# What to do with all this money?



## leigh (Jan 2, 2009)

For those that were blessed with a great snow year,what's the smartest and most business savy way to handle windfall. Many just piss it away on new equipment,toys etc. Some advice from the experienced for all the less experienced.Tip # 1- If your accountant tells you to buy a new truck,look for a new accountant. Max out your 401k,ira,college fund,etc. # 2 Fund rainy day account, do you have 6 months minimum operating funds for business and household?


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## Longae29 (Feb 15, 2008)

I apologize. The money generated this winter will be used to do less landscape work this summer and inch closer to being snow only (except for snow customers)


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## basher (Nov 13, 2004)

401K, IRA, real estate, private investment account, something that will produce future income.

Quick money gets it's name from how you spend it not how you make it

Money I don't expect, from wherever that windfall may come from I stick in an income producing source. If I never have it to budget against I never miss it.


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## kimber750 (Sep 19, 2011)

Plowing helps with the bigger expenses on my rental properties. This past summer had to replace 3 roofs, 1 furnace, 1 oil tank and one turn that cost close to $30k. And I will admit I do buy myself a toy. Thumbs Up


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## Buswell Forest (Jan 11, 2013)

Windfall = pay down debt. The lower the debt, the better the credit. Credit is everything.


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## Mr.Markus (Jan 7, 2010)

Buswell Forest;1781128 said:


> Windfall = pay down debt. The lower the debt, the better the credit. Credit is everything.


For the first time ever I agree with Buswell...
Paying off debt frees up future windfalls, interest is an has been low tempting people to spend it up. When interest rates rise (and they will) you will spend more trying to dig yourself out. Get out sooner than later.


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## grandview (Oct 9, 2005)

Buswell Forest;1781128 said:


> Windfall = pay down debt. The lower the debt, the better the credit. Credit is everything.


At least someone is listening to me.Thumbs Up

Try and explain that on lawnsite and they eat you up and spit you out.


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## SnowGuy73 (Apr 7, 2003)

Buswell Forest;1781128 said:


> Windfall = pay down debt. The lower the debt, the better the credit. Credit is everything.


^^^^ This ^^^^


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## grandview (Oct 9, 2005)

leigh;1781082 said:


> For those that were blessed with a great snow year,what's the smartest and most business savy way to handle windfall. Many just piss it away on new equipment,toys etc. Some advice from the experienced for all the less experienced.Tip # 1- If your accountant tells you to buy a new truck,look for a new accountant. Max out your 401k,ira,college fund,etc. # 2 Fund rainy day account, do you have 6 months minimum operating funds for business and household?





basher;1781093 said:


> 401K, IRA, real estate, private investment account, something that will produce future income.
> 
> Quick money gets it's name from how you spend it not how you make it
> 
> Money I don't expect, from wherever that windfall may come from I stick in an income producing source. If I never have it to budget against I never miss it.


I should add,you can't just take that money from the business and spend it. You need to get all those deductions first and figure out how to lower your tax bill first. Then you can invest it.


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## jrs.landscaping (Nov 18, 2012)

Buswell Forest;1781128 said:


> Windfall = pay down debt. The lower the debt, the better the credit. Credit is everything.


Agree 100%

Also agree with Grandview about lawnsite, don't even mention payments or debt........


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## basher (Nov 13, 2004)

Buswell Forest;1781128 said:


> Windfall = pay down debt. The lower the debt, the better the credit. Credit is everything.


IMO

Always a good idea but should be balanced against contributing to a retained corporate earnings account, your own retirement and future expenses.

Lowering floating rate/term debit vs fixed rate debit are two different animals.

While I'd agree paying down floating rate loans and credit lines is a great idea and loosens cash flow, unless you are paying them off paying down fixed term can different.

Timely repayment of your debit will give you good credit.

Why would you pay off existing loans just to get back in to debit without have any retained earnings?


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## grandview (Oct 9, 2005)

Oh no ,I'm smelling a LS thread coming on


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## 94gt331 (Oct 21, 2011)

grandview;1781180 said:


> Oh no ,I'm smelling a LS thread coming on


You spoke to soon you know, lolololThumbs Up


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## derekbroerse (Mar 6, 2004)

Pay off debts, credit cards, pay taxes etc.

Maybe extra payments on the house...

More equipment...

and if all else fails, strippers are always fun!!!


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## grandview (Oct 9, 2005)

derekbroerse;1781197 said:


> Pay off debts, credit cards, pay taxes etc.
> 
> Maybe extra payments on the house...
> 
> ...


strippers are always fun!!!

More equipment...

Maybe extra payments on the house...

Pay off debts, credit cards, pay taxes etc.

Fixed it.


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## Antlerart06 (Feb 28, 2011)

No debts here 
New equipment be my thinking for next winter or pay uncle sam


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## OldSchoolPSD (Oct 16, 2007)

Buy a better race car than the one I sold last year to buy equipment. Snow is my play money, steel pays the bills!


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## yardguy28 (Jan 23, 2012)

leigh;1781082 said:


> For those that were blessed with a great snow year,what's the smartest and most business savy way to handle windfall. Many just piss it away on new equipment,toys etc. Some advice from the experienced for all the less experienced.Tip # 1- If your accountant tells you to buy a new truck,look for a new accountant. Max out your 401k,ira,college fund,etc. # 2 Fund rainy day account, do you have 6 months minimum operating funds for business and household?


currently my business accounts hold enough money for a year of operating funds.

so with all this money I just might buy a new truck.

I don't have a college fund and what's a 401k and an ira???


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## grandview (Oct 9, 2005)

yardguy28;1781260 said:


> currently my business accounts hold enough money for a year of operating funds.
> 
> so with all this money I just might buy a new truck.
> 
> I don't have a college fund and what's a 401k and an ira???


The funds are for you to pay taxes with

IRA is your future..


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## OldSchoolPSD (Oct 16, 2007)

IRA is a great option to save because it can be tax deferred. If you ever want to retire, you want one.

I'll probably work until the day I die, but the wifey and I have enough sacked away that I could close the doors anytime I like.


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## Flawless440 (Dec 6, 2010)

Pay Taxs

Looking for a house in Florida, get away from the snow... Its a love hate relationship..


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## yardguy28 (Jan 23, 2012)

grandview;1781278 said:


> The funds are for you to pay taxes with
> 
> IRA is your future..


my future is my business.

that still doesn't tell me what a 401k or ira is.


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## OldSchoolPSD (Oct 16, 2007)

Google it. We could fill a dozen of these threads talking about different investment options.

Basically, they are retirement/investment plans. Talk to a financial advisor and get one set up so when you are too old and decrepit to run your business you have enough money put away to retire. Compound interest is the ****, so get started as young as you can.


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## djagusch (Oct 15, 2007)

Surprised nobody said to reinvest in the biz. 

While you have the extra income from the extra snow you also should have extra wear and tear on the equipment. Do the extra repairs/replacements due to the extra usuage first before spending elsewhere.


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## Flawless440 (Dec 6, 2010)

djagusch;1781354 said:


> Surprised nobody said to reinvest in the biz.
> 
> While you have the extra income from the extra snow you also should have extra wear and tear on the equipment. Do the extra repairs/replacements due to the extra usuage first before spending elsewhere.


Bought 4 new bulk spreaders, a new truck with plow during the winter..
Have a transfer case to rebuild on a Allison tranny, some other TLC, convert a stake bed to a dump stake..

