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

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

  1. agent walker

    agent walker LawnSite Senior Member
    Posts: 453

    plus one on Dave Ramsey.. All my equipment is paid for and i'm totally debt free, which is great when you have just went through the worst drought in history.
     
  2. muddywater

    muddywater LawnSite Bronze Member
    Posts: 1,813

    I have saved 50% of my net for 10 years. 80-100 hour weeks for 10 years straight, i have busted my ass not to live paycheck to paycheck. Its paying off now. I also read dave ramsey and listen to his radio show when possible.
     
  3. 94gt331

    94gt331 LawnSite Bronze Member
    Male
    Posts: 1,693

    I am working hard to be debt free. Right now I have to work hard to pay the bills every week. I think the hardest thing to keep up with is the buisiness expenses while your waiting for your receivables. But I try to bank $20,000 each season for the winter to get through. My goal is to be debt free in 2 years and have over $100,000 grand in the bank.
     
  4. Patriot Services

    Patriot Services LawnSite Fanatic
    Posts: 12,678

    A page from my own life. Living within your means just doesn't jive with the instant gratification lifestyle most Americans feel entitled to.
    Posted via Mobile Device
     
  5. McFarland_Lawn_Care

    McFarland_Lawn_Care LawnSite Bronze Member
    Posts: 1,387

    I could not have said it any better myself - you hit the nail on the head!!
     
  6. muddywater

    muddywater LawnSite Bronze Member
    Posts: 1,813

    like dave ramsey says, "live like no one else, so you can live like no one else."

    We are doing a 150k job that I probably won't get paid for until a couple months from now. All my suppliers are already paid, gone through 6 weeks of payroll for my landscape crew with no cash flow, and I am not stressed. Because I have saved my money over the years, I have the capital to cover it. I even paid some of my subs in cash and saved/made a few thousand in pure profit. You can't get that deal net 60.
     
  7. larryinalabama

    larryinalabama LawnSite Fanatic
    Posts: 16,739

    Heck Im debt free and still bearly surviving lol
     
  8. Mowmoney2013

    Mowmoney2013 LawnSite Member
    Posts: 8

    Yah live paycheck to paycheck but getting there. Bought comm property when got cease and decist order from city for working out of home. Just had quit good job and used 401k pension fund to put 75 percent down rest on land contract 3 yrs ago. 8 more payments and done! Been rough tho, caused divorce w stress and didn't watch 15 yr old daughter enough and she got pregnant.

    Watch your kids guys, treasure your spouse! Making $20g in revenue/month and got hired back at my good paying job. Employees run business and I over see it. Not bad for a chick huh?

    Ps try advertising to increase revenue. I'm a marketing consultant at AT&T so if anyone needs info on that let me know.....no sales pitch included! We used display ads and got ALOT of calls so I know 1st hand!
     

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