How do you? Pay check to paycheck or......

Discussion in 'Business Operations' started by meets1, Oct 7, 2012.

  1. meets1

    meets1 LawnSite Gold Member
    Posts: 3,756

    Reading here tonight in a finance forum that majority of people between 25 - 50 live paycheck to paycheck.

    Just curious how you guys live?

    I know regions are different. Cost of living varies.

    I don't really as I would say I am small business owner with a nursery, retail outlet for that stuff, landscape, mowing, snow removal ect. I am looking at the months end total for sept. and did well for us but I have roughly $8000 in rock charges that we did for landscapes this past month. Thats alot of rock. Has everyone paid - nope. Will they I only assume!

    Curious how you guys live? Wife working? Tution payments for school? Care payments? House payments? Business loans?
     
  2. jrs.landscaping

    jrs.landscaping LawnSite Silver Member
    from Maine
    Posts: 2,715

    Payday Loans :cool2:
     
  3. McFarland_Lawn_Care

    McFarland_Lawn_Care LawnSite Bronze Member
    Posts: 1,379

    hahaha....just live below your means and you will come out ahead....our grandparents worked a lot harder and lived with a lot less. Save up....do what you have to do to save up some money. Dave Ramsey brother! =D
     
  4. cmturner

    cmturner LawnSite Member
    Posts: 34

    By listening to as much Dave Ramsey as possible! Keep that emergency fund up and debt down.
    Posted via Mobile Device
     
  5. meets1

    meets1 LawnSite Gold Member
    Posts: 3,756

    It just struck me that that many people live that way. I have a worker who has two kids, never married to the lady but lived with for 5 years. He owes $400 a month child support. $300 a month rent. Now being sued by his lawyer of all people to pay him for custody battle stuff and that bill is like $2500. I know what the guy is making is he id living paycheck to paycheck. Kinida feel for him but yet not really.

    This Dave Ramsey you talk off - I'll have to check him out.

    But I agree parents and especially grandparents worked harder. I want to think I work hard but working smarter, working with hydralics when possible make live easier, faster but also cost more money to use, own, rent etc.
     
  6. jrs.landscaping

    jrs.landscaping LawnSite Silver Member
    from Maine
    Posts: 2,715

    Give the guy credit, he might live paycheck to paycheck but at least he EARNED that money unlike some people......
     
  7. White Gardens

    White Gardens LawnSite Fanatic
    Posts: 6,776

    Dave Ramsey is the man.

    Almost debt free, and the only debt I plan on taking on is a house payment soon. Even then I've got a plan in place to pay it off as quick as possible.

    We luckily had a great year and was able to sock away more for the winter than I usually do. Hopefully the winter will be kind and I won't burn through it.

    Emergency fund, Savings account and living within your means is the only way to go. Cutting out all the extra BS we pay for has been huge also.

    Also being budget orientated each month is the only way to go.

    The funniest part of having more money this year actually doesn't feel like we have more money. Still highly focused and saving as much as I can as I look 30 years ahead to retirement.


    ......
     
  8. alldayrj

    alldayrj LawnSite Gold Member
    Posts: 3,750

    looked up ramsey on ibooks, which one do you recommend first?
     
  9. meets1

    meets1 LawnSite Gold Member
    Posts: 3,756

    No debt etc is fine and all but I am not sure what you guys do, what size of operation you run, etc. But as an example I am or have ordered all nusery stock already for next year. Some requires payment, not all in full but some. That is alot of money for us. New products to retail etc. I do take on debt. But it is turn key. Now maybe you are referring to debt as a boat payment, camper payment, etc. Not sure - those toys I do not have. I do have private tution to pay for as I have two boys in school so that is where my toy money goes - the betterment of my children at this point.
     
  10. White Gardens

    White Gardens LawnSite Fanatic
    Posts: 6,776

    Dave Ramsey's total money make-over.

    Then if you want to get into the business side, read Entre Leadership.

    And Meets,

    If you are doing that type of volume every year and have to pre-order, then there should be no reason you wouldn't have the reserve ahead of time in order not to have to borrow money for it.

    Not trying to bust your chops, but with the Dave Ramsey ideals, you would be extremely surprised at what you actually can achieve without borrowing money.

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