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9. Review, Repeat, and Reduce

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Once you think you have your complete list of your business expenses, you should continue to review these bills each month to ensure that no billing errors or issues arise. Although most of these items should require no more than a few seconds to review, failing to find errors can be costly. For example, a real estate business found an extra $100 per month was being spent on one rental home’s water bill. At first this additional cost was attributed to normal water usage during the hot Arizona summer, but eventually, it was traced to a toilet bowl flapper that had broken two months earlier. Although this repair cost the company only $5 to make, the failure of this trivial part added hundreds of dollars of expense to this company’s water bills before the issue was found. If they had continued to ignore monthly bill reviews, the item would have gone unnoticed and the high bill would have continued indefinitely.

19 Ways to Survive in a Tough Economy

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