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Cash Flow or lack there of!

Discussion in 'Lawn Mowing' started by DixieFerris, Jun 4, 2010.

  1. DixieFerris

    DixieFerris LawnSite Senior Member
    Posts: 440

    Time to get on the phone all weekend! $9,000 in the bank, $132,000 outstanding, stressful!
     
  2. Phil G

    Phil G LawnSite Senior Member
    Posts: 843

    Woo, that's no good. How many customers and for how long the debt.

    There's only one place for that 132k and that's in your bank account.

    Why did it get out of hand? Credit control

    Good luck, Phil
     
  3. Cboy7

    Cboy7 LawnSite Senior Member
    from Fl
    Posts: 386

    please preach to the young uns and the one who havnt yet fallen into the big american lie. YOU CANT HAVE IT ALL !!!! until later.. Save first, pay later.

    I call it a 10 yr plan. you do with less and live little for 10 years and you will have enough to live without money worries the rest of your life.

    cmon guys, 10 yrs ago was not that long... trust me , time flies
     
  4. bradsd

    bradsd LawnSite Member
    Posts: 59

    Good advice CBoy, do this or you will be a slave to interest payments your entire life!
     
  5. biggziff

    biggziff LawnSite Member
    Posts: 96

    Truth spoken here!
     
  6. thomask

    thomask LawnSite Member
    from KS
    Posts: 35

    Anyone with debt payments needs to listen to Dave Ramsey. That is all I listen to when I mow. I carry 14-18 accounts yearly in addition to my full time teaching job. I started out with 2 21" mowers for the first 6 years I did this gig until my back started hurting. Then I saved up for a whole summer and bought off craigslist used 52" everride scorpion and a Quick 36 and a 5x10 trailer. Not the top of the line mowers I know, but hell, it gets the job done, a lot quicker I might add! Then with some leftover money I saved I bought the 34" everride scorpion. All my stuff is paid for and I wouldn't ever consider getting a loan for equipment. Again, if you have any debt that's strapping you down, get in a Financial Peace University class locally or read the Total Money Makeover.
     
    Last edited: Jun 4, 2010
  7. topsites

    topsites LawnSite Fanatic
    Posts: 21,654

    I don't have 9g in the bank...

    Did you know?
    Life is more expensive for those who can least afford it?
    Insurance companies tend to hike rates based on credit, also if you pay your
    insurance by making payments it costs more.
    Telephone, Electric, and Cable companies tend to want more in ways of
    "refundable" deposits also based on credit, this "refundable" deposit they keep
    however long, it is money you can't use.
    The list goes on...

    I learned the hard way, it eventually sunk in, like...
    10 years ago :laugh:

    There is nothing you can do except NOT get that way, and if you're in like that, gtfo!
    Ain't nobody going to help you but you.
    Just for example, I don't like servicing accounts where I know there exists a money problem.
    I don't charge extra, but I SHOULD!
    Instead, I leave and let them fend it out amongst themselves, so to speak.
    Cold, hard words.

    But it is a process, you make up your mind ONE time and stick to it, thick and thin, hell or high water.
    And it hurts a lot, but I find it hurts worse to be in debt.

    Now all my stuff's paid for.

    A budget helps.
    But ultimately you just have to make up your mind, one time and done.
     
    Last edited: Jun 4, 2010
  8. flatlander42

    flatlander42 LawnSite Silver Member
    Posts: 2,239

    I think he is OWED that large ammount of money.....He is not talking about having that much out for loans.....:waving:
     
  9. mbrew

    mbrew LawnSite Senior Member
    Posts: 491

    That ratio is not good!
     
  10. topsites

    topsites LawnSite Fanatic
    Posts: 21,654

    That's just as bad in my book, what's the difference, red is red.
     

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