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Fixed expenses are those things that are fixed. These are costs that don’t normally go up no matter how many new students you get to tutor (or how few you have to tutor – they don’t go down).
I good example of that would be health insurance (unless you include new employees in your plan). I wrote an article about saving money on health insurance you should check out.
You can negotiate with all the folks you have fixed expenses with. Some things will be easier to get for less (like insurance) other things you’ll have a more difficult time doing it (like rent). Here are some ideas for doing a bit of negotiating.
1. Do some price research – saying you can get something cheaper, isn’t as powerful as saying I have a quote from XYZ and they have offered me the same package for less.
2. Don’t be afraid to ask. The only thing they can tell you is no.
3. Do you really need the service or product. Do you really need the level of the product. Example would be your cell phone plan. Do you really need the ‘big’ plan or could you get by with the smaller one.
4. Invest your new savings in something that will bring you in more business – like advertising.
Got some ideas for saving money – we would love if you shared them with us using the comments below – or you can facebook us here.
Enjoy your day!
