Paying cash for everything sounds well and good. But personally, I leverage the hell out of every cent. I have more debt then I'm proud to admit to, but I haven't missed a payment so it must be working out. For example. Joe Lawn Care Guy brings in 3k a month mowing grass. Joe can bring in 6k a month if he buys a 60" zero turn to use on an account he was just offered. Joe waits to buy the mower, pays cash. Doesn't get the account obviously since he waited, then the transmission goes out in his truck and he can't fix it cuz he used his cash on his mower. Mark Lawn Care Owner financed a Walker Super B when he picked up the account Joe passed on. His transmission also went out. He paid cash to fix it, because he still had his cash in the bank, at the cost of .99 or 2.99 percent on the mower. Mark then buys out Joes business since Joe couldn't fix his truck. And since all storied have happy endings, Joe gets to mow the fancy uber high end office complex account, with a brand new 60 zero turn... Since he now works for Mark. Don't be Joe. Finance a mower, make money, pay it off.
Posted via Mobile Device