Leave for vacation next week...


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## OldSchoolPSD (Oct 16, 2007)

I would hope that maintaining your equipment would go without saying... That's not really extra mine that should be figured into your operating cost


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## yardguy28 (Jan 23, 2012)

OldSchoolPSD;1781345 said:


> Google it. We could fill a dozen of these threads talking about different investment options.
> 
> Basically, they are retirement/investment plans. Talk to a financial advisor and get one set up so when you are too old and decrepit to run your business you have enough money put away to retire. Compound interest is the ****, so get started as young as you can.


retire? I have no intention of ever retiring. I'm gonna work till it kills me.


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## Italiano67 (Feb 16, 2005)

Then don't worry about what the other things are for. It sounds like you have everything figured out.


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## Mega cab (Aug 21, 2012)

Preparing for our landscaping customers to have smaller budgets do to all the money they spent on Snow Services. Fill my boats fuel tanks this year. And yes strippers are not cheap these days!


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## Whiffyspark (Dec 23, 2009)

Paid a lot of personal debt off. Pay for some landscaping advertising


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## grandview (Oct 9, 2005)

yardguy28;1781341 said:


> my future is my business.
> 
> that still doesn't tell me what a 401k or ira is.


A broken leg arm or hurt back and your future is gone.


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## Chineau (Aug 24, 2010)

yardguy28;1781379 said:


> retire? I have no intention of ever retiring. I'm gonna work till it kills me.


Are you in your fifties yet? Are you married raising a family? Do owen your home? What you intend and where you end up are often different things.


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## Buswell Forest (Jan 11, 2013)

basher;1781172 said:



> IMO
> 
> Always a good idea but should be balanced against contributing to a retained corporate earnings account, your own retirement and future expenses.
> 
> ...


My credit is fairly good, 750 range at the moment, and climbing.
But debt to income is what determines if you can access more credit.
Not going to live forever, and I want to grow my businesses as fast as possible. So, I would pay down debt. Then I would use the now available credit to expand with considered actions.
As for retirement, my businesses ARE my retirement. If I do not do well the next 25 years, my last years in this world will be meager.
Retained earnings? No such thing, except the iron and house I own. 
But judicious application of credit can and will change that.


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## Luther (Oct 31, 2007)

Other than one of you, no other poster mentioned rewarding or doing something nice on a personal level for your employees responsible for your good fortune.

Safe to assume y'all are one man operations and you did it all on your own?


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## basher (Nov 13, 2004)

TCLA;1781552 said:


> Not one poster mentioned rewarding or doing something nice on a personal level for your employees responsible for your good fortune.


401K, IRA contributions :whistling:

Gifts you can give that are tax deductible


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## Luther (Oct 31, 2007)

basher;1781553 said:


> 401K, IRA contributions :whistling:
> 
> Gifts you can give that are tax deductible


You absolutely rock doing something long term for those who contribute to your success. 

:salute:


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## Mega cab (Aug 21, 2012)

We pay are employees good already. They have made extra large amounts of money compared to past winters. We pay them overtime and extra for when its sub zero and weekend holiday pay. Buy them breakfast and meals, provide clothes and gloves. Some of them who have take home trucks use our fuel to drive to work. Some of our walk crews members get picked up by another employee already getting paid by us. Probably some things I missed.
But the point we have paid them well for years its our turn to have some extra $$$$! Yes if you haven't paid employees good in the past then YES give them something extra!!


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## nighthawk117 (Nov 29, 2008)

leigh;1781082 said:


> For those that were blessed with a great snow year,what's the smartest and most business savy way to handle windfall. Many just piss it away on new equipment,toys etc. Some advice from the experienced for all the less experienced.Tip # 1- If your accountant tells you to buy a new truck,look for a new accountant. Max out your 401k,ira,college fund,etc. # 2 Fund rainy day account, do you have 6 months minimum operating funds for business and household?


Just FYI, windfall is receiving gifted, unearned monies ! Doing snow removal as business is not a windfall in my opinion.


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## leigh (Jan 2, 2009)

nighthawk117;1781678 said:


> Just FYI, windfall is receiving gifted, unearned monies ! Doing snow removal as business is not a windfall in my opinion.


windfall (ˈwɪndˌfɔːl) 
n
1. (Banking & Finance) a piece of unexpected good fortune, esp financial gain
In my case it was unexpected,in the sense that the winter was so busy that when I finished Feb billing and hit the accounts receivable report in quickbooks I just about fell over! But I see your point! I'll rephrase- no windfall, instead -big bucks for hard work!


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## SnoFarmer (Oct 15, 2004)

What do you want to do with it?

a 401k or a ira can still be a gamble.
Meany lost a lot in 08 and have yet to get it back.

You earned a dollar when it was worth (example) 75cents, now figure in inflation over 40+ years that dollar is now worth 40-50 cents.
You better be getting more than 2%- 3% interest...

I invested in things like, land & metals,,
That gold and silver, bought back in 84 is still doing rather well and land bought in the right area is like money in the bank.

Everyone has different responsibility's and goals.

Are you going to be healthy enough to enjoy the money when your 70yrs old?

A lot of what if's and options.

As far as having enough for a nursing home.
 What do I care what color of institutional green the walls are when I'm drooling down my chin and in a wheel chair.


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## gtmustang00 (Feb 23, 2010)

Was always taught credit is for people who don't have money and can't afford what they want.


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## nighthawk117 (Nov 29, 2008)

leigh;1781686 said:


> windfall (ˈwɪndˌfɔːl)
> n
> 1. (Banking & Finance) a piece of unexpected good fortune, esp financial gain
> In my case it was unexpected,in the sense that the winter was so busy that when I finished Feb billing and hit the accounts receivable report in quickbooks I just about fell over! But I see your point! I'll rephrase- no windfall, instead -big bucks for hard work!


Ooo yes, now your talking !!  payup is the name of the game now.


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## nighthawk117 (Nov 29, 2008)

gtmustang00;1781728 said:


> Was always taught credit is for people who don't have money and can't afford what they want.


Legendary education, unfortunately many people can't do without it as their wants will always exceed their needs as they are blinded by the lack of common sense. My kids are taught to work for your needs and save for their wants ! Economics are not taught to these kids at school as it should be. Credit is abused so often that it's sickening, just look at this country's deficit, far to much waste.


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## derekbroerse (Mar 6, 2004)

I thought the IRA was an 80's terrorist group?


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## grandview (Oct 9, 2005)

derekbroerse;1781758 said:


> I thought the IRA was an 80's terrorist group?


They are,they originally came from Canada.


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## grandview (Oct 9, 2005)

Serious though.if your going to invest ,do it as an automatic withdrawal from your account you won't miss it then.


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## derekbroerse (Mar 6, 2004)

grandview;1781762 said:


> They are,they originally came from Canada.


Hmmm, I thought the 'I' part was Irish, wouldn't that make them originally come from Ireland? lol I really don't remember, I was just a kid in the 80's, and watching Transformers and GI Joe was a lot more important than watching the (depressing) news!!!



grandview;1781763 said:


> Serious though.if your going to invest ,do it as an automatic withdrawal from your account you won't miss it then.


This is what I do. Around $100 a month is automatically taken from my account and put in a tax-free RRSP account, from there it builds and goes into term deposits at higher interest. Not much there yet, really, but it adds up over time and you really can't touch it. Though "higher interest" = pathetic, really....


