I want to dedicate this post to all the women entrepreneurs I have met and coached over the years and my past self. Oh how much I have grown! As entrepreneurs, we know that the flow of money can ebb and flow; this is why it is so important to know your numbers in business. You may not like numbers and yes you can outsource to a bookkeeper but you need to know enough about your numbers so others are not taking advantage of you. Do not give the power of monetary decisions without knowing about your return on investment and the risks involved. This deferred action can mean financial suicide. You are a strong independent woman – be in the know- think like a business owner. Whether we are talking personal or business numbers, the same principles apply.

Too many women are saying but I have no money…but you see them shopping regularly, going to get their nails done regularly, and even going to the spa regularly. I am not saying that doing these things are not fun and rewarding. I just do not want to hear how hard up you are for cash when there are things you can be doing to get what you say you want. Yes, I know not all women are doing these things but if you track your finances and pay attention to where the money is going you can identify the “leaks” – in other words, where frivolous spending may be occurring.

During a recent trip, I read an article in the Financial Post – Personal Finance section, The Small Things are Sinking our Budgets. The writer wrote about a 25 year old real estate agent and her room mate who frequent a high end frozen yogurt shop 3-4 times a week costing them up to $4160 per year. Shocking I know! A little treat here and a little treat there -all add up!

Just think of all the things you could do with all the extra money – take a vacation, invest in real estate, hire a coach, pay off your mortgage or student loan, or save up for your child`s university or college fund.

Here are 9 money saving strategies:

1. Make & Take Your Lunch. Some women will try and justify this with I work so hard at work and home I should be able to treat myself. I know you work hard but this alternative is easier on the pocketbook and healthier for you. Plus, you know what you are eating. Personal trainers and other health and wellness experts share the same philosophy of packing a cooler especially if you are running errands. If you find taking a lunch daunting, start gradually by decreasing the amount you are eating out to 2 times per week. Track your money and weigh scale. Take leftovers. Better yet, put food in a crockpot – seriously, a mom`s best friend.
2. Cut out or cut down on the daily lattes or teas. Have you ever looked at the extra number of calories in a double double. Drink water; it is better for you!
3. Avoid buying in bulk. You may think you are saving money but there are times that by the time you actually use all you have purchased that it has spoiled or gone stale and then you are just throwing it out.
4. Cut out on convenience foods. Think about the price you pay for a bag of salad versus a head of lettuce. Big cost difference.
5. Avoid going out for drinks regularly. Drinks often cost anywhere from $8-12 per glass. Have a glass of wine at home before going out and ensure you have a designated driver. Do not drink and drive.
6. Take out books, movies, and magazines from your local library. Many women have multiple magazine subscriptions or buy books and movies but never get a chance to read them. Donate them or sell them if you do not plan to read them.
7. Shop intentionally for what you need and want.
8. Consign household items, jewelry, and clothing that no longer fits or you no longer want. What you do not want, can be another person`s treasure.
9. Declutter your space. Sell off items that no longer have value to you.

Start putting your money into creating a life you love. Your money is a tool that needs to be used wisely so you can be, do, and have what you want and need. Let the SMALL money strategies lead you to the BIG things you want in your life.

What is one strategy that you have used to gain more control over your money Comment below.