There was a sound bite on the evening news recently about how a lot of fishermen on the Gulf Coast will be sorry to see BP pull out as they have grown used to the big pay days. (Now, whether this is true is for a different post–and one I’m not going to touch.) It made me think about how I, as a small business owner, handle shifting cash flows.
I have been doing this stuff a long time, so I know that consulting is a feast or famine business. Sometimes I get big pay days; other months might be quite lean. I’m pretty conservative, so I tend to assume the worst and spend very frugally. A good friend calls this “stashing the cash.”
Do you stash the cash?
Photo by Daniel Borman (Flickr).