Starting a new company is an expensive business proposition. For those who have never started a company before, the costs of renting an office, paying employees, and meeting a shoestring budget can overshadow the excitement of starting a business. There are several ways to save money until your business starts generating the sort of capital you intend.

First, do not use your personal debit or credit card to make purchases for your startup company. Instead, place set amounts of money on a Visa prepaid credit card so that you never spend more money than you intend. Instead of racking up unintended debt, this card will stop you from making any further purchases.

Second, consider starting your company right out of your own home. Instead of paying rent, utilities, parking, etc. at off-site premises, starting your business out of your home will allow you to save a lot of money in the short-term until your business becomes profitable.

Third, do not hire any employees until you are sure you can meet a payroll. Many startups run on a shoestring budget for a while until they start generating a profit. If you are your only employee, it is fine not to pay yourself until you turn a profit. An employee you hire to work for you will be much less understanding if they don’t receive a check. In addition, employees often have families and expect medical, dental and life insurance. Do as much of the work as you can in your startup until you reach that point of profitability where you are comfortable hiring an employee.