against being "penny-wise and pound-foolish." This refers to the practice of being thrifty with small amounts of money but careless with large amounts. Sometimes home-based business owners place too much stress on being penny-wise and in the process wind up being pound-foolish.

Continue reading to learn how these four creative ideas will help you be penny-wise, not pound-foolish, in your home and home office.

Four Ways to Be Penny-Wise, not Pound-Foolish

1. Use Time Banks to barter for services.

What's Time Banking? It's about bartering time in your community. For every hour you spend doing something for someone else in your community, you earn one Time Dollar. Then you have a Time Dollar to spend on having someone do something for you. It's that simple. Yet, it also has far-reaching effects.

Time Banks are changing the way neighborhoods and communities interact. In 22 countries and on six continents, they are already creating a strong social change movement. To find a Time Bank in your area go to www.timebanks.org.

2. Consider having a home office exchange party.

I organized one a couple of years ago, and it was a big hit. As a home-based small business owner, I knew a lot of people in my area working from home. So, one day, at one of the regular networking events I attend, I put forth the suggestion of hosting a home office exchange party.

The next month, everyone brought things from their own home office that they wanted to sell or trade. Items included everything from cellophane tape, paper and dry erase boards to computers, printers, and office furniture.

3. Rediscover the radical idea of going to the library.

You will be blown away by how far your free library card will get you these days! Imagine having Internet access and thousands of business books at your disposal. Plus hundreds and hundreds of business CDs and DVDs for free.

Don't give in to the assumption that you have to go to a bookstore to purchase your business books. Either visit the library or buy used copies online.

4. Consider a yurt for your home office.

What's a yurt? It's a modern adaptation of the ancient shelter used for centuries by Central Asian nomads. Though they are an ancient form, they are structurally sound, long lasting and low-maintenance.

A simple, sustainable, and affordable yurt can become your home office away from home. With its circular, collapsible framework, a yurt can be installed just about anywhere. Add a woodstove to keep your home office warm throughout the winter. To see if a yurt would be a suitable home office for you, visit www.yurts.com.

No doubt about it, when it comes to saving money, no one does it better than the small business owner running her office from home. Yet being penny-wise and spending less doesn't have to be tedious. Creative, money-saving opportunities for your home and home office abound if you know where to look. Have fun while you're saving with these four creative penny-wise ideas that won't make your home office pound-foolish later!


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