The Universe Is Telling a Self-Employed Tradie

Source: The Herald Sun
Link: http://www.heraldsun.com.au/business/barefoot-investor/tradie-needs-to-stop-surviving-via-centrelink-and-get-out-of-debt/news-story/a536089052b2b078b343ee4a53e83a30

“The universe is telling a self-employed tradie, caught in a debt trap, to start looking for a regular job, writes Barefoot Investor”

Doug Constable Replies: It is easy to say that, “To start looking for a regular job”, but to me I would think that someone that is self employed, is self employed because they want to be self employed
And maybe they should start learning what really does self-employed means as opposed to looking for another job
The freedom, opportunity and the strain dream of having a growing business is always there,and if I am not making enough money, most probably they need to go out and work out how to make more money as a tradesman as their own business as opposed to just be in a rut to be looking for a job

There is no doubt, that a tradesman with self-discipline earns more money than self-employed from what he does working for someone else. So the things they do is to learn the disciplines with the money you make as opposed to just say well I can’t do that and going and working for someone

“DEB WRITES: I have a bone to pick with you. I have been a loyal follower for years, have all the newsletters, and have just bought your book. I have read it and re-read it and now am more confused and frustrated than ever! I am a stay-at-home mum. My husband is a self-employed tradie who relies heavily on a $9500 business overdraft. He earns between $45,000 and $55,000 after tax to ensure we can still get Centrelink ($10,000). His income is so sporadic that, when it does finally come in, it is gone on living expenses, suppliers and a bit of savings. Your steps can’t work for us.

BAREFOOT REPLIES: Are you seriously happy living your life playing Centrelink limbo? The problem with that game is that, even if you manage to earn as little as you can to get under the bar, you’re still … in limbo. If your husband is earning only $45k a year as a tradie running his own show (with debt!), that’s the universe telling him it’s time to seek out a regular job and then focus on paying off his overdraft. And another thing: a good tradie doesn’t blame his tools … my steps work, but they need the right materials: in your case, cash!”

Doug Constable Replies: If you are plodding along as a tradie it is very difficult, the things you need to do with business to level out your cash flow, your books, invoices of time are the biggest ones, and they Have a system where you are doing work for people that pay on time. If a tradie is heavily geared towards builders, builders are renowned for not paying because they are waiting on the progress payments
The overdraft should be leveling that out as you are taking away things to balance it out

Leave a Reply