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Fortnight Cash Flow with David Safeer

 

On this episode of Fortnight Cash Flow, David talks with DryRun's Jeremy Burke discussing simple cash flow optimization techniques that you can implement in your own business. 

 

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The Courage to Lead Episode 94 - Courage to Care About the People

Follow this link to listen to the episode on Apple Podcasts.

I had a great time on The Courage to Lead with Harlan Hammack discussing cash flow optimization (including some counterintuitive tactics), planning for the future, explanation of some of my offers here on the website, and more. 

I also got to share a bit more of my own story of how I came to be involved in cash flow advising. It was not an easy decision, but it was a logical one.

Coach Harlan was a great host - big thanks to him!

Follow this link to listen to the episode on Apple Podcasts.

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Unconventional Wisdom: Spend Your Cash Quickly

In my article “Some Bad Advice on Cash Flow Management” I mentioned that sometimes conventional wisdom isn’t very wise. In this article, I am going to bust the myth that you should always pay bills as slowly as possible and hold onto your cash until the last possible moment.

There are at least seven instances when you may want to spend your cash quickly:

  1. Early payment discounts
  2. Cash discounts
  3. Volume discounts
  4. Annual payment discounts
  5. Create solid vendor relationships
  6. Hire and retain hard to find employees
  7. Manage your debt

Early Payment Discounts

Some companies will give you the option of either paying in 30 days or paying more quickly, with a discount. The most common discount is 2% if you pay within 10 days, but if you don’t, then the full amount is due in 30 days. This is known as “2/10 net 30.”

Why this a good deal if you have the cash to pay early? It’s like earning 36% interest on your money! The vendor is basically saying...

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