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## Flawless440 (Dec 6, 2010)

gtmustang00;1781728 said:


> Was always taught credit is for people who don't have money and can't afford what they want.


That's me.. living the American dream. ..
Look great on paper


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## Diesel Dan (Sep 8, 2012)

GO TO THE BAR


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## grandview (Oct 9, 2005)

Diesel Dan;1781840 said:


> GO TO THE BAR


Good future to be a lawyer.


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## LawnGuy110 (Feb 15, 2010)

My dad helped me start my retirement fund last year. I'm 19 now and the majority of this snow money is going into that account...I gotta have SOME money to play with right?


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## SNOMACHINE (Dec 2, 2009)

Our buisness is a good part of the retirement! Keep investing in your business & you will be rewarded! 
That's the best way to keep it from the blood sucking DC bunch! We've just purchased 2 new 5500 rams with SS dump body's, Vee plows, SS spreaders, & pre-wet systems. And gonna upgrade 1 wheel loader.


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## edgeair (Sep 26, 2010)

SNOMACHINE;1781904 said:


> Our buisness is a good part of the retirement! Keep investing in your business & you will be rewarded!
> That's the best way to keep it from the blood sucking DC bunch! We've just purchased 2 new 5500 rams with SS dump body's, Vee plows, SS spreaders, & pre-wet systems. And gonna upgrade 1 wheel loader.


That's always been my line of thinking. If you are in business, your best investment is always going to be your business (if done wisely). Far better return that way than savings accounts and most of the time stocks. You save on the tax man right off the bat, and start making money on your investment right away also. You are in direct control of your investment as well.

A balanced portfolio of course is logical, but most often your business investments pay back the most.

Of course, if you are already invested in your business and you don't see expanding or upgrading, debt payoff seems to be the next most sensible alternative.


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## LawnGuy110 (Feb 15, 2010)

For snow, I work for another company, mainly because around here in Northern Virginia we rarely get much snow during the winter. This year, obviously, was much different.


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## JTVLandscaping (Jan 1, 2010)

Just putting it away until I need it. I'll limp this old truck through the rest of the winter, I'll buy the replacement truck on loan, which has already been approved. This is in an effort to build my credit back up after some past mistakes. I have a regular job so retirement is taken care of.


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## grandview (Oct 9, 2005)

JTVLandscaping;1781990 said:


> Just putting it away until I need it. I'll limp this old truck through the rest of the winter, I'll buy the replacement truck on loan, which has already been approved. This is in an effort to build my credit back up after some past mistakes. I have a regular job so retirement is taken care of.


You could ask Brno for some money.


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## JTVLandscaping (Jan 1, 2010)

His lending days are over


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## grandview (Oct 9, 2005)

JTVLandscaping;1781997 said:


> His lending days are over


Well he did pave the roads with gold there. Just grab a few bricks.


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## basher (Nov 13, 2004)

Classic Cuts Lawn Service;1781892 said:


> My dad helped me start my retirement fund last year. I'm 19 now and the majority of this snow money is going into that account...I gotta have SOME money to play with right?


Sure do, Balance the income between debt, savings, investment and toys is the best plan.


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## Buswell Forest (Jan 11, 2013)

gtmustang00;1781728 said:


> Was always taught credit is for people who don't have money and can't afford what they want.


Brilliant.
Want a house? Just save your pennies.


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## edgeair (Sep 26, 2010)

Buswell Forest;1782110 said:


> Brilliant.
> Want a house? Just save your pennies.


Absolutely. I think the take away most people don't learn from being taught that lesson he referred to is that there is good credit and bad credit. Good credit is when you use that loan etc to make you money or buy a house to live in. Nothing wrong with good credit if it increases your bottom line. I watch guys around here struggle keeping their hunks of junk on the road, but you know, "they are paid for". They never get ahead because they keep dumping their money into junk to keep it running. Instead why not make payments and have a truck (equipment etc) worth something at the end of 4 or 5 years? I don't make any payments now on my trucks, and they are worth something and don't cost me an arm and a leg to run. They are also reliable which matters in a storm.


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## 1olddogtwo (Aug 6, 2007)

Old Boss once told me you aren't successful until you owe everybody you know!!!!


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## WIPensFan (Jan 31, 2009)

TCLA;1781552 said:


> Other than one of you, no other poster mentioned rewarding or doing something nice on a personal level for your employees responsible for your good fortune.
> 
> Safe to assume y'all are one man operations and you did it all on your own?


Good catch.


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## yardguy28 (Jan 23, 2012)

gtmustang00;1781728 said:


> Was always taught credit is for people who don't have money and can't afford what they want.


unfortunately ALOT of people have been taught that.

there are PLENTY of people who use there credit cards for everyday purchases and pay those credit cards off each and every month. I sir am one of those people. I use my credit cards for just about everything and at the end of each and every month I pay off the balance completely.


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## Buswell Forest (Jan 11, 2013)

Unless your name is Hilton, Soros, Marriott, Dupont, Rockefeller, Kennedy, Kerry, or some like name...credit is everything. Not many men can save up $35,000 for a new plow truck, let alone $600,000 for a nice USED timber harvesting set up. My credit and my work ethic are my only way to a secure financial future. The only reason I am here at the moment is I am waiting on parts for my Skidder. Did pay cash for those.


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## Whiffyspark (Dec 23, 2009)

edgeair;1782113 said:


> Absolutely. I think the take away most people don't learn from being taught that lesson he referred to is that there is good credit and bad credit. Good credit is when you use that loan etc to make you money or buy a house to live in. Nothing wrong with good credit if it increases your bottom line. I watch guys around here struggle keeping their hunks of junk on the road, but you know, "they are paid for". They never get ahead because they keep dumping their money into junk to keep it running. Instead why not make payments and have a truck (equipment etc) worth something at the end of 4 or 5 years? I don't make any payments now on my trucks, and they are worth something and don't cost me an arm and a leg to run. They are also reliable which matters in a storm.


That's EVERYONE over on lawnsite.

You're an absolute idiot to spend more Han $5k on a truck. But it's perfectly acceptable to pay $13k for a mower.

Debt is the absolute devil over there. They are arguing a $150 lawn mower payment could sink you're business


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## Flawless440 (Dec 6, 2010)

I sale my exmark mowers soon as warranty is up... tons mower payments. .
Alot of my cuts are $1000 or more each..
Cant have mowers down, when they do need fixed dealer gives me a loaner...


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## gtmustang00 (Feb 23, 2010)

Buswell Forest;1782110 said:


> Brilliant.
> Want a house? Just save your pennies.


Either have the money in the back account to cover it, or your girlfriend will buy it 

I took a loan out once. After it was paid for I realized I just threw away X amount of money vs paying cash for it (Interest). Now that was a waste of money.


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## Antlerart06 (Feb 28, 2011)

edgeair;1782113 said:


> Absolutely. I think the take away most people don't learn from being taught that lesson he referred to is that there is good credit and bad credit. Good credit is when you use that loan etc to make you money or buy a house to live in. Nothing wrong with good credit if it increases your bottom line. I watch guys around here struggle keeping their hunks of junk on the road, but you know, "they are paid for". They never get ahead because they keep dumping their money into junk to keep it running. Instead why not make payments and have a truck (equipment etc) worth something at the end of 4 or 5 years? I don't make any payments now on my trucks, and they are worth something and don't cost me an arm and a leg to run. They are also reliable which matters in a storm.


