Women at work and their tips, challenges, advice, complaints, and experiences

With all the talk about government financial overhauls and such, I'm thinking of how important it is for individuals and families to run their own financials and consider changes and overhauls themselves.  As frequent Workerette readers know, I'm pretty big about trying to find ways to save here and there and boost the budget.  Frankly, I think a lot of the ideas that work in the family environment can also be applied, in one manner or another, to businesses.  This is especially true of small and home-based businesses, of course, where the lines of business vs. personal finances tend to blur a lot more than the corporate accounting will.

After reading an interesting post over at Ordinary Life, Extraordinary God about ways to save on gas, I thought it would be interesting to discuss more ways we Workerettes can save - whether it be pennies or hundreds - and hopefully come up with creative ways to apply our thoughts on saving at home to the business environment as well.  Be sure to leave me your own ideas in the comments section when you're done reading; I am always on the hunt for more ways to save, and I'm sure you'll think of things business owners and employers can do to cut costs instead of cutting jobs.

Let's get started! 

1. Downsize the fleet: Personal application - do you really need three cars for two adults?  Does every teenager in the house really need their own car?  Some high schools give the primo parking spots to students who carpool; adults should consider carpooling, telecommuting, public transit and the like.  Business application - encourage carpooling by offering gas station gift cards or super parking spots to employees who carpool.  Consider downsizing your fleet cars for management; paying mileage for employees who occassionally drive rather than a car that sits in the parking lot (but still has to be maintained and insured) may be much cheaper for a business.  Consider buying memberships in car fleets also.  (This may serve you well when employees travel in other cities too, as they may be able to get a car there rather than a traditional rental.)
2. Stop loaning the IRS money: Personal application - if you consistently receive more than a $1,000 refund each year around tax time, it's time to discuss updating your exemptions.  Talk to your tax preparer and your personnel or finance manager about upping your exemptions.  It will put more cash in your pocket, allowing you to pay off debt or invest in an IRA or savings account.  I know some folks say their annual refund is like a "forced savings account", but you can set up automated savings programs that will actually earn you interest - which the IRS doesn't offer you in your refund!  Business application - help your employees examine this issue and encourage them to keep their exemptions updated.  The faster they pay off debt or build their retirement accounts, the less likely they will be to be distracted by financial woes on the clock.  They'll also feel like you're a partner in their success, rather than a faceless entity that doesn't care if they "go under".
3. Make a shopping list: Personal application - you know this will save you time and money at the grocery store, but it will also save you at the bookstore, the mall, and more.  Rather than wandering and grabbing what "looks good" or is on sale, do your research and check those coupons.  Having a list will also keep you on track so you don't grab everything in sight because you forgot what you really headed out for.  Business application - uh, hello, am I the only one who can wander Staples for an hour looking at all the cool office supplies and totally forgetting that I just "ran in" for an ink cartridge?  Exactly.  This is a huge trap for the self-employed, frankly.  After all, where else can you go under the guise of deductible business needs and end up blowing $250 on pens and paperclips?  Oh wait - there's always Costco.  heh heh.  If you really want to kill this habit, give the list of NEED items to an employee along with just enough cash and ask them to run the errand.  They may still dawdle here and there (who doesn't in warehouse stores?), but at least they'll only buy what you sent 'em for.