9 Tips to Do to Save Money to Start Your Dream Business

If you want to be in business, you must come up with the money to fund your dream. In my book, Become Your Own Boss in 12 Months, I teach my readers to take a proactive approach to funding your small business by saving your own money. It is called bootstrapping to fund a small business with your own money. People who have the discipline to save 30-40% of every paycheck have options when it comes to starting a small business. Here are 9 tips that you can do to save money to start your dream business.

Go cash only. If you don't have the cash, you don't buy it. If you stop using your check card or credit cards to pay for everything, it's much easier to stick to a weekly budget for yourself.

Cook at home and bring your leftovers to work for lunch. You'll save money, get a healthier meal, and spend more quality time with your family. Look for free recipes online and start cooking!

Turn down the hot water heater. Heating water is the third-largest portion of the typical family's energy bill. Heat water to 115-120 degrees to reduce power consumption.

Grab a sweater. Turning down your thermostat five degrees and keeping a throw blanket nearby to save money on heating costs. The American Council for an Energy-Efficient Economy (ACEEE) says that for every degree you lower your thermostat, you'll save about 3% of your heating bill. Putting your thermostat on a timer during the workday or while you are asleep will have an even greater effect on your heating bills.

Pay your mortgage twice a month to reduce payments. It is the accelerated payment program. Your mortgage company or a third party vendor offers this service for a low or no fee. The money will be automatically debited from your bank account. An extra mortgage payment is made each year; you can reduce a 30-year mortgage to a 22-year mortgage.

Drink at home. Stay out of the bars. Drinks are much cheaper when you pour them yourself. Alcohol is much more economic at the liquor store than at your favorite watering hole.

Keep driving your car. Drive your car until it stops running. As a new business owner, you can no longer afford to upgrade your vehicle every two to three years. Buy a reliable car and take care of it, so you can ride without a car payment as long as you can. Try to plan your days so that you can do lots of major errands on the same day to minimize gas and parking expenses.

Avoid 90 days, 6 months or one year -- same as cash deals. If you do not have the money the day you are making the purchase, chances are you will not have it in 90-days, six-months or a year from when it's due. Keep in mind if you can't pay, the interest rate is hefty and is compounded back to your original purchase date.

Cut back on Starbucks, Dunkin' Donuts, and Netflix. Coffee is cheaper when you make it yourself. The money you spend each week on unnecessary extras can really add up. Treat yourself only once in a while. You'll be shocked how the money you save will add up.

Focus your finances to start your business around three pools: A budget to run your home, working capital to launch your business and an emergency savings fund. Managing money to start your dream business can seem hard. However, if you practice these simple money management tips, you will have the money you need to be saved in no time.