Why get a loan in the end you paying more for it plus higher rate of insurance 
I rather buy something used and pay cash for it on a truck 
Last one was 99 F350 bought in 09 paid 5400 only thing done to it was coil packs
My self I don't see paying 30k + just to plow snow with and pull a trailer around Fars my working equipment I'll buy it new never on a loan either


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## jrs.landscaping (Nov 18, 2012)

And the credit no credit debate begins...........


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## Italiano67 (Feb 16, 2005)

Everybody has a different approach. It will never change. Do what you are comfortable with and let it be.


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## edgeair (Sep 26, 2010)

Antlerart06;1782211 said:


> Why get a loan in the end you paying more for it plus higher rate of insurance
> I rather buy something used and pay cash for it on a truck
> Last one was 99 F350 bought in 09 paid 5400 only thing done to it was coil packs
> My self I don't see paying 30k + just to plow snow with and pull a trailer around Fars my working equipment I'll buy it new never on a loan either


Well I can't hope to educate you on all the reasons why it would be beneficial to do so but suffice it to say you are one of the lucky ones buying a 10 year old truck and not having to do much to make it work worthy. Better go buy a lottery ticket today!

Low or no interest loans are easily available nowadays that make your point a moot one though. Cash flow and budgeting are other reasons.

Ironically when I started my business about 10 years ago I thought like you. Well I tried that for a few years until I got business credit. I can honestly say its nice now not working from one job check to another and having some floater cash in the bank. Old stuff has a tendency to nickle and dime you to death. I also enjoy not having to fix as much stuff in the middle of a storm. If something breaks down I pick up the phone, not a wrench, and a loaner is right there to help me finish out the job. Sometimes that is priceless.

I might add that where possible and sensible I will use cash, but for a couple of my major capital purchases credit makes good sense. Without doing that, I wouldnt be able to acquire equipment that increaeses my bottom line, which is what I consider good use of credit.


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## Chineau (Aug 24, 2010)

It has taken me along time and many thousand dollar to learn lessons about credit and it's use, I volunteer for 
a program called Junior Achievement teaching young people about some of this stuff you should see the eyes light up when I get them thinking about the true cost of an I pad financed for 60 months or some ridiculous period of time. I haven't got it all figured out yet but it appear to me the system recognizes there are a certain amount of stupid people. Best advice " Don't be stupid."


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## nighthawk117 (Nov 29, 2008)

Italiano67;1782263 said:


> Everybody has a different approach. It will never change. Do what you are comfortable with and let it be.


Bingo, well said.


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## Antlerart06 (Feb 28, 2011)

edgeair;1782266 said:


> Well I can't hope to educate you on all the reasons why it would be beneficial to do so but suffice it to say you are one of the lucky ones buying a 10 year old truck and not having to do much to make it work worthy. Better go buy a lottery ticket today! Don't play
> 
> Low or no interest loans are easily available nowadays that make your point a moot one though. Cash flow and budgeting are other reasons.
> 
> ...


I buy trucks that isn't or wasn't a work truck never buy a older snow plow truck .
I have back up trucks and back up tractors 
You worried about old stuff breaking I'm glad the credit cards are not calling 
What is priceless is all profit is mine Im not making a loaner his wage
What is priceless is paying 10k forsomething not 13k thru a loan

but if getting a loan is your thing that's kool its not my thing


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## edgeair (Sep 26, 2010)

Antlerart06;1782285 said:


> I buy trucks that isn't or wasn't a work truck never buy a older snow plow truck .
> I have back up trucks and back up tractors
> You worried about old stuff breaking I'm glad the credit cards are not calling
> What is priceless is all profit is mine Im not making a loaner his wage
> ...


I don't play either.

Not sure what you mean by a lot of what you are saying, if I have good reliable stuff, I don't need several spares sitting around taking up space and costing money for extra insurance, depreciation etc. I also don't need to pay my credit card anything because it's not being used for repairs, and fuel purchases make me 4% cash back when I use the card, so I just pay it off each month and get a big cash back credit once a year that I wouldn't get if I were a cash guy.

What you are missing is yes you might pay 3k more for that thing, but if it's on warranty and you have something blow, it just cost you a whole lot more money. Any loan I have is under 2% interest, most are 0%. Don't see your point. My money is better in the bank than paying cash for those items. Any piece of equipment I have bought with credit pays it's own way. If I didn't use credit I wouldn't be able to acquire those items and consequently they wouldn't be able to make me money. Therefore I am able to make more money when they pay their way for 4 or 5 years and at the end they are still worth 60-80% of what I paid including interest. So why wouldn't you do it? Even if they broke even during the loan, you still made that 60+% by the end. This of course assumes you don't have the cash to buy it outright. Although why do that if you can make more than the 0-2% by holding onto the money.


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## kimber750 (Sep 19, 2011)

Really don't want to be part of the credit debate but IMO some need it for their business some don't. But remember that gas card is credit, an account at a supplier is credit. Me, I need credit for my rental business. By no means did I have the cash to purchase a bunch of rental properties. Right now I am selling off the less profitable ones that I purchased in the beginning for more profitable properties. Do I have the cash to cover the difference yes, but I need to keep enough cash on hand to cover all my expenses if some tenants move out or stop paying. My business is my retirement, once it is time to retire I will sell everything off and move to the farm in Oklahoma.


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## edgeair (Sep 26, 2010)

kimber750;1782306 said:


> Really don't want to be part of the credit debate but IMO some need it for their business some don't. But remember that gas card is credit, an account at a supplier is credit. Me, I need credit for my rental business. By no means did I have the cash to purchase a bunch of rental properties. Right now I am selling off the less profitable ones that I purchased in the beginning for more profitable properties. Do I have the cash to cover the difference yes, but I need to keep enough cash on hand to cover all my expenses if some tenants move out or stop paying. My business is my retirement, once it is time to retire I will sell everything off and move to the farm in Oklahoma.


It's pretty hard to avoid credit in this day and age and run a business, try renting equipment or a truck without a credit card or account (credit).

It does depend on what you are trying to accomplish in your business, your example is a good one of investing in your business using "good credit" to multiply what you could do otherwise without credit.


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## Chineau (Aug 24, 2010)

It is fair to say some folks will never grasp leveraging,force multipliers and Van hoots law just hope they are your competition.


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## OldSchoolPSD (Oct 16, 2007)

You know who uses credit? ME.

You know who works all cash? The mexicans that snake out the ******** at my investment properties.

Wonder who's net worth is higher?


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## nighthawk117 (Nov 29, 2008)

OldSchoolPSD;1782339 said:


> You know who uses credit? ME.
> 
> You know who works all cash? The mexicans that snake out the ******** at my investment properties.
> 
> Wonder who's net worth is higher?


I would say the individuals that work on the toilets . They pay no taxes on that income, they are on some sort of assistance, low income housing, free healthcare, ebt cards and free cell phones! Plus they have no credit card debt. You think you have it made ? :laughing:


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## Buswell Forest (Jan 11, 2013)

Chineau;1782335 said:


> It is fair to say some folks will never grasp leveraging,force multipliers and Van hoots law just hope they are your competition.


What is van hoots law? Never heard of such a thing?


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## Plowtoy (Dec 15, 2001)

Those who say CREDIT is the only way has NEVER hit rock bottom. I used to think like them, had to have a new truck, had to have new equipment, had to have new jet skis yada, yada, yada. NO MORE!!! Other than the house, we have no payments and have cash in the bank for an emergency. Not to mention funding 401ks and IRAs. Yep, I don't have a brand new truck, plow, whatever, but I don't have any worries either if it doesn't snow or rain.

