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  #11  
Old 07-28-2010, 02:08 PM
Gravel Rat Gravel Rat is offline
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Join Date: Jul 2002
Location: British Columbia
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Quote:
Originally Posted by bobcat_ron View Post
I just have a regular account, all my expenses come out and money goes in, my Dad had 5 lines of credit at 3 different banks and 14 credit cards, all to be where he is now, deep in debt and worth more dead than alive.

Keep your business simple.
Just think there goes your inheritance

There are quite a few people like your dad that are in the same situation so deep into debt there is no way out.
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  #12  
Old 07-28-2010, 03:17 PM
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nedly05 nedly05 is offline
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Join Date: Nov 2009
Location: Adk. Mtns. NY
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Quote:
Originally Posted by nepatsfan View Post
Are there people that don't?
Our accountant suggested not having one. This is the reason I asked on the forum, to learn how others operate. Isnt that what forums are all about?
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  #13  
Old 07-28-2010, 03:19 PM
nedly05's Avatar
nedly05 nedly05 is offline
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Join Date: Nov 2009
Location: Adk. Mtns. NY
Posts: 520
Quote:
Originally Posted by AI Inc View Post
Yes , any check I receive for less then $100 goes into it. Then I use it to pay company bills over the winter.
Quote:
Originally Posted by tbi View Post
I set aside 10% of every check I get which covers any sales tax collected and builds a slush fund.
Exactly the info I was after, thank you very much gentlemen!
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  #14  
Old 07-28-2010, 03:39 PM
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JB1 JB1 is offline
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Join Date: Feb 2000
Location: From the hills of beautiful Southern Indiana
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I use the mattress method.
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  #15  
Old 07-28-2010, 04:06 PM
Gravel Rat Gravel Rat is offline
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Location: British Columbia
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Quote:
Originally Posted by JB1 View Post
I use the mattress method.
Safer than having money in a bank
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  #16  
Old 07-28-2010, 04:52 PM
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Dirtman2007 Dirtman2007 is online now
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Join Date: May 2008
Location: Raleigh, NC
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Quote:
Originally Posted by Gravel Rat View Post
Safer than having money in a bank
Until the house burns down!
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  #17  
Old 07-28-2010, 04:54 PM
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AI Inc AI Inc is online now
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Join Date: Dec 2007
Location: Southern NH
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Cash goes in the safe, small checks go in that savings acount. Fiereproof safe that is.
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  #18  
Old 07-28-2010, 11:24 PM
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ioilyouin ioilyouin is offline
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Join Date: Oct 2009
Location: Illinois, no I do not live near Chicago
Posts: 707
We keep a checking account and a money market account open at all times. When I have surplusess of cash it goes into the money market until it is needed. Through the winter I project my expenditures and open a short term cd with the money I don't need.
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