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male
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anonymous
writes:I can't seem to keep up with my account and I keep overdrawing my funds. I'm not even spending a lot of money on things I want, it just keeps nickle and diming my account to death. Mostly it's money I spend to work with, but it takes up to 30 days to get paid back that money so in the meantime I'm screwed. Anyone got any advice on how to penny pinch when you are working on the road?
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reader, anonymous, writes (4 June 2009): This is verified as being by the original poster of the questionThanks everyone. Personally I think a more stable job is my best chance, but thats pretty tough to find right now.
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female
reader, anonymous, writes (4 June 2009): I would see if your bank has an overdraw protection plan. When I started out, I did it every once in awhile as well and the fees suck! Now I have my debit card connected to my credit card, so when I over withdraw it just charges to my credit. Saves me money and worry when my funds are low. Then when I get paid I can pay it off and know to be more careful that month. Just a suggestion.
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male
reader, NightLad  +, writes (4 June 2009):
 It sounds like you, like many people these days (you are far from alone!), need to re-evaluate your income level and then work out a corresponding budget that works for you. If you experience a fluctuation in your income consumption due to traveling and other unforeseen events, then you need to take that into account as best as possible. And remember; it /is/ possible.
A few tips;
- Don’t use cash stores (Money Mart, PayDay, etc.) which charge insane interest rates.
- Try living on Cash for a month after figuring out your budget. It’s okay if you need to juggle allotted funds in the first couple of weeks, but in time you will find the right balance.
- Cut down on eating out. It may be unavoidable while on the road, but there are alternatives to expensive restaurants and fast-food. Many supermarkets have Deli sections that serve freshly prepared meals for a fraction of the cost. Scoop out the alternatives.
- Research exactly what you can and cannot claim as a deduction from your business.
- If you have multiple credit cards with individual interest rates dragging you down every month, speak to a dept consolidation advisor and work your dept into one manageable payment at a lower rate. It could save you hundreds every year.
- Avoid using credit cards to make large purchases, or purchases that you cannot pay back within a reasonable amount of time. For purchases like that, get a low-interest loan from the bank – and don’t be afraid to shop around.
- Carry a hose to siphon gasoline. And a breath mint. Save the mint for after! (Okay that last one is a joke.)
Hope this helps!
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A
male
reader, Danielepew  +, writes (4 June 2009):
 You have the "small business owner disease", whose symptoms are late payment, early collection of debts, and customers who demand immediate service but then take forever to pay back. Some patients also need to buy and keep a stock of raw materials or inputs and pay in advance, though they get paid very late.
A complication of this disease is the "disgruntled customer syndrome", where a customer complains if you try to collect your money earlier than thirty days. The sure sign of this is "What? Why the desperation?" Disgruntled customers are also known to complain if you try to collect your money more than thirty days behind; this is evident in a phrase like "Why didn't you call me before?", followed by yet later payment.
I bet that, if you draw a graph of your earning, you will find that some months you get enough money, while other months you get next to nothing. The cash flow is not even, is it?
I am afraid that the crisis (sorry, the downturn) will only aggravate the problem.
The only way out is to become VERY tight for a few months, until you have a reserve of money that allows you to work this month to pay the bills you will have NEXT MONTH. Also, you will have to work the whole day and more to get the job done more quickly, and therefore be free to do more and hopefully collect more.
Only rarely will a customer agree to pay earlier if you tell them that you need the money. It's not that they don't understand the problem, but, much to the contrary, that they understand it very well, and therefore they want YOU to burn in hell.
Hope this helps.
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