And for those who say you cant buy a home for cash, I have seen it done by friends of mine. They had a mortgage on thier first home of $120k, paid it off in 9 years, sold it to me in 09 for $100k, took the money bought the next one (a forclosure) for $88K, cleaned it up and did some remodeling (paid cash) and sold it after 4 years for a $188k and just moved into a $380k home which is completely paid for with the proceeds and savings from not having a house payment in over 4 years. Combined I bet they make about $100k a year, but they BUDGET and have goals for everything and don't spend money needlessly.


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## edgeair (Sep 26, 2010)

Plowtoy;1782432 said:


> Those who say CREDIT is the only way has NEVER hit rock bottom. I used to think like them, had to have a new truck, had to have new equipment, had to have new jet skis yada, yada, yada. NO MORE!!! Other than the house, we have no payments and have cash in the bank for an emergency. Not to mention funding 401ks and IRAs. Yep, I don't have a brand new truck, plow, whatever, but I don't have any worries either if it doesn't snow or rain.
> 
> And for those who say you cant buy a home for cash, I have seen it done by friends of mine. They had a mortgage on thier first home of $120k, paid it off in 9 years, sold it to me in 09 for $100k, took the money bought the next one (a forclosure) for $88K, cleaned it up and did some remodeling (paid cash) and sold it after 4 years for a $188k and just moved into a $380k home which is completely paid for with the proceeds and savings from not having a house payment in over 4 years. Combined I bet they make about $100k a year, but they BUDGET and have goals for everything and don't spend money needlessly.


And they used a mortgage to get there on the first one...

If they did not do that, they would still be making those payments to a landlord. Once again, a difference between "good credit" and "bad credit".

If you financed everything previous (ie. You mentioned jet skis), then yes that doesn't make sense and it sounds like you learned from that. The original topic asked what you would do if you have a windfall from this years snow business, and the idea of using credit to amplify your ability to grow or invest in your business is what we are talking about here.


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## OldSchoolPSD (Oct 16, 2007)

Using credit and burying yourself in debt are two different things. For the guys that think you can build a successful business without using credit, that's probably the best choice for them to keep them out of trouble. 

For those of us who understand how it works, credit can be the most useful tool we have.


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## grandview (Oct 9, 2005)

gtmustang00;1782205 said:


> Either have the money in the back account to cover it, or your girlfriend will buy it
> 
> I took a loan out once. After it was paid for I realized I just threw away X amount of money vs paying cash for it (Interest). Now that was a waste of money.


What did you buy? If lets say your going to buy a big tix idem and you save to buy it. how long did it take you to save for it? What was the original price of it when you decided to buy vs what the price is when you could afford it.Would you been better off taking the loan and paying some interest as oppose to the price increase.which way would of been less?


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## OldSchoolPSD (Oct 16, 2007)

I look at it this way... I make 7-8% on my investments. If I can finance something at 4% then why would I take money that's making 8% to go buy it. 

Then on top of that, the current rate of inflation is 1.6% so if you just put your money in a checking account or bury it in the yard, you are losing 1.6% anyways. Saving and investing money is a smart idea, but hoarding cash is just a good way to go broke slowly. My money works for me, not the other way around.


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## Plowtoy (Dec 15, 2001)

edgeair;1782440 said:


> And they used a mortgage to get there on the first one...
> 
> If they did not do that, they would still be making those payments to a landlord. Once again, a difference between "good credit" and "bad credit".
> 
> If you financed everything previous (ie. You mentioned jet skis), then yes that doesn't make sense and it sounds like you learned from that. The original topic asked what you would do if you have a windfall from this years snow business, and the idea of using credit to amplify your ability to grow or invest in your business is what we are talking about here.


IMO, theres no such thing as good credit. If you play with snakes, at some point you will get bit and probibly die, or at least wish you were dead if not. Trust me, avoiding going home because you knew when the phone rings its just another creditor wanting payment is no way to live. You can do everything "right" with credit cards, but just one simple mistake can cause YOU a bunch of headaches, EVEN if it was THIER fault... BEEN THERE, DONE THAT. As far as renting equipment, trucks ect...ect..ect, I can and have rented with out any problems with my debit card may times.
As far as the windfall from this season, going to do some investing, setting some money aside for a newer plow truck (although thats still a couple years away, the Tahoe and Superduty still have lots of life left in them) and several vacations planned, including an Alaskan Cruise for 2015:waving:


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## grandview (Oct 9, 2005)

Plowtoy;1782487 said:


> IMO, theres no such thing as good credit. If you play with snakes, at some point you will get bit and probibly die, or at least wish you were dead if not. Trust me, avoiding going home because you knew when the phone rings its just another creditor wanting payment is no way to live. You can do everything "right" with credit cards, but just one simple mistake can case YOU a bunch of headaches, EVEN if it was THIER fault... BEEN THERE, DONE THAT. As far as renting equipment, trucks ect...ect..ect, I can and have rented with out any problems with my debit card may times.
> As far as the windfall from this season, going to do some investing, *setting some money aside for a newer plow truck (although thats still a couple years away, the Tahoe and Superduty still have lots of life left in them)* and several vacations planned, including an Alaskan Cruise for 2015:waving:


See post #86


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## WIPensFan (Jan 31, 2009)

Can we get back to what people will do with their money rather than the credit debate. I was enjoying this thread until it went off the rails.


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## Plowtoy (Dec 15, 2001)

grandview;1782493 said:


> See post #86


Considering I don't buy vehicles much newer than 6-8 years old, I don't think it makes any differance. Most of the time, when I make a vehicle purchase, it needs some major repair. As an ASE mechanic, I buy them for much less than market value, replace or repair what is wrong with them and drive for 4-5 years. I used to lease new trucks, beat the tar out of them and then turn them in, thinking I was ahead. It was pretty simple math on the last one I leased. I was just starting to get into this whole debt free thing and thought I would buy my OBS Sierra 3500 work truck. Sticker was a little over 26K when I leased it new. Had it for four years at $400 a month or 19K at the end. To purchase that truck would have been another 4 years right around the same payment. So would have almost paid double sticker price for that truck. It ticked me off. I turned it in and bought a 94 Suburban with 230k on the clock for cash and never looked back. I owned it for a month when I found my first super duty. Sold the burb and bought it with the cash from the burb. Plowed the hodge podge super duty (was titled as a 94 half ton, but had 96 3/4 ton drivetrain, someone switched out the cab) for 5 years and sold it for the same price I paid. Bought the super duty we have now for $8800 5 years ago with 205k on the clock and havent done anything but a tugger kit in the trans and a box side and cab corner (although the other side needs done now, but its got 235 on it). The Tahoe is my "daily driver" and just rolled 216k I bought it a little over a year ago for $4800 after being T-boned in my Yukon a year ago Nov 15.


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## Plowtoy (Dec 15, 2001)

WIPensFan;1782518 said:


> Can we get back to what people will do with their money rather than the credit debate. I was enjoying this thread until it went off the rails.


Sorry, I had to chime in... I'll back off now


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## Tj4CX (Feb 24, 2014)

Remember, There's no greater power in the world than compound intrest.


