Self Employed cash flow a problem.
Hi all.
I'm new here so hope I'm doing all this right.
I'm a self employed gardener and the winter has been pretty wet and unpleasant. My cash flow goes up and down throughout the year, so now, after a terrible winter, I'm playing catch up.
Because people pay me all over the place at funny times this also can make my cash flow bad. Whenever the business gets paid, the wife raids the business to pay the bills at home and the business then has trouble paying for itself.
I was thinking, should I get a credit card (I don't currently have one), to pay all the home bills over the month, this would give the business a fighting chance to earn and get invoices paid. Then I could pay staff, business bills and myself, and clear my personal credit card debt with my wages.
This feels like a sound plan, but there's something inside me saying no. Not sure what else to do.
We've already looked at our personal expenses, which are not extravagant...
I'm just not sure how to play this.
ANY help or advice would be MASSIVELY appreciated.
Kind regards to all.
I'm new here so hope I'm doing all this right.
I'm a self employed gardener and the winter has been pretty wet and unpleasant. My cash flow goes up and down throughout the year, so now, after a terrible winter, I'm playing catch up.
Because people pay me all over the place at funny times this also can make my cash flow bad. Whenever the business gets paid, the wife raids the business to pay the bills at home and the business then has trouble paying for itself.
I was thinking, should I get a credit card (I don't currently have one), to pay all the home bills over the month, this would give the business a fighting chance to earn and get invoices paid. Then I could pay staff, business bills and myself, and clear my personal credit card debt with my wages.
This feels like a sound plan, but there's something inside me saying no. Not sure what else to do.
We've already looked at our personal expenses, which are not extravagant...
I'm just not sure how to play this.
ANY help or advice would be MASSIVELY appreciated.
Kind regards to all.
0
Comments
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Hi Noble.
Not sure if you'll come back and see this or not, but I think you'll get a better response if you try posting on the small business board here: http://forums.moneysavingexpert.com/forumdisplay.php?f=27
Good luck.That sounds like a classic case of premature extrapolation.
House Bought July 2020 - 19 years 0 months remaining on term
Next Step: Bathroom renovation booked for January 2021
Goal: Keep the bigger picture in mind...0
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