As a franchisee, you likely know just how imperative it is to keep control over all of your finances. However, it’s surprisingly easy to pick up some bad habits and waste money with unnecessary expenses. What might seem like small decisions add up over time to the point where you could suffer from some significant financial distress. Here are a few tips to help you avoid bad spending decisions and keep your finances in good order, allowing you to save money for worthwhile expenses and growth opportunities:

Don’t buy what you don’t need.

While it might be nice to regularly spend money on lunch for your employees or brand new tablets or gadgets for everyone in your office, are these expenses really necessary to help you run your business well? This is especially important to consider when you have a young startup or have just purchased your first franchise location. You should focus on keeping expenses to a minimum so you can turn a profit. It might be frustrating to be frugal in the early stages, but it will pay off later.

Be smart with necessary expenses.

You can’t avoid expenses entirely of course. You will need to pay for items like office supplies, internet, rent, electricity and more. However, do not be afraid to shop around and get the best prices you can find. There’s a good chance you’ll come across some excellent deals if you just do a little bit of research.

Finance equipment.

Purchasing appliances, furniture, vehicles and other equipment can be extremely expensive—far out of the price range if you were to pay for these costs up front. However, you do have the option to finance this equipment, which allows you to get what you need and pay back in increments over time. Make sure you’re getting the best terms for your loans!