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## yardguy28 (Jan 23, 2012)

Buswell Forest;1782186 said:


> Unless your name is Hilton, Soros, Marriott, Dupont, Rockefeller, Kennedy, Kerry, or some like name...credit is everything. Not many men can save up $35,000 for a new plow truck, let alone $600,000 for a nice USED timber harvesting set up. My credit and my work ethic are my only way to a secure financial future. The only reason I am here at the moment is I am waiting on parts for my Skidder. Did pay cash for those.


$35,000 for a plow truck. what's so hard about that? I'm on vehicle number 5 and I'm only 32. I've paid cash for every one of those vehicles. never owed anyone a cent. all my lawn and snow equipment is paid for with cash up front as well.

my secret? I don't spend money on ANYTHING I don't absolutely need. all my "wants" in life like an ipad or a big screen tv or whatever have been gifts from family on birthdays or xmas. if I don't get it there, I don't get it.


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## grandview (Oct 9, 2005)

yardguy28;1782542 said:


> $35,000 for a plow truck. what's so hard about that? I'm on vehicle number 5 and I'm only 32. I've paid cash for every one of those vehicles. never owed anyone a cent. all my lawn and snow equipment is paid for with cash up front as well.
> 
> my secret? I don't spend money on ANYTHING I don't absolutely need. all my "wants" in life like an ipad or a big screen tv or whatever have been gifts from family on birthdays or xmas. if I don't get it there, I don't get it.


Wait till your wife and kids suck the life out of you.


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## yardguy28 (Jan 23, 2012)

what wife and kids? I HATE kids and have no plans for a wife in my future. I've been single for well over 10 years now.


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## Longae29 (Feb 15, 2008)

WIPensFan;1782518 said:


> Can we get back to what people will do with their money rather than the credit debate. I was enjoying this thread until it went off the rails.


Went to potowotami casino today. Spent a solid 8 hours playing table games paigow poker, 3card poker and finally got down to business and played blackjack. Recruited a dealer to be a driver next winter, left up $700. Productive day.


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## Tj4CX (Feb 24, 2014)

I made travel arrangements in November for a trip to Aruba in May. Plowing for 20 hrs straight and being on call for 5 months is a lot easier anticipating the trip. I'm taking pictures of our snow season, and I'm going to look back at them while sipping Coronas on the beach. Can't wait!


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## WIPensFan (Jan 31, 2009)

grandview;1782544 said:


> Wait till your wife and kids suck the life out of you.


:laughing:



yardguy28;1782546 said:


> what wife and kids? I HATE kids and have no plans for a wife in my future. I've been single for well over 10 years now.


:laughing:



Longae29;1782551 said:


> Went to potowotami casino today. Spent a solid 8 hours playing table games paigow poker, 3card poker and finally got down to business and played blackjack. Recruited a dealer to be a driver next winter, left up $700. Productive day.





Tj4CX;1782559 said:


> I made travel arrangements in November for a trip to Aruba in May. Plowing for 20 hrs straight and being on call for 5 months is a lot easier anticipating the trip. I'm taking pictures of our snow season, and I'm going to look back at them while sipping Coronas on the beach. Can't wait!


Longae29 and Tj4CX...great stuff guys! That's why you go work hard, so you can enjoy some things in life. Fun is important too.Thumbs Up


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## Kevin_NJ (Jul 24, 2003)

WIPensFan;1782518 said:


> Can we get back to what people will do with their money rather than the credit debate. I was enjoying this thread until it went off the rails.


Going towards standby generator for the house so I don't have to worry about wife fighting the portable generator while I'm out plowing.


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## gtmustang00 (Feb 23, 2010)

yardguy28;1782546 said:


> what wife and kids? I HATE kids and have no plans for a wife in my future. I've been single for well over 10 years now.


You and I? Same person, please tell me you have a flip phone like me! I do have girlfriends though they don't cost me much if anything at all. You know if you buy them a x-mas present, you have to every year. But if you don't, they never expect anything!


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## 94gt331 (Oct 21, 2011)

This year has been a good year for me in the snow buisiness. I made better money than the last 2 years together. I'm not rolling in it by any means, the money goes out fast with keeping the regular bills paid. But the xtra money has helped me maintain my savings account all winter instead of using it all up like past winters. I had a couple extra bucks and bought alittle bit of extra equiptment( small stuff) and I also invested alittle bit of money into another small buisness venture for next year and we just started building a small addition onto our shop today funded by snow money. However I got another billing to go out which the money will be spoken on bills and after that hopefully we are workin landscapes again in 2 weeks and thats where the money makin starts for me.


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## kimber750 (Sep 19, 2011)

I bought this.


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## yardguy28 (Jan 23, 2012)

gtmustang00;1782635 said:


> You and I? Same person, please tell me you have a flip phone like me! I do have girlfriends though they don't cost me much if anything at all. You know if you buy them a x-mas present, you have to every year. But if you don't, they never expect anything!


sorry, no flip phone. I have an iphone 5s.

no girlfriends either. in my opinion women aren't worth the trouble or money.


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## yardguy28 (Jan 23, 2012)

kimber750;1782789 said:


> I bought this.


nice but now it'll never snow again......:laughing:


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## kimber750 (Sep 19, 2011)

yardguy28;1782795 said:


> nice but now it'll never snow again......:laughing:


Actually got it for my rentals and farm. Haven't figured out how to drive my truck and the skiddy at the same time yet since I am no good at letting others play with my toys.


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## BC Handyman (Dec 15, 2010)

kimber750;1782815 said:


> Actually got it for my rentals and farm. Haven't figured out how to drive my truck and the skiddy at the same time yet since I am no good at letting others play with my toys.


Exactly my prob.....you figure it out, let me know.


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## DodgeBlizzard (Nov 7, 2003)

Winter has been incredible this year. Doubled the fleet when we purchased two ''new to me'' plow trucks. I set a goal of paying each of them off in the first storm. It just so happened we received storms the following day after those two separate purchases. Of course we had to put a little TLC money back into them. Then we bought a small Ford Ranger to replace the retired Jeep. This was all done in the month of February. If you would have asked me if that was possible in November, I would still be laughing.


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## Flawless440 (Dec 6, 2010)

My business would be nothing with out my wife... 

Two credit scores are better than one... She handles all the taxes, books...About to buy another house in Florida...


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## 94gt331 (Oct 21, 2011)

Here's a pic of our small addition at our shop we started today, compliments of some extra snow money made.


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## UltraLwn&Lndscp (Oct 20, 2013)

I am going tarpon fishing after this storm solo for two days in the gulf. Then again out of Clearwater at the end of May. You guys have fun with your debates!


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## Diesel Dan (Sep 8, 2012)

gtmustang00;1782635 said:


> You and I? Same person, please tell me you have a flip phone like me!












On my 3rd whatever the heck this is after they switched me from Nextel.

No desire to join the masses of zombies staring at the newest "i-thing" instead of driving


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## thelettuceman (Nov 23, 2010)

Got the truck -n- plow paid off in 3 years instead of 6
Bought $200.00 headphones so I can tune out the noise from this thread ... LOL
Donated to charity


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## Antlerart06 (Feb 28, 2011)

Diesel Dan;1783518 said:


> On my 3rd whatever the heck this is after they switched me from Nextel.
> 
> No desire to join the masses of zombies staring at the newest "i-thing" instead of driving


Im glad I'm not only one in the Dumb Phone club


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## hackitdown (Oct 10, 2007)

I bought a dump insert for my new truck. I went to Mexico for a week. Once all the cash comes in, I plan to pay off the truck loan.

