Money saving tips for tradesmen tend to rely on the old saying, prevention is better than a cure. This is a tough-going industry and tradesmen need to think tens steps ahead to prevent damage to their property and reputation. You have nobody to rely on but you.
It doesn’t matter whether you’re a newcomer to the trade or you’re a seasoned professional; managing your budget and time is an essential aspect of building a successful business. We’ve put together this easy money saving tips for tradesmen list to help you ensure you’re spending and saving wisely.
A lot of these helpful tips to save money are reminders to take care of what you’ve already got. Additionally, we believe being prepared and taking long-term, forward-thinking measures are the tricks that will save you money in the long run. Let’s take a look at these quick money saving tips.
7 Budget Tips to Save Money for Tradesmen
- One of your biggest and most necessary tools is your vehicle. Ensure this is regularly maintained and serviced, and you’re more likely to prevent surprise repairs popping up. Similarly, investing in excellent insurance is always a good idea when you use your vehicle for work.
- Don’t keep your tools in your car. This is not usually covered by insurance.
- Your tools need maintenance too. This expensive equipment is the foundation of your business. Find out everything you can about maintaining tools by researching them thoroughly. Clean them at the end of each job with tool cleaners and lube to keep them in top condition.
- Storing your tools correctly is another way to prolong their working life. Invest in a durable stackable kit box, and you can’t go wrong. One with plastic side clips that are watertight and dust-tight too.
- A good phone and internet package is vital if you’re a sole tradesman-your phone is your office. This advice applies to everyone in this day and age, but search for bill pay packages that suit your needs and don’t be afraid to switch providers if your needs aren’t being met. As well as that, get your phone insured and consistently back up your contacts.
- It’s not everyone’s favourite task but keeping a detailed record of your expenses and doing regular audits is important. Many people miss out on the cashback they’re owed by not keeping and handing in expenses. The thought of filling out tax forms may be daunting, but keeping records and receipts goes a long way toward making the process easier.
- Once again, this is solid advice for everyone not just a money saving tip for tradesmen. A regular look at your outgoings is essential, we recommend, twice to four times a year. You could be spending money on social media that isn’t getting you any new clients or perhaps a trade membership you don’t use. Other expenses that build over time is food and beverages while you’re out on the job. Easy money saving tips begin and end with bringing your own lunch and coffee.
Helpful Tips to Save Money
A few of these easy money saving tips for tradesmen are suitable for everyone, not just those in construction or trades These days, it’s too easy to sign up for things and wonder why money is disappearing from our accounts. So I’ve put together some budget tips to save money that can help all of us.
- What are you signed up to? Are you really using all those streaming accounts, that gym membership? Make a list of everything you’re signed up to regularly and ask yourself how much you’re really using it.
- Meal planning is a good way to cut back on food costs and food waste.
- Change providers regularly. Look for the best deals on energy, insurance, heating, internet, banking, phone and feel free to change regularly to avail of introductory offers.
- D.I.Y. This one should be easy for the tradesmen who have the skills, knowledge and confidence to maintain their properties. But for everyone else, try your hand at being more self-sufficient.
- This might sound a bit airy-fairy, but this year may have thought a lot of us about what we really need. Keeping this mindset going forward might lead to a better outlook and a more sustainable future.
Conclusion
A lot of these tips are nothing more than common sense. However, the common themes that underpin them are to be prepared, be forward-thinking vigilant. Being vigilant means regularly sitting down and auditing your incomings and outgoings. Complacency will see money slipping through your fingers faster than sand. We hope these money saving tips for tradesmen will help everyone.