I use credit often. But I like to pay off loans asap so I can be ready for the next opportunity. Then I use credit to seize the opportunity. Or solve the crisis.


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## yardguy28 (Jan 23, 2012)

Diesel Dan;1783518 said:


> On my 3rd whatever the heck this is after they switched me from Nextel.
> 
> No desire to join the masses of zombies staring at the newest "i-thing" instead of driving


I know too many people do stare at there "i-thing" while driving but for the record I do NOT.

my cell phone whether it would be an iphone or a flip phone remains either in my pocket or in a compartment on my dash. I don't touch it for ANYTHING until I'm parked at a destination.


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## ALC-GregH (Nov 26, 2008)

Whiffyspark;1782193 said:


> That's EVERYONE over on lawnsite.
> 
> You're an absolute idiot to spend more Han $5k on a truck. But it's perfectly acceptable to pay $13k for a mower.
> 
> Debt is the absolute devil over there. *They are arguing a $150 lawn mower payment could sink you're business*


That's because LS has become the new Lowballer forum for all the new kids wanting to make it big yet don't take the time to learn how to do it right. They think $150 is a LOT of money. To a homeless person, it is. To a professionally ran business, it pays for my ink cartridges and that's about it. lol


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## Whiffyspark (Dec 23, 2009)

ALC-GregH;1784375 said:


> That's because LS has become the new Lowballer forum for all the new kids wanting to make it big yet don't take the time to learn how to do it right. They think $150 is a LOT of money. To a homeless person, it is. To a professionally ran business, it pays for my ink cartridges and that's about it. lol


It's gotten really pathetic over there. There's a difference between being ga landscaper and a businessman. I'm a business man in trying to get out of the field as soon as possible and expand other areas of my company

Maintenance is just cash flow for me. My area is still profitable. We also do roof cleaning/power washing. Very very good money in that.

Slowly building up landscaping and forestry mulching side


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## Diesel Dan (Sep 8, 2012)

yardguy28;1784374 said:


> I know too many people do stare at there "i-thing" while driving but for the record I do NOT.
> 
> my cell phone whether it would be an iphone or a flip phone remains either in my pocket or in a compartment on my dash. I don't touch it for ANYTHING until I'm parked at a destination.


I answer my phone all the time, I don't text or snatch-chat while on the road.


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## Italiano67 (Feb 16, 2005)

To those who wont use their phone while driving have you ever used a good Bluetooth? I recommend a Blue Parrott headset. Their is little to no background noise for the other caller and once your used to slipping it on to answer its really nice. I think its invaluable while plowing to dispatch etc my other units.


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## leigh (Jan 2, 2009)

Italiano67;1784489 said:


> To those who wont use their phone while driving have you ever used a good Bluetooth? I recommend a Blue Parrott headset. Their is little to no background noise for the other caller and once your used to slipping it on to answer its really nice. I think its invaluable while plowing to dispatch etc my other units.


x2, just got mine, a little bulky but nice unit.


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## OldSchoolPSD (Oct 16, 2007)

Whiffyspark;1784379 said:


> It's gotten really pathetic over there. There's a difference between being ga landscaper and a businessman. I'm a business man in trying to get out of the field as soon as possible and expand other areas of my company
> 
> Maintenance is just cash flow for me. My area is still profitable. We also do roof cleaning/power washing. Very very good money in that.
> 
> Slowly building up landscaping and forestry mulching side


One of my in-laws does the landscaping thing. I've had to weld up his Harry homeowner mower a few times (because he can't/won't finance a commercial mower) People like that make me chuckle when they talk about "business" and try and give me advice...

He went all wide eyed when the old man and I were talking about trying to shrink payroll down to less than $10k a week lol.


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## dieselboy01 (Jan 18, 2011)

I'm hoping to upgrade to a V plow on one of the trucks. I would also like to get a vbox spreader and build a bin to run bulk salt for next year. With this being a great winter I think upgrading some equipment is best for me.


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## badgerfan (Jun 7, 2009)

I'm going to do less landscaping in the summer months and moving to Chicago to expand operations down there.. Its a calculated risk but obviously coming off a good winter the time seems to be right. I will be able to manage Milwaukee and Chi from Chi.. I'm honestly a little anxious but I'm looking at the long term


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## yardguy28 (Jan 23, 2012)

Diesel Dan;1784472 said:


> I answer my phone all the time, I don't text or snatch-chat while on the road.


personal preference really. I'm not gonna even answer a phone call while driving down the road with either a plow on the front or a trailer behind me.

for me it's eyes and mind on the road.



Italiano67;1784489 said:


> To those who wont use their phone while driving have you ever used a good Bluetooth? I recommend a Blue Parrott headset. Their is little to no background noise for the other caller and once your used to slipping it on to answer its really nice. I think its invaluable while plowing to dispatch etc my other units.


I did the blue tooth thing when I use to use flip phones. didn't really care for them.

but really for me it's a phones and driving don't mix thing. I'm not gonna push my opinion on others but for me I'm not gonna do anything past having the radio on while driving or talking to a passenger if I have one.

I keep my eyes and mind on the road at all times.


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## hackitdown (Oct 10, 2007)

OldSchoolPSD;1784572 said:


> One of my in-laws does the landscaping thing. I've had to weld up his Harry homeowner mower a few times (because he can't/won't finance a commercial mower) People like that make me chuckle when they talk about "business" and try and give me advice...
> 
> He went all wide eyed when the old man and I were talking about trying to shrink payroll down to less than $10k a week lol.


I always hesitate to answer the question about how much my ZTRs cost. The know it all types think you are either lying or crazy to spend that much on a lawn mower. They are shocked to know that the mower payment is as much as their car payment. They assume commercial mowers cost $1500.

Or they ask how much cash you have tied up in trucks and equipment, and then they "know" you are lying. A lawn guy can't have that much money, right?


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## Whiffyspark (Dec 23, 2009)

OldSchoolPSD;1784572 said:


> One of my in-laws does the landscaping thing. I've had to weld up his Harry homeowner mower a few times (because he can't/won't finance a commercial mower) People like that make me chuckle when they talk about "business" and try and give me advice...
> 
> He went all wide eyed when the old man and I were talking about trying to shrink payroll down to less than $10k a week lol.


I got my experience working for a guy that had payroll over $100k every two weeks. That didn't include fuel, shops, supplies etc. we had less than 40 accounts all commercial. Well over 70 employees in two states. One account was worth over $10k a week. Another over 25

But they say there is no money in commercial. Stick to residential lol


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## OldSchoolPSD (Oct 16, 2007)

There's no money in residential anything. Hell now days I don't even like fooling with commercial stuff unless it's got federal money backing it up.


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## yardguy28 (Jan 23, 2012)

really, no money in residential anything? wonder how so many lawn maintenance businesses can make a living doing strictly residential clients if there's no money. 

I've been in business 8 years now doing strictly residential and I've been making pretty good money. you mean to tell me I am wrong???


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## OldSchoolPSD (Oct 16, 2007)

I think that your idea of "pretty good money" and mine differ greatly...


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## beanz27 (Dec 22, 2012)

OldSchoolPSD;1785365 said:


> I think that your idea of "pretty good money" and mine differ greatly...


Oh its only a few zero`s difference lol.


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## Brant'sLawnCare (Jun 29, 2007)

I'm going against the grain. I'm building a business still. I have some mowers to replace and some items to buy that will increase efficiency. I'm definitely going to be building up my reserve fund though too.


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## leigh (Jan 2, 2009)

I made the mistake of inquiring about a new truck through the Costco auto buying program. Dealer has a 2014 black chevy 2500hd crewcab shortbed ltz leather 6.0 for 42k.Looks tempting. Can't believe the price of a d-max, have to snow all year to consider new one!


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## SHAWZER (Feb 29, 2012)

What is the mistake of the Costco program ?


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## leigh (Jan 2, 2009)

SHAWZER;1787626 said:


> What is the mistake of the Costco program ?


Just the fact that me (Mr cheapo)actually contacted a dealer about a truck that I probably won't buy! Costco program is ok,used it back in 2005 to buy our caravan.


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## ALC-GregH (Nov 26, 2008)

On a side note, I only do res properties and I make bank on every snow we get. If I don't fool around, I can get done all my accounts in less then 4hrs and gross a solid $350 an hour. The money I make is for the most part, extra income so I don't need to have 3,5,10 trucks out plowing a hundred driveways and parking lots or whatever it may be. I don't want the headaches.


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## Chineau (Aug 24, 2010)

Sounds like some thick bank rolls out there, what a great business to be in this year if you have the drive you can make it as big as you want. From one truck wonders to guys and maybe a couple of gals with multiple pieces of equipment and crews to work it you have to love it. Peace


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## leigh (Jan 2, 2009)

Chineau;1788848 said:


> Sounds like some thick bank rolls out there, what a great business to be in this year if you have the drive you can make it as big as you want. From one truck wonders to guys and maybe a couple of gals with multiple pieces of equipment and crews to work it you have to love it. Peace


Funny thing is, if we all compared our tax returns next year,probably couldn't tell who had one truck or 10! Tough to actually keep any of it!


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## Chineau (Aug 24, 2010)

I'm not sure where I heard it first but it take money to make money. I never set out to keep it all and spending on business development in an investment IMO.


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## vlc (Dec 8, 2012)

Reinvesting in my business (advertising, replacing older equipment, possibly adding another mowing crew) and also looking into investing in property.


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## thelettuceman (Nov 23, 2010)

In my other life, I like good sound.


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## Buswell Forest (Jan 11, 2013)

leigh;1787509 said:


> I made the mistake of inquiring about a new truck through the Costco auto buying program. Dealer has a 2014 black chevy 2500hd crewcab shortbed ltz leather 6.0 for 42k.Looks tempting. Can't believe the price of a d-max, have to snow all year to consider new one!


Hope you own stock in ExxonMobil. My 6.2 reg cab Ford is a solid 15 average in summer.


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## thelettuceman (Nov 23, 2010)

leigh;1787509 said:


> I made the mistake of inquiring about a new truck through the Costco auto buying program. Dealer has a 2014 black chevy 2500hd crewcab shortbed ltz leather 6.0 for 42k.Looks tempting. Can't believe the price of a d-max, have to snow all year to consider new one!


Not a mistake. Buy it and post a picture. I bet that is one sweet truck. I don't care how I spend your $$$$$


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## DodgeBlizzard (Nov 7, 2003)

I purchased two used plow trucks, plus a jeep to replace a retired jeep plow truck, a small Ford Ranger and the best deal of all, was a used Sears 16' box truck. All vehicles were used and purchased below asking price and or KBB price. Pretty excited to grow the company. They might not all be the newest, prettiest, but the best part is everything is paid off and I'm COMPLETELY debt free. I have yet to buy any ''toys''. It's been difficult, but it's good to have a plan and time framed goals. I appreciate all the snow flakes given to our area this year. Hoping for a repeat next season.


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## Yarden of eden (Dec 1, 2010)

I do a mix of paying off debt, stashing some for emergency, and dominating Craigslist getting value buys for both my summer and winter operations


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## germann (Mar 5, 2003)

I would disagree about the comment on not buying a new truck. Of course, pay down debt first and make sure you have a rainy day fund. is spot on. We like to use extra profit from good years to buy high quality, new equipment for cash. That way, in a down year, you can postpone upgrades and don't have lease payments. I never recommend buying the Lariat Crew Cab Leather big bucks trucks!! I am talking about serviceable units. We get base model work trucks, but always get the plow prep package, dump body we need, etc. It bothers me to see guys driving around an older truck (with a crew cab and leather seats) pulling a single axle trailer that is way overloaded. An efficient setup can expand revenue generation. I met a guy last year complaining about profits that had a brand new F250 Lariat his crews never even touched. He could have given the crew a new stake dump body for the cost of the fancy truck, and done quotes and service calls out of an older ranger or f-150. Of course, I like nice stuff too. Just need to make sure you know it is a luxury!


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## Ramairfreak98ss (Aug 17, 2005)

Well it looks like a lot more on paper than it ends up in the end for sure!

We're going to finally get a full commercial building, big as hell as i can get approved for on a site plan, next year finally everything will be inside and our own salt bin... a major feat for anyone in NJ... 

We've already purchased more machines, trucks, snow plows, spreaders, equipment and snow blowers just to meet last years constant ongoing demand. We literally couldn't fit all the snow plows and boxes inside this spring, still have a couple sitting outside and a couple in temporary space usually used for shop space and truck parking.


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## leigh (Jan 2, 2009)

Loosened the purse strings a little, bought a new trailer. Got 14 years out of my current trailer.


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## BP73 (Feb 17, 2014)

I'm "soon to be" new to plowing and I know this past winter was atypical for the industry. I'm curious, just how much more, as a percentage, did you guys bring in this past season.


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## kimber750 (Sep 19, 2011)

BP73;1827914 said:


> I'm "soon to be" new to plowing and I know this past winter was atypical for the industry. I'm curious, just how much more, as a percentage, did you guys bring in this past season.


I am seasonal so truth be told I make less every time it snows. Last season I still put enough in my pockets to keep me from not wanting to plow every again.


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## 1olddogtwo (Aug 6, 2007)

kimber750;1827979 said:


> I am seasonal so truth be told I make less every time it snows. Last season I still put enough in my pockets to keep me from not wanting to plow every again.


See that's working well for ya......lol

I'll be selling a 9'6 SS MVP3 in the spring, just got to buy it 1st this fall


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## kimber750 (Sep 19, 2011)

1olddogtwo;1827991 said:


> See that's working well for ya......lol
> 
> I'll be selling a 9'6 SS MVP3 in the spring, just got to buy it 1st this fall


I look at it like this, all those other very slow winters I made a ton. If it doesn't snow at all I make a ton. So one bad winter isn't gonna hurt me. Also a bad winter gives me the ability to make the price up the following year.


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## Antlerart06 (Feb 28, 2011)

BP73;1827914 said:


> I'm "soon to be" new to plowing and I know this past winter was atypical for the industry. I'm curious, just how much more, as a percentage, did you guys bring in this past season.


More it snows more I make I have per visit contacts only one seasonal contract Only pocket 500 off the seasonal contract Last year first year doing a seasonal contract 
Rest of the jobs I was up 48% more then the year before

I have 2 same lots and one is per visit and other one is the seasonal contract Last year per visit won 
Now if we had less snow the seasonal would won but didn't work that way

What I did with extra money I made this year I had to spend it I bought a 2015 F350 Chassis and a Dump flat bed for the truck and a plow not sure on it XLS or a